Karnataka: Sponge iron prices dip on falling raw material prices

Sponge iron (FeM 80%) prices in Bellary fell by INR 850-900/t today.

• C-DRI prices stand at INR 34,400/t ($459) exw and 1,200 t deals were confirmed.
• 1,000 t of P-DRI deals reported at INR 34,000-34,200/t against offers at INR 34,200/t, exw.
• Coal prices dropped by INR 1,000/t today at Gangavaram Port. Also, bids for raw pellet fell by INR 500-700/t, SteelMint notes.