India: Sponge iron prices rise slightly in Bellary, Karnataka

Sponge iron, PDRI (FeM 80%), prices in Karnataka’s Bellary surged INR 100/t and around 1,000 t deals were confirmed at INR 37,000-37,100/t exw, today.

• SteelMint’s assessment for CDRI stands at INR 38,000/t (+300/t) exw and 1,450 t of deals were reported.
• Most mill owners are holding sales rather than selling material at lower rates.