India: Sponge iron prices remain under pressure in Odisha

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Sponge iron, C-DRI (70% lumps & 30% fines), prices in Rourkela fell by INR 300/t on 1 Dec’21.

1,000 t of C-DRI deals were confirmed at INR 30,200/t exw-Rourkela against offers at INR 30,300-30,500/t.
Apart from weak demand for sponge iron, steel billet prices edged lower by INR 300/t, d-o-d. This has put additional pressure on prices, SteelMint notes.

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