On August 23, SteelOrbis reported ex-India DRI offers up at $360-370/mt CFR Bangladesh. Because of the increased DRI offer prices that were higher than imported shredded scrap material, DRI export trades from India to Bangladesh were reportedly limited.
Sources inform SteelOrbis that ex-India DRI offer prices have since increased $10/mt to $370-380/mt CFR Bangladesh, but that interest for DRI is stalled as imported shredded scrap material offers have declined compared to earlier in the month. Despite imported shredded scrap being more attractive than DRI, the market is also adopting a wait and see perspective on scrap imports on market uncertainty.