South India: Sponge iron prices increase by INR 500/t in Bellary

Sponge iron, P-DRI (FeM 80%), prices in Karnataka’s Bellary rose by INR 500/t on 8 Dec’21. C-DRI prices also rose by INR 250/t today.

• SteelMint assesses C-DRI at INR 28,500/t ($378/t). Around 2,100 t of deals were reported.
• About 5,400 t of P-DRI deals were confirmed at INR 26,700-27,200/t against offers at INR 27,200/t exw. Mill owners raised prices on slight improvement in demand.