India: Dull demand weighs on sponge iron prices in Odisha

Sponge C-DRI (70:30, mix material) in Odisha inched down INR 250/t to INR 34,900/t exw-Rourkela on 26 Oct’21.

• Around 1,000 t of C-DRI deals were confirmed in the range of INR 34,800-35,000/t exw. A few bids were reported at INR 34,500/t.
• Dull demand as well as the fall in steel billet prices by INR 500/t have put pressure on sponge iron prices.