India: Sponge iron prices rise by up to INR 1,000/t in Bellary

Sponge iron, P-DRI (FeM 80%), prices in Karnataka’s Bellary rose sharply by INR 1,000/t on 13 Dec’21. C-DRI prices also rose by INR 600/t in today’s trade.

• Around 2,200 t of P-DRI deals were confirmed at INR 29,000/t against offers at INR 29,200/t exw.
• SteelMint’s assessment for C-DRI stands at INR 29,800/t ($394/t). Around 2,600 t of deals were reported.