SteelMint’s assessment for sponge C-DRI (FeM 80%, mix material) stands at INR 31,000/t ($424) versus offers at INR 31,100-200/t exw-Rourkela in Odisha, up by INR 200/t. Around 2,700 t of sponge C-DRI deals were confirmed in the range of INR 30,700-31,000/t exw for FeM 80% material. A deal comprising 1,500 t of C-DRI lumps was also reported to Jalna at INR 31,700/t exw. Sources said that slight improvement in demand and billet prices rising by INR 450/t, d-o-d, are supporting sponge iron prices.
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