On September 26, SteelOrbis reported ex-India DRI offers down at $380-386/mt CFR Bangladesh. At the time, DRI offers were slightly higher than containerized shredded scrap import offers in CFR terms, despite DRI import offers being traditionally below containerized shredded scrap import offers by a spread of $10-20/mt, as evident in the April through early August period.
Sources inform SteelOrbis that DRI prices, after approximately a month of reverse dynamics, have returned below the containerized shredded scrap offers due to price pressures in the domestic DRI Indian market. Ex-India DRI offers are now reportedly at $355-360/mt CFR Bangladesh, reflecting a decline of $25/mt from the bottom of the previous range and $20/mt from the top of the same range.