India: Sponge iron prices fall marginally in Bellary, Karnataka

Sponge iron (PDRI) prices in Karnataka’s Bellary dropped by INR 200/t, whereas iron ore-based CDRI prices declined by INR 150/t on 22 Mar’22.

• About 1,200 t of PDRI deals were confirmed at INR 39,000/t against offers at INR 39,300/t exw.
• CDRI offers stood at INR 39,850/t ($523/t) and deals of around 2,800 t were reported.
• Buyers remained cautious and are eyeing for lower offers.