India: Sponge iron prices rise marginally in Odisha

Sponge iron prices in Odisha’s Rourkela rose by INR 100/t on 1 Nov’21. SteelMint assesses sponge C-DRI (FeM 80%, mix material) at INR 34,600/t.

• Around 1,600 t of deals were confirmed at INR 34,500-34,700/t exw-Rourkela today against offers at INR 34,700-35,000/t exw.
• Billet prices, which rose by INR 200/t, kept sponge iron prices supported despite dull demand and limited trading activity, sources informed.