India: Sponge iron trades improve on lower offers in Bellary

Sponge C-DRI (FeM 80%) prices in Karnataka’s Bellary declined by INR 400/t, while P-DRI prices fell by INR 250/t on 30 Dec’21.

• Around 9,600 t of P-DRI deals were confirmed at INR 29,500-29,800/t against offers at INR 30,000/t exw.
• SteelMint assesses C-DRI at INR 30,500/t ($410/t). Around 1,600 t of deals were reported.