India: Nearly 8,000 t of sponge iron deals reported in Odisha, prices climb

SteelMint’s assessment for sponge iron in Rourkela stands at INR 30,350/t, up INR 900/t on 13 Dec’21. A total of 7,840 t of C-DRI (70% lumps, 30% fines) deals were confirmed in the range of INR 30,200-30,500/t exw. A majority of the deals were concluded to Muzaffarnagar and Patna. Steel billet prices rose by INR 1,250/t today, which kept sponge iron prices supported, SteelMint notes.