Sponge prices rallied by INR 400/t in Rourkela today as buying interest remained firm. Steel billet prices also surged by INR 500/t, d-o-d. According to sources, supply shortage and higher coal offers continued to support sponge iron prices. SteelMint’s assessment for sponge C-DRI (70:30, mix material) stands at INR 32,400/t ($437/t) on 29 Sep’21. About 4,380 t of deals were confirmed at INR 32,000-32,500/t exw-Rourkela.
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