India: Sponge iron prices fall by up to INR 200/t in Bellary

Sponge iron, P-DRI (FeM 80%), prices in Karnataka’s Bellary declined by INR 200/t, while C-DRI prices declined by INR 50/t on 17 Dec’21, as per SteelMint assessment.

• Around 1,100 t of P-DRI deals were confirmed at INR 28,500-28,600/t against offers at INR 28,800/t exw.
• SteelMint’s assesses C-DRI at INR 29,500/t ($388/t). Around 900 t of deals were reported today.