Today’s Snapshot — 2026-07-07
Top mover: HMS 1/2 80:20 US East Coast FOB = $329.0/t, down $15.50 (−4.5%) on the day — the steepest drop across benchmarks, driven by collapsing Turkish/European export demand pulling deep-sea scrap lower.
Notable prices:
- HMS 1&2 80:20 CFR Turkey = $371.0/t (−$2.00, −0.5%)
- Shredded scrap CFR Turkey = $393.0/t (unchanged)
- HMS 1/2 80:20 FOB Rotterdam = $336.0/t (−$10.00, −2.9%)
- Iron ore KORE 61% Fe CFR Qingdao = $98.5/t (−$1.71, −1.7%)
Headline driver: Export price pressure dragged Benelux dock scrap to ~€270/t delivered (−€10/t w/w), with exporters unwilling to pay up while Turkish and EU steel sales stay weak.
Action signal: Wait — Turkish import scrap and European FOB are still sliding with no confirmed bottom; hold off committing scrap purchases and let the correction run.