India: Sponge iron prices rise by INR 100-200/t in Bellary

Sponge iron, P-DRI (FeM 80%), prices in Karnataka’s Bellary rose by INR 200/t, while C-DRI prices increased by INR 100/t on 18 Nov’21.

• Around 1,825 t of P-DRI deals were confirmed at INR 29,500-29,700/t against offers at INR 29,800/t exw.
• SteelMint’s assessment for sponge iron, C-DRI, stands at INR 30,500/t ($411). Around 1,700 t of deals were reported today.