India: Sponge iron prices rise by up to INR 450/t in Bellary

Sponge P-DRI (FeM 80%) prices in Karnataka’s Bellary are up INR 450/t on 13 Sept’21.

• Around 2,900 t of P-DRI deals were confirmed at INR 29,600/t against offers at INR 29,800-30,000/t exw.
• Demand is majorly from Hindupur and Hyderabad including western region.
• Offers for C-DRI are at INR 30,600/t ($412), while 600 t of deals were reported at INR 30,500/t exw.