India: Sponge iron trade picks up at Bellary, offers rise

Sponge iron, P-DRI (FeM 80%), prices in Karnataka’s Bellary rise by INR 450/t. Trade volumes improved by over 1.5 -fold d-o-d.

• Around 7,700 t of P-DRI deals were reported at INR 28,500-29,000/t versus offers at INR 29,000/t, exw.
• Also, sponge C-DRI prices rise by INR 200/t to INR 29,800/t ($3978) exw and 2,600 t of deals were confirmed.