India: Sponge iron demand remains weak in Odisha, prices fall

Sponge iron prices in Rourkela fell by INR 250/t to INR 31,500/t on 29 Dec’21.

• About 800 t of C-DRI (70% lumps & 30% fines) deals were confirmed at INR 31,500/t exw-Rourkela against offers at INR 31,800/t exw.
• Apart from limited buying interest, steel billet prices corrected lower by INR 250/t, d-o-d, which put pressure on sponge iron prices.