SteelMint’s assessment for sponge iron, C-DRI (70% lumps & 30% fines), stands at INR 30,000/t exw-Rourkela and around 1,000 t of deals were confirmed today. A few bids were reported at INR 29,500-600/t exw. However, these deals remained unconfirmed till the time of publication. Weak demand and a correction of INR 200/t, d-o-d, in steel billet prices put sponge iron prices under pressure, SteelMint notes.
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