SteelMint’s price assessment for sponge C-DRI (FeM 80%, mix material) stands at INR 32,500/t ($437) exw-Rourkela in Odisha, up by INR 200/t. Around 2,200 t of sponge C-DRI deals were confirmed in the range of INR 32,300-32,500/t exw. Sources informed SteelMint that rise in coal prices, low production and surging billet prices have collectively resulted in the hike in sponge iron prices.
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