Today’s Snapshot — 2026-07-24
Top mover: HRC Turkey ex-works fell $20 to $590/t (−3.3%) — Turkish flats slid even as longs firmed, widening the long/flat split.
Notable prices:
- Rebar Turkey ex-works (excl. VAT) = $581/t (+$8.50) — longs turned up on rising costs
- HMS 1&2 80:20, CFR Turkey (Kallanish) = $373.0/t (+$0.50)
- Shredded scrap, CFR Turkey (Kallanish) = $393.0/t (+$0.50)
- Iron ore KORE 61% Fe, CFR Qingdao (Kallanish) = $97.54/t (+$0.73, +0.75%)
Headline driver: Iron ore recovered on renewed shipping-cost risk, while Turkish longs “changed direction as costs rise” — energy and scrap costs pushing rebar up.
Action signal (if any): Scrap complex flattened (+$0.50) after this week’s war-driven pop — the bounce is stalling near $373 CFR. No fresh catalyst; hold/wait, don’t chase above $375.