On October 10, SteelOrbis reported ex-India DRI offers (Sponge lumps 80 FeM) trending stable at $355-365/mt CFR Bangladesh while showing upward momentum.
According to sources near the region, ex-India DRI export offers are trending up on higher domestic prices. Offers have reported increased to $360-365/mt CFR Bangladesh. The higher DRI offers are also reportedly supported by firmer and higher - about $10-15/mt higher - imported shredded scrap offers in CFR terms compared to DRI import offers.