Today’s snapshot — 2026-09-18
Top mover: Iron ore 61% Fe, cfr Qingdao, rose to $96.31/t (+1.02%) on higher freight costs and continued pre-holiday restocking demand from Chinese steelmakers.
Notable prices:
- HMS 1&2 80:20, cfr Turkey = $397.00 (+0.25%)
- Shredded scrap, cfr Turkey = $417.00 (+0.24%)
- Iron ore 61% Fe, cfr Qingdao = $96.31 (+1.02%)
- Zinc = $3888.70 (+2.04%)
Headline driver: A broadly firm ferrous complex today — iron ore firmed on freight and restocking demand while Turkish scrap and rebar extended their climb, consistent with the brief’s read that Turkish import scrap is nearing a three-month high on tight supply and higher freight.
Action signal: Wait — hold Pakistan shredded within $417-420/MT CFR Qasim; Fastmarkets’ first Friday-cadence Pakistan assessment was due today but no public number had landed by the brief’s cutoff, and Hormuz traffic remains severely depressed (4 vessels vs. a 16-day average) despite Saudi Arabia’s Oman workaround — reconfirm freight before quoting.