Today’s snapshot — 2026-09-01
Top mover: Iron ore 61% Fe CFR Qingdao +1.26% to $99.02 (Kallanish, 31 Aug data) — Chinese raw materials led the tape, with domestic rebar +1.79% and domestic HRC +1.19% on the same session and the export HRC index clearing $500.
Notable prices:
- Iron ore 61% Fe CFR Qingdao = $99.02 (+$1.23, +1.26%)
- China HRC export index FOB = $502.17 (+$4.63, +0.93%)
- Turkey shredded scrap CFR = $392.50 (+$0.50, +0.13%)
- HMS 1&2 80:20 CFR Turkey = $372.50 (+$0.50, +0.13%)
Headline driver: The desk read is route-and-energy led — Gulf transit traffic fell further to roughly five vessels a day, oil rose again, and a carrier’s Far East–Pakistan surcharge structure widened by container size. The tape does not contradict it, and for once the macro checks out: the public series carries Brent $90.49 (31 Aug), confirming the brief’s above-$90 read. ✅ Turkey also unfroze — both Kallanish legs added $0.50 after holding flat, the first move in either direction for several sessions.
Action signal (if any): Quote prompt Pakistan business on current freight with short validity, and price 20ft ferrous separately from 40ft — the surcharge structures now differ by size.