Sponge iron prices in Odisha’s Rourkela fell by INR 100/t on 18 Jul’21. SteelMint’s assessment for C-DRI (FeM 80%, mix material) are at INR 33,100/t exw. Around 2,900 t of deals were confirmed at INR 33,000-33,200/t exw-Rourkela. Out of the deals recorded, about 55% were booked for Raipur and Maharashtra, while the remaining was sold in the local market, as per SteelMint reports. According to sources, prices dropped slightly following a correction in billet prices. However, no selling pressure among suppliers was observed as production remained disturbed due to seasonal factors.
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