Today’s Snapshot — 2026-07-15
Top mover: Iron ore KORE 61% Fe CFR Qingdao rebounded +$3.55 (+3.6%) to $102.23/dmt — its highest in nearly a month — as a threatened BHP Western Australia strike and China’s CMRG order to suspend some low-grade ore intake from 15 July stoked supply-tightness fears.
Notable prices:
- Iron ore KORE 61% Fe CFR Qingdao = $102.23/dmt (+$3.55, +3.6%); 65% Fe = $119.22 (+$3.61)
- HMS 1&2 80:20 CFR Turkey = $368.0/t (−$1.00, −0.3%)
- Shredded scrap CFR Turkey = $388.0/t (−$1.00, −0.3%)
- Black Sea billet export index = $464/t (−$8, −1.69%); Russian offers eased to $480–485 cfr
Headline driver: Bearish sentiment grips the Turkish scrap market — mills push lower on weak finished-steel demand and thin margins, with a Polish HMS 80:20 deal booked at just $362.5/t cfr.
Action signal: No actionable buy signal — Turkish scrap firmly bearish with mills targeting sub-$365 US-origin; wait for stabilisation before offering fresh cargoes.