Despite a fall in traded volumes by about 43% d-o-d, sponge iron prices continue to remain stable in Odisha’s Rourkela, as market participants wait for OMC’s iron ore auction results to be declared tomorrow. Sources reported that buyers and sellers are choosing to wait and watch, which is resulting in firm offers and bids with limited trading. SteelMint’s assessment for sponge C-DRI (FeM 80%) in Rourkela stands at INR 31,900/t on 30 Jul’21 and around 1,620 t of deals were reported at INR 31,700-32,000/t exw.
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