India: Sponge iron prices drop further in Bellary

Sponge iron prices in Karnataka’s Bellary fell by INR 400/t in today’s trade.

• SteelMint’s assessment for C-DRI in Bellary stands at INR 32,500/t exw ($439/t).
• Around 500 t of C-DRI deals were reported.
• Around 1,700 t of P-DRI deals were confirmed by SteelMint at INR 31,000-31,400/t against offers at INR 31,500/t exw.