India: Sponge iron prices rise marginally in Odisha

SteelMint’s assessment for sponge C-DRI (FeM 80%) in Odisha’s Rourkela went up by INR 50/t to INR 36,700/t exw on 18 Oct’21.

• 1,000 t of deals were confirmed at INR 36,400-37,000/t exw-Rourkela. A deal of 650 t was reported to Durgapur at INR 36,500/t exw – freight charge around INR 1,200/t.
• High coal prices and low production are supporting sponge iron prices, sources said.