Today’s snapshot — 2026-09-25
Top mover: Zinc jumped to $3,976.85/tonne (+$76.57, +1.96%) as the broader base-metals complex held firm, with LME copper still trading above $14,600/MT.
Notable prices:
- Zinc = $3976.85 (76.57, 1.96%)
- HMS 1&2 80:20 US-origin CFR Turkey = $402.00 (0.00, 0.00%)
- HMS 1&2 80:20 Export FOB New York = $349.00 (4.83, 1.40%)
- Iron Ore 62% Fe CFR China = $97.20 (0.40, 0.41%)
Headline driver: Supplier offers for Pakistan-bound shredded are reportedly running well above the last verified physical trade, per the desk brief, while Hormuz vessel traffic stays below its 10-day average despite improving crude flows — a cautious tone matched by today’s flat-to-soft Turkish scrap and rebar prints, where mills are resisting further increases as domestic demand stalls.
Action signal: Hold — don’t chase elevated Pakistan offer levels without executable buyer support; reconfirm freight before fixing any CFR.