SteelMint’s assessment for sponge C-DRI (70:30, mix material) in Odisha fell by INR 500/t to INR 33,000/t exw-Rourkela on 8 Nov’21. Around 1,400 t of C-DRI deals were confirmed at INR 33,000/t exw. A few bids were reported at INR 32,500/t. According to sources, weak demand and falling steel billet prices (down INR 450/t, d-o-d) have put pressure on sponge iron prices.
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