India: Sponge iron prices in Odisha fall by INR 100/t

SteelMint’s assessment for sponge iron stands at INR 30,500/t exw-Rourkela, down by INR 100/t on 17 Dec’21. Around 1,000 t of C-DRI (70% lumps & 30% fines) deals were confirmed at INR 30,300-30,500/t exw. Limited buying interest and a correction of INR 400/t d-o-d in steel billet prices put sponge iron prices under pressure, SteelMint notes.