India: Sponge iron prices fall by INR 200/t in Odisha

Sponge iron prices in Odisha’s Rourkela fell by INR 200/t on 20 Dec’21.

• SteelMint’s assessment for C-DRI (70% lumps & 30% fines) stands at INR 30,150/t.
• About 1,320 t of deals were confirmed at INR 30,000-30,300/t exw-Rourkela.
• Apart from weak demand, steel billet prices witnessed a d-o-d correction of INR 400/t, which put sponge iron prices under pressure.