Today’s snapshot — 2026-09-28
Top mover: LME zinc fell to $3,905.90/t (-70.95, -1.78%) in Monday’s Kallanish print, leading a broad base-metals pullback as a stronger dollar and rebounding oil weighed on the complex.
Notable prices:
- Zinc = $3905.9 (-70.95, -1.78%)
- Nickel = $16385.0 (-145.00, -0.88%)
- HMS 1&2 80:20 EU-origin CFR Turkey = $397.5 (3.50, 0.89%)
- A3 HMS 1&2 80:20 Short-Sea CFR Turkey = $382.5 (4.00, 1.06%)
Headline driver: Per the sanitized desk brief, a stronger dollar and a rebound in Brent/WTI (continued Iran mediation, no Hormuz reopening) weighed on the whole LME non-ferrous complex — aluminium, lead and nickel also fell in early Monday trade — while Turkish CFR scrap benchmarks held firm to slightly higher, decoupled from the non-ferrous pullback.
Action signal: Wait on non-ferrous fixing — use today’s zinc/nickel pullback to reopen supplier talks without fixing prematurely; hold ferrous buying discipline, no chasing above the $420/MT Pakistan shredded offer zone without an executable buyer.