Sponge iron prices in Rourkela fell by INR 450/t on 23 Aug’21. SteelMint’s assessment for sponge C-DRI (FeM 80%) stands at INR 32,200/t exw. A total of around 1,000 t of deals were confirmed at INR 32,000-32,200/t as against offers floated at INR 32,300-32,500/t exw-Rourkela. According to sources, dull demand and a drop of INR 500/t (d-o-d) in billet prices led to the decline in sponge iron prices.
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