India: Sponge iron trade improves in Bellary on firm offers

Sponge PDRI (FeM 80%) prices in Karnataka’s Bellary remained firm, while CDRI prices inched down by INR 50/t on 25 July.

• About 3,000 t of PDRI deals were confirmed at INR 33,800-33,900/t exw against offers at INR 33,900/t exw.
• SteelMint’s assessment for CDRI stands at INR 34,350/t exw and about 4,000 t of deals were concluded.
• Trade improved today on firm (lower) offers today amidst rising billet prices in major locations.