Today’s snapshot — 2026-09-16
Top mover: Kallanish’s KORE 61% Fe iron ore index fell to $95.00/dmt cfr Qingdao (-0.63%) as renewed calls for Chinese steelmaker output cuts weighed on sentiment.
Notable prices:
- HMS 1&2 (80:20), US-origin, cfr Turkey = $397.50 (+0.38%)
- Shredded scrap, cfr Turkey = $415.00 (+0.36%)
- Iron ore 61% Fe, cfr Qingdao = $95.00 (-0.63%)
- Zinc = $3820.13 (+0.34%)
Headline driver: Freight and energy risk are today’s dominant story — a Saudi pipeline attack and a sharp drop in Strait of Hormuz vessel traffic are pushing up route and insurance costs, even as Turkish import scrap keeps a firm uptrend toward the $400/t threshold.
Action signal: Wait — hold Pakistan shredded within its recent verified band and reconfirm every open freight quote before issuing a CFR offer, given elevated Hormuz and Yanbu route risk.