India: Sponge iron trade improves on lower offers in Bellary

Sponge iron PDRI (FeM 80%) and iron ore-based DRI (CDRI) prices in Bellary dropped by INR 200/t on 7 Sept.

• PDRI deals of 4,200 t were confirmed at INR 32,700-32,800/t exw against offers at INR 32,800/t exw.
• CDRI prices stood at INR 33,750/t exw and around 1,700 t deals were concluded.
• Buying activity improved slightly after sellers lowered offers today.