Sponge iron prices in Rourkela decreased by INR 450/t on 3 Dec’21. SteelMint’s assessment for sponge iron, C-DRI (70% lumps & 30% fines), stands at INR 29,550/t. A total of 1,000 t of deals were confirmed at INR 29,500-29,700/t exw-Rourkela. According to sources, unclear market directions and the INR 750/t d-o-d decline in steel billet prices resulted in a drop in sponge prices.
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