Today’s snapshot — 2026-10-02
Top mover: Zinc fell sharply to $3,726.73/t (-99.77, -2.61%), its biggest single-day drop in weeks and a sixth-plus straight declining session, even as Turkish ferrous CFR benchmarks held exactly where yesterday’s pullback left them.
Notable prices:
- Zinc = $3726.73 (-99.77, -2.61%)
- SGX Iron Ore Futures = $92.34 (-4.25, -4.40%)
- Welded Pipe Turkey FOB = $635.0 (-25.00, -3.79%)
- Germany Electricity Spot = $161.31 (3.65, 2.32%)
Headline driver: Per the sanitized desk brief, fresh supplier offers for Pakistan shredded jumped to $440-445/MT (up $4-6/MT week-on-week per the analyst’s read), widening the gap over the still-unconfirmed ~$417/MT physical anchor to $23-28/MT — the brief explicitly cautions this is an offer signal, not a new physical-trade benchmark, and the PDF tape shows no transaction confirming it.
Action signal: Wait — do not chase the $440-445/MT Pakistan offer zone without an executable buyer; also wait on non-ferrous fixing given zinc’s sharp, continuing slide, and re-check the reference price before quoting any zinc-linked deal today.