India: Sponge iron prices rise by INR 550/t in Odisha

SteelMint’s assessment for sponge iron, C-DRI (70% lumps and 30% fines), stands at INR 29,050/t ($385/t), up by INR 550/t.

• About 2,750 t of deals were confirmed at INR 28,800-29,300/t exw-Rourkela today. Rise in steel billet prices, which increased by INR 650/t exw-Rourkela, has kept sponge iron prices supported.
• A deal for 1,250 t of C-DRI lumps (FeM 80-82%) was concluded to Nepal at INR 31,000/t ($411/t) loaded to rake.