India: Sponge trade volumes increase in Bellary on falling prices

Sponge iron, P-DRI (FeM 80%), prices in Karnataka’s Bellary fell by INR 700/t today, although trade volumes rose by over two-fold.

• Around 4,500 t of deals were reported at INR 30,500-31,000/t versus offers at INR 31,000/t, exw.
• Sponge iron, C-DRI, prices fell by INR 400/t to INR 32,200/t ($433/t) exw and 3,200 t of deals were confirmed at INR 32,000-32400/t exw.