India: Sponge iron prices rise on active trading in Odisha

SteelMint’s assessment for sponge iron, C-DRI (70% lumps & 30% fines), in Odisha went up by INR 250/t to INR 33,150/t exw-Rourkela on 12 Jan’22.

• Around 2,960 t of C-DRI deals were confirmed in the range of INR 33,000-33,200/t exw.
• According to sources, active trading and a marginal rise of INR 200/t in steel billet prices today, kept sponge prices supported.