Today’s snapshot — 2026-07-20
Top mover: Taiwan HMS 1&2 CFR −$7.50 (−2.23%) to $329/t — soft US West-Coast container supply and weak Taiwanese mill demand drag Asian deep-sea scrap lower (data 17 Jul).
Notable prices:
- Turkey HMS 1&2 80:20 CFR = $368.0/t (flat); Baltic-origin $366.0 (+$0.50)
- Pakistan E40 shredded CFR = $395.0/t (+$2.50, +0.64%)
- Turkey billet ex-works = $535.0/t (+$7.50, +1.42%)
- Iron ore KORE 61% Fe CFR Qingdao = $100.67/dmt (−$0.17, −0.17%)
Headline driver: “Freight-driven scrap offer hike tests Turkish mills” — after Iran/Hormuz lifted freight $3–4/t, EU suppliers now target ~$370 and US >$375 cfr for HMS 80:20, with one calling $363 “the bottom,” though mills resist absent stronger steel demand.
Action signal: Wait/hold — suppliers pushing offers up on freight while Turkey HMS holds $368 and Pakistan firms; hold inbound at $365–370 and watch for the first mill acceptance above $368 to confirm the floor.