Today’s Snapshot — 2026-07-10
Top mover: India HMS 80:20 (West Africa origin) CFR −$7.50 (−2.15%) to $342.5/t (K) — the sharpest scrap-complex drop, with Indian buyers on the sidelines and only limited discounted bookings clearing.
Notable prices:
- HMS 1&2 80:20, cfr Turkey (K) = $369.0/t (flat, 0%) — held after this week’s slide
- US East Coast HMS 80:20 FAS, New York (K) = $322.5/t (−5.00, −1.53%)
- India shredded E40, cfr (K) = $382.5/t (−2.50, −0.65%)
- CIS Black Sea billet FOB (K) = $462.5/t (−7.50, −1.59%)
Headline driver: “Turkish longs pricing continues decline, reflecting weak sentiment” — rebar ex-works −$5 to $570, keeping any scrap-side recovery capped.
Action signal: Wait — Turkey scrap flat two days ($369/$366.5) but no confirmed floor while longs and US/India export scrap slide; hold offers. Watch capesize freight spiking +7–14% on key lanes lifting delivered cost.