SteelMint’s price assessment for sponge iron, C-DRI (70% lumps & 30% fines), stands at INR 30,000/t ($400/t) exw-Rourkela, down by INR 200/t on 2 Dec’21. Around 1,000 t of deals were confirmed at INR 29,900-30,000/t exw. A correction of INR 150/t in prices was observed today amidst limited buying interest. Moreover, falling steel billet prices put sponge iron prices under pressure.
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