India: Sponge iron prices fall by INR 100-200/t in Bellary

Pellet-based sponge iron, P-DRI (FeM 80%), prices in Karnataka’s Bellary declined by INR 200/t, while iron ore-based sponge C-DRI prices fell by INR 100/t on 30 Nov’21, as per SteelMint reports.

• Around 5,700 t of P-DRI deals were confirmed at INR 28,500-28,800/t against offers at INR 29,000/t exw.
• SteelMint’s assessment for C-DRI stands at INR 30,200/t ($402/t) and around 1,000 t of deals were reported.