Today’s snapshot — 2026-07-16
Top mover: Iron ore Iron Ore CFR Qingdao KORE 61% Fe −$2.07 to $100.16/dmt (−2.0%) — gave back most of yesterday’s supply-scare pop as Rio Tinto’s strong Q2 output (+5% y/y) reinforced ample-supply expectations.
Notable prices:
- Iron ore KORE 61% Fe CFR Qingdao = $100.16/dmt (−$2.07, −2.0%)
- HMS 1&2 80:20 CFR Turkey = $368.0/t (unch)
- Shredded CFR Turkey = $388.0/t (unch)
- US CRC N. America ex-works = $1,365/s.ton (+$15, +1.1%; multi-year high)
Headline driver: US steel coil prices reached multi-year highs — HRC $1,150–1,185/st and CRC $1,350–1,380/st (highest since 2023/2022) on tight spot availability and firm auto/energy demand.
Action signal: No actionable signal today — Turkey scrap flat a third session with no floor catalyst; hold inbound offers at $363–368 CFR and don’t chase the iron-ore reversal.