India: Sponge iron prices pick up in Bellary

Sponge iron (FeM 80%) prices in Karnataka’s Bellary increased by INR 100/t on 27 Oct’21.

• Around 2,300 t of P-DRI deals were confirmed at INR 33,600-33,800/t against offers at INR 34,000/t exw.
• SteelMint’s assessment for C-DRI stands at INR 34,400/t ($459) and around 3,200 t of deals were reported at INR 34,000-34,500/t exw.