India: Odisha sponge iron offers stable despite low buying interest

SteelMint’s price assessment for sponge C-DRI (FeM 80%, mix material) in Odisha’s Rourkela stands at INR 36,700/t ($489) exw. Around 1,000 t of deals were reported at INR 36,700-37,000/t exw. According to sources, demand remained limited today, Moreover, a slight price correction in the billet market impacted buying interest for sponge iron, as per reports available with SteelMint.