India: Sponge iron prices rise marginally in Odisha

Sponge iron prices in Odisha’s Rourkela rose by INR 50/t on 12 Nov’21. SteelMint’s assessment for sponge, C-DRI (70% lumps and 30% fines), stands at INR 31,500/t exw.

• Around 4,150 t of deals were confirmed at INR 31,400-31,800/t exw-Rourkela.
• Steel billet prices, which rose by INR 200/t today, kept sponge iron prices supported, SteelMint learnt from sources.