India: Sponge iron prices range bound in Bellary, Karnataka

Sponge iron (FeM 80%) prices in Karnataka’s Bellary were up slightly by INR 50/t on 12 August.

• 5,000 t deals of pellet-based DRI (P-DRI) were confirmed at INR 34,500-34,800/t exw.
• SteelMint’s assessment for lump-based DRI (CDRI) stands at INR 36,000/t exw and 4,420 t deals were reported.
• Active demand continued to support sponge iron prices, SteelMint notes.