On September 14, SteelOrbis reported ex-India DRI offers up at $390-395/mt CFR Bangladesh with active demand.
Sources inform SteelOrbis that export DRI prices have since declined as domestic DRI prices have also trended down. Offer prices are now reportedly at $380-386/mt CFR Bangladesh. Prices declined $10/mt from the bottom of the previous range and $9//mt from the top of the same range. A source noted that DRI offer prices are presently higher than containerized shredded scrap imports, therefore, they expect DRI prices to soften but receive support from strong import scrap prices. The source also noted that through the Q2 2018 ex-India DRI prices were lower than shredded scrap import offers and that such a price dynamic may return in Q4.