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

Sponge iron prices in Rourkela moved up INR 100/t. SteelMint’s assessment for sponge C-DRI (70% lumps & 30% fines) stand at INR 30,600/t ($402/t) on 16 Dec’21.

• About 2,950 t of deals were confirmed at INR 30,500-30,700/t exw-Rourkela today.
• Steel billet prices increased marginally by INR 50/t exw-Rourkela, which kept sponge iron prices supported.