The Week in One Page — Week of 6 September 2026
Bottom Line
Turkish scrap prices jumped $8 a tonne this week, then went flat. Don’t chase that price yet — but do reach out to buyers in Bangladesh, a new market that just moved hard.
5 Things You Need to Know
- Turkish scrap jumped to $380 a tonne, the first real move up in weeks — then stayed flat for two days.
- Bangladesh had the sharpest jump of the week, up more than 4% in a single day.
- Pakistan’s price eased slightly but is still near its highest level in months.
- The price gap between India and Turkey shrank fast, mostly because Turkey caught up.
- US-Iran tension worsened over the weekend. Oil hit its highest price since late July.
Top 3 Actions This Week
- Hold off raising Turkish buying limits. WHEN: This week. PRICE: $380 a tonne. WHY: The price hasn’t moved past $380 in two days, so paying more risks overpaying.
- Reach out to Bangladesh buyers now. WHEN: This week, while the move is fresh. PRICE: Up over 4% to $405 a tonne. WHY: This looks like a new, separate buying trend, not a copy of Turkey.
- Treat Pakistan’s published price as a ceiling, not a target. WHEN: Ongoing. PRICE: $418.75 a tonne. WHY: Real trades keep closing below that number, so paying it likely means overpaying.
Why Prices Moved (and Other Changes)
Turkey’s jump came from one buyer accepting a higher price on one shipment, not broad demand — that’s why it stopped moving right after. US-Iran tension worsened this weekend: warships were targeted and oil tankers were hit, raising shipping risk, though no carrier has raised rates yet. Pakistan stayed soft because local mills are running at only about a third of capacity and can’t afford to pay more. No new rules or trade barriers changed this week.
What to Watch Next Week
- A real, confirmed sale above $380 a tonne into Turkey — that would show the rally is continuing, not pausing.
- Whether Bangladesh’s jump holds next week. If it does, it’s a real market, not a one-off.
- Any sign shipping lines raise rates on the Pakistan route. Sellers have warned about this for weeks; it hasn’t happened yet.
Plain-English Glossary
- Scrap — old steel, melted down and reused to make new steel.
- Index — a published price tracking what a type of scrap is selling for, based on real deals reported to a news service.
- A tonne — a metric ton, about 2,205 pounds. Scrap is bought and sold by the tonne.
Read More
- Watchlist Priorities — this week’s public read on where prices are leaning.