SteelMint’s price assessment for sponge C-DRI (70% lumps & 30% fines) stands at INR 31,900/t exw-Rourkela, down INR 550/t on 5 Jan’22. Around 1,000 t of deals were confirmed at INR 31,800-32,000/t exw. Weak demand, and a correction of INR 1,000/t, d-o-d, in steel billet prices put sponge prices under pressure, SteelMint notes.
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