Today’s snapshot — 2026-08-11
Top mover: US Midwest HRC index −$0.90 (−1.50%) to $59.06/cwt — the first material break after a run of dataset highs, and the only major ferrous benchmark to fall while the seaborne scrap complex re-rated upward.
Notable prices:
- Turkey US-origin HMS CFR = $377.93/t (+$2.93, +0.78%) — clears $375; five Fastmarkets legs moved the identical $2.93
- Rotterdam HMS 80:20 FOB = $332.45/t (+$2.93, +0.89%) — origin rose with destination, ending last week’s one-sided absorption
- Turkey shredded CFR = $390.43/t (+$2.93, +0.76%); the transacted range held 368–376 an eleventh issue
- Iron ore KORE 61% CFR Qingdao = $96.69/t (−$0.30, −0.31%)
Headline driver: The desk brief leads on Gulf routing — transits down to six vessels, below the recent ten-day average — and record-low Rhine water holding barges at 20–30% of capacity. ⚠️ Its claim that no newer cargo resets the roughly $375 physical benchmark is contradicted: the index printed $377.93, and every origin leg rose with it.
Action signal: Fade the margin-compression read. Origin FOB rose alongside destination, so sellers are no longer absorbing — the trade that looked live last Thursday is gone.