Today’s snapshot — 2026-10-07
Top mover: Zinc (Kallanish) extended its bounce for a second straight session, up $29.13 (+0.78%) to $3,771.43/t.
Notable prices:
- Zinc = $3771.43 (29.13)
- Nickel = $15670.0 (25.00)
- US HRC Midwest = $62.94 (0.23)
- HRC GCC = $615.0 (2.50)
Headline driver: Per the sanitized desk brief, tanker attacks in the Strait of Hormuz reached their highest weekly level since the conflict began, with Iran reportedly planning to block routes it considers illegal — a freight-risk escalation that hasn’t yet shown up in Turkey’s physical scrap prints, which held flat today across both publishers still carrying them (Kallanish’s Turkey strip was absent from today’s issue).
Action signal: Reconfirm war-risk and security surcharges on any Gulf-linked freight before quoting — the escalation is real even though it hasn’t moved ferrous prices yet. No action on Turkey or Pakistan pricing today; both unchanged.