SteelMint’s assessment for sponge iron, C-DRI (70% lumps & 30% fines), stands at INR 29,950/t ($402/t) exw-Rourkela, down INR 150/t d-o-d. Around 3,230 t of deals were confirmed at INR 29,900-30,000/t exw. Limited buying interest and a d-o-d correction of INR 500/t witnessed in steel billet prices put sponge iron prices under pressure.
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