India: Jalna mills book over 2,000 t of sponge iron from Odisha at INR 36,500/t exw

Producers in Jalna, Maharashtra recently booked over 2,000 t of iron ore-based DRI (C-DRI, 100% lumps, FeM 81-82%, +/-1) from Odisha at around INR 36,500/t exw. The landed cost of this deal to Jalna would be around INR 38,900-39,000/t DAP.

Domestic sponge iron prices are likely to remain strong on higher coal prices amidst supply shortage, SteelMint notes.