India: Over 7,000 t sponge iron deals reported in Bellary, Karnataka
Sponge iron, PDRI (FeM 80%), prices in Karnataka's Bellary moved up by INR 650/t, while iron ore-based DRI (CDRI) prices increased by up to INR 600/t on 3 June 2022.
- 2,850 t of PDRI deals were confirmed at INR 31,800-32,200/t exw against offers at INR 32,500/t exw.
- SteelMint's assessment for CDRI stands at INR 32,600/t exw. About 4,300 t deals were reported.
- Trade activities improved with increase in offers amid a rise in Hyderabad billet prices by INR 500/t on d-o-d basis.