Today’s snapshot — 2026-09-21
Top mover: Zinc rose to $3933.83/t (+1.16%) as base metals firmed broadly on the day.
Notable prices:
- Shredded scrap, index, cfr Port Qasim = $418.68 (-0.21%)
- HMS 1&2 (80:20), cfr Turkey = $397.00 (0.00%)
- Iron ore 61% Fe, cfr Qingdao = $96.57 (+0.27%)
- Zinc = $3933.83 (+1.16%)
Headline driver: Gulf oil flows are recovering while visible Hormuz shipping stays far below normal (12 vessels over the weekend versus 35 the weekend before), so freight risk persists even as Turkish scrap held flat and Fastmarkets’ delayed first Friday Pakistan print eased $0.88.
Action signal: Wait — reconfirm freight before any CFR quote; Turkey is flat and Pakistan’s index eased, so there is no case for chasing prices higher.