Sponge iron prices in Karnataka’s Bellary market declined by INR 100-200/t in today’s trade. Sources believe prices will keep moving down as material offtake remains slow.
- Current offers for sponge C-DRI stand at INR 28,500/t ($383), down by INR 200/t d-o-d. A few bids have been reported at around INR 28,200/t, exw-Bellary.
- About 1,800 t of P-DRI deals were confirmed at around INR 28,000-28,200/t against offers at INR 28,400/t, exw.
- As far as raw materials are concerned, raw pellet offers stand at INR 12,800/t, exw, while a few bids have been heard at INR 12,600/t, exw. However, NMDC is offering around 42,000 t at INR 12,200/t, on FoT basis at Donimalai in Karnataka.
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