Sponge iron prices in Rourkela rose by INR 400/t on 11 Aug’21, as per SteelMint reports. Current offers for sponge C-DRI (FeM 80%) stand at INR 32,400/t exw. A total of 4,450 t of deals were confirmed at INR 32,200-32,500/t ex-Rourkela. Deals for around 1,000 t of FeM 80% C-DRI mix material were also reported during the morning hours today in central India at INR 33,000-33,200/t on FoR Raipur basis. According to sources, active demand as well as rising billet prices have pushed sponge iron prices higher.
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