SteelMint’s price assessment for sponge C-DRI (FeM 80%, mix material) stands at INR 31,250/t ($421) exw-Rourkela in Odisha, down by INR 750/t. Around 1,150 t of sponge C-DRI deals were confirmed in the range of INR 31,000-31,500/t exw for FeM 80% material. Sources said that falling billet prices followed by weak demand have resulted in a fall in sponge iron prices. Orders also remain limited which is dragging prices down, SteelMint notes.
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