Today’s snapshot — 2026-10-14
Top mover: Chicago machine shop turnings (Fastmarkets) rose $30 (12.5%) to $270/gross ton, the largest move in a Chicago consumer-buying complex that was lifted $30 across the board in the latest prints, consistent with an October US reset.
Notable prices:
- Turkey Shredded CFR (Kallanish) = $415.00 (-2.50, -0.6%)
- Turkey HMS 1&2 80:20 US-origin CFR (Fastmarkets) = $394.72 (0, flat third session)
- Iron Ore KORE 61% Fe CFR Qingdao = $90.08 (-0.69, -0.8%)
- HRC GCC CFR (Kallanish, weekly) = $628.50 (+13.50, +2.2%)
Headline driver: Turkey scrap is drifting lower on Kallanish (HMS and shredded each -$2.50) while Fastmarkets’ US-origin HMS print is unchanged. Per the sanitized brief, a container ship was reported sunk near the Strait of Hormuz, lifting route-risk concerns for containerised scrap; the physical tape shows no price response yet. Pakistan’s published CFR Port Qasim shredded price (Fastmarkets MB-STE-0887) is weekly with no new print today, so the Pakistan level stays at the last Friday print. Per CBP guidance dated 2026-10-13 (via GHY), Commerce issued Section 232 U.S.-content guidance for USMCA-eligible steel, aluminium and copper goods.
Action signal: No actionable signal today — revalidate carrier routing and wait for Friday’s Pakistan print before moving quotes.