SteelMint’s assessment for sponge C-DRI (FeM 80%, mix material) stands at INR 31,700/t ($429/t) exw-Rourkela, up INR 300/t on 27 Sep’21. A total of 2,280 t of deals were confirmed in the range of INR 31,650-32,000/t on exw basis in Odisha, which is normalised to INR 31,650-31,800/t exw-Rourkela. Sources said supply shortage and increasing billet prices have led to the rise in sponge iron prices.
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