SteelMint’s assessment for sponge iron, C-DRI (70% lumps & 30% fines), stands at INR 31,750/t exw-Rourkela, down INR 300/t on 28 Dec’21. Around 1,000 t of deals were confirmed at INR 31,700-31,800/t exw, against offers at INR 32,000/t exw. Weak demand and a correction of INR 500/t in steel billet prices put sponge iron prices under pressure, SteelMint notes.
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