SteelMint’s assessment for sponge iron, C-DRI (70% lumps & 30% fines), stands at INR 28,500/t exw-Rourkela, down by INR 500/t on 6 Dec’21. Around 900 t of deals were confirmed at INR 28,500/t exw against offers at INR 28,800-29,000/t. Due to prevailing sluggish trends and a correction of INR 400/t, d-o-d, in steel billet prices sponge iron prices continued to remain under pressure, SteelMint notes.
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