Today’s snapshot — 2026-08-27
Top mover: India shredded scrap CFR +1.11% to $392.75 (Fastmarkets MB-STE-0421, 25 Aug data) — the only material scrap gain on the tape, narrowing Pakistan’s premium over India to $20.88 from $25.45 a week ago.
Notable prices:
- India shredded scrap CFR = $392.75 (+$4.32, +1.11%)
- Pakistan shredded scrap CFR Port Qasim = $413.63 (-$0.25, -0.06%)
- HMS 1&2 80:20 CFR Turkey = $372.00 (-$1.00, -0.27%)
- Shredded scrap CFR Turkey = $392.00 (-$1.00, -0.25%)
Headline driver: The desk read is freight-led — September container rates are expected to rise sharply and are the largest immediate cost risk, against weak mill utilisation and need-based buying; falling crude is not yet a reason to cut freight assumptions. Physical is flat-to-lower, not firm: Turkish legs eased or froze and US-origin CFR Turkey held unchanged, while the exchange scrap reference cited in commentary sits $6-$10 above the tape — forward sentiment, not a cargo price.
Action signal (if any): Wait on origin-side purchases; secure written September freight before committing to September-loading material.