Sponge iron prices in Odisha’s Rourkela rose by NR 200/t on 16 Aug’21, as per sources. Current offers for sponge iron C-DRI (FeM 80%, 70:30 mix material) stand at INR 33,000/t exw. In all, around 2,580 t of deals were confirmed at INR 32,700-33,000/t exw-Rourkela. Moreover, a deal for 100% lumps was reported for Jalna in Maharashtra at INR 33,500/t exw. According to sources, supply shortage and rising billet prices have contributed to the rise in sponge iron prices.
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