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

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Around 3,700 t pellet-based DRI (PDRI) deals were reported in Karnataka’s Bellary market today at INR 37,400-37,500/t against offers at INR 37,600/t exw
3,100 t of iron ore-based DRI (CDRI) trades were reported at INR 38,300-38,500/t exw.
Moderate demand and low bids are the key factors behind the price correction, SteelMint notes.

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