India: Sponge iron trade improves on falling offers in Odisha

SteelMint’s assessment for sponge iron in Odisha’s Rourkela is at INR 34,300/t on 2 Nov’21. Around 2,390 t of C-DRI (70:30 mix material) deals were confirmed in the range of INR 34,100-34,300/t exw. Steel billet prices also fell by INR 300/t, d-o-d and falling coal prices have put sponge iron prices under pressure.