India: Sponge iron prices down INR 400/t in Odisha

Sponge C-DRI (FeM 80%) prices in Odisha’s Rourkela slipped by INR 400/t on 28 Oct’21.

• SteelMint’s assessment for sponge C-DRI stands at INR 34,700/t ($463/t).
• About 1,990 t of C-DRI deals were confirmed at INR 34,500-34,800/t exw-Rourkela.
• Buying interest remained limited. However, steel billet prices saw an uptick of INR 50/t to INR 45,300/t exw-Rourkela.