India: Sponge iron prices rise in Bellary on improved trade volumes

Sponge iron, P-DRI (FeM 80%) and C-DRI, prices in Bellary rose by INR 300/t on 11 Jan’22.

• SteelMint assesses C-DRI at INR 31,800/t ($430/t). Around 3,100 t of deals were reported.
• About 6,000 t of P-DRI deals were confirmed at INR 30,600-30,800/t. Most of the deals concluded were for the Hindupur and Hyderabad regions.