On May 24, SteelOrbis reported ex-India DRI offers rangebound at $350-360/mt CFR Bangladesh with limited interest as buyers remained on the sidelines due to market uncertainty.
Sources inform SteelOrbis that after June 1 offers began to increase and are presently at $370-375/mt CFR. The price has increased $20/mt from the bottom of the previous range and $15/mt from the top of the previous range. DRI import prices are reportedly lower than shredded scrap import prices at the moment and are garnering interest by Bangladesh buyers.