Today’s snapshot — 2026-07-28
Top mover: FM US-origin HMS 80:20 cfr Turkey (MB-STE-0417) +$3.54 (+0.95%) to $377.76 — the scrap complex resumed firming on fresh US-origin bookings after last week’s stall (data 27 Jul).
Notable prices:
- Turkey HMS 80:20 CFR (K) = $374.0/t (+$1.00); Baltic-origin $374.0/t (+$3.00)
- FM shredded cfr Turkey (MB-STE-0095) = $393.21/t (+$3.54, +0.91%); K shredded $394.0 (+$1.00)
- Rotterdam HMS FOB (MB-STE-0420) = $335.23/t (+$3.54, +1.07%) — EU export firming with Turkey
- Iron ore KORE 61% = $97.2/t (−$0.43); US Midwest HRC $58.66/cwt (−0.29%)
Headline driver: “USTR imposes additional 12.5% tariff on US imports from 60 economies” — market reaction mixed, as many had priced in the combined duty since June; separately, Kallanish flags iron ore easing on oversupply concerns.
Action signal (if any): Hold — Turkey scrap firmed to ~$374–378 but it’s still war/freight-driven, not demand (SO HMS flat $368–376, rebar FOB flat $565–575); do not chase above $380.