The Week in One Page — Week of 10 October 2026
Bottom Line
Turkey’s scrap price fell this week, confirmed by two separate trackers at once. Pakistan’s published CFR Port Qasim shredded price (Fastmarkets) posted no new reading — hold firm at the last confirmed number and don’t pay a premium for a price that hasn’t printed.
5 Things You Need to Know
- Turkey’s scrap price fell this week: one tracker (Fastmarkets) down 1.2 percent to $409.91 per tonne; another (Kallanish) down 0.4 percent to $418.50 per tonne.
- European scrap leaving Rotterdam fell too, down 1.4 percent to $350 per tonne, after five flat days.
- Iron ore dropped 2.5 percent to $92.70 per tonne, its lowest point in three months, as China came back slow from a holiday.
- Pakistan’s published Qasim price got no fresh reading this week. The last confirmed number is still October 1st, at $415.61 per tonne.
- Shipping into Pakistan got pricier this month — about $41.80 per tonne, up from $39.20.
Top 3 Actions This Week
- Reprice Turkey deals off this week’s lower numbers. WHAT: use $409.91 (Fastmarkets) or $418.50 (Kallanish) per tonne, not last week’s levels. WHEN: immediately. WHY: both trackers moved down together, a stronger signal than one alone.
- Hold Pakistan buying at $415.61 per tonne, the published Qasim price; don’t pay a premium for an unconfirmed number. WHAT: keep quoting off the last confirmed reading. WHEN: until a fresh number posts. WHY: nothing new has published this week, so a higher asking price isn’t backed by a current figure.
- Use the new, higher Pakistan freight number in any fresh quote. WHAT: $41.80 per tonne, not last month’s $39.20. WHEN: before quoting any new Pakistan deal. WHY: shipping rose about 7 percent this month; an old number under-prices the deal.
Why Prices Moved (and Other Changes)
Turkey’s price fell on two separate trackers at once, a stronger signal than one tracker moving alone. One internal note this week described a bigger Turkey drop than the trackers above show; that number used a different starting point, so use the figures above instead. Iron ore fell hard once China reopened after its holiday and buyers came back slower than expected — that soft tone is spreading into the wider steel market too. Pakistan’s published Qasim price simply did not publish a new reading this week, even though it was due. That is a data gap, not proof the market is quiet.
What to Watch Next Week
- Does Pakistan’s published Qasim price post a fresh reading next week, and where does it land?
- Does Turkey’s drop keep going, or find a floor?
- Does iron ore keep falling, or bounce back now China is fully back from holiday?
Plain-English Glossary
- CFR — Cost & Freight; the price INCLUDES shipping to the buyer’s port.
For the full ranked list of what we’re watching and why, see Watchlist Priorities.