On February 26, SteelOrbis reported ex-India DRI (sponge lumps 80 FeM) offers to Bangladesh at $340-345/mt CFR.
Sources inform SteelOrbis that offers have since softened by $5/mt to $335-340/mt CFR with trades reportedly at $330/mt CFR. A source noted that DRI import prices are presently more attractive than imported shredded scrap prices, “which are around $350/mt CFR for imported shredded scrap.” The source estimated that a continued strong scrap import market may support an increase in DRI import prices.