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

Sponge P-DRI (FeM 80%) prices in Karnataka’s Bellary declined by INR 100/t on 6 Oct’21. However, sponge C-DRI prices continued to stay flat.

• Around 1,000 t of P-DRI deals were confirmed at INR 35,300-35,600/t against offers at INR 35,800-36,000/t exw.
• SteelMint’s assessment for C-DRI stands at INR 36,000/t ($481).
• Around 3,900 t of deals were reported at INR 35,500-36,000/t exw.