The new Mikkelson guy at the Lower Market speaks of scrap metal from a sunken Drow ship. Upon locating the steel and bringing it back to him he doesn't say anything differently. He does not offer to buy it, and neither does the original Mikkelson. Is this intentional or a bug?

Obviously, nobody needs steel anymore.

Yeah, this is pretty annoying. I died getting the metal, almost twice, I bring it back, and get nothing from it.

I just did this quest about 10 hours ago. Worked fine for me. Worked fine for me every time I've tried it. I'll try again today and see if I can guess what's happening to you guys.

[EDIT] On second thought, that is a little spoiler-ish. Anyways, did it again and it worked fine. I can only guess that you are choosing the wrong dialog choices.

HOLY CARP SPOILERS

I mean, it worked for me as well, again.

Alright, I got it to work.

Also I realized what might have happened last tiime. Last time when I picked up the metal it didn't update my journal. I believe someone else may have picked it up from its initial position and then put it back down in a slightly different spot (prob. too heavy for them). So then when I picked it up, it never updated my journal, and Mikkelson never "knew" that I had it.

I believe someone else may have picked it up from its initial position and then put it back down in a slightly different spot

That would definitely seem to be problematic, since it updates your journal only when you go through the dialogue to obtain it.