India: Sponge prices inch up in Odisha as trade volumes rise

SteelMint assesses sponge iron in Odisha’s Rourkela at INR 30,650/t, up INR 350/t d-o-d on 19 Nov’21. A total of 5,200 t of sponge iron, C-DRI (70% lumps and 30% fines), deals were confirmed at INR 30,500-30,700/t exw. Steel billet prices rose by INR 500/t, d-o-d, which kept sponge iron prices supported, SteelMint notes.