India: Sponge iron prices fall by INR 100/t in Bellary
Sponge C-DRI (FeM 80%) prices in Karnataka's Bellary declined by INR 100/t on 6 Aug'21 as per SteelMint reports. Sponge P-DRI prices, however, continued to stay flat in today's trading.
- Around 2,700 t of P-DRI deals were confirmed at INR 29,300-29,700/t as against offers at INR 29,700-29,800/t exw.
- Offers for C-DRI stand at INR 31,000/t ($418). Around 2,000 t of deals were reported at INR 30,800/t exw.
- The outlook for sponge iron depends on raw material prices and producers are waiting for update on NMDC's pellet price.