India: Odisha sponge iron prices rise marginally despite soft demand

Sponge iron (70:30, mix material) prices rose by INR 50/t in Rourkela despite limited buying interest and a decline in billet prices by INR 150/t, d-o-d.

• 1,350 t of deals were confirmed at INR 30,800-31,100/t exw-Rourkela. A few deals comprising 1,400 t of C-DRI lumps were reported at INR 31,700-31,900/t exw.
• SteelMint assesses sponge C-DRI at INR 31,050/t ($425/t) on 2 Sept’21.