Today’s snapshot — 2026-09-09
Top mover: HMS 1&2 (80:20) cfr Turkey rose to $379.50/t (+0.53%), lifted by freshly reported ex-Baltic scrap cargo fixtures firming the deep-sea benchmark.
Notable prices:
- HMS 1&2 80:20, cfr Turkey = $379.50 (+0.53%)
- Shredded scrap, index, cfr Port Qasim Pakistan = $421.11 (+0.23%)
- Iron ore 62% Fe, cfr Qingdao = $101.01 (+0.61%)
- HRC, index, fob mill US Midwest = $61.12 (-1.72%)
Headline driver: Turkey import scrap firmed on freshly reported ex-Baltic cargo fixtures while Pakistan shredded held a stronger CFR band amid selective buyer demand, and Brent crossed $100/bbl for the first time since late July as Gulf shipping risk deepened.
Action signal: Pursue only buyer-backed Pakistan shredded business inside the current CFR band with confirmed freight and documentation path; avoid speculative buying while tax/PSIC clearance uncertainty and Gulf freight risk remain unresolved.