India: Sponge iron trade picks up at Bellary on falling prices

Sponge P-DRI (FeM 80%) prices in Karnataka’s Bellary fell by INR 450/t. Trade volumes improved by over two-fold.

• Around 2,300 t of deals were reported at INR 33,600-33,700/t versus offers at INR 34,000/t, exw.
• Also, sponge C-DRI prices fell by INR 100/t to INR 34,300/t ($458) exw and 1,200 t of deals were confirmed.