Today’s snapshot — 2026-07-21
Top mover: Iron ore KORE 61% Fe −$1.54 (−1.53%) to $99.13/dmt — dropped below $100 as the mid-July supply-scare premium fully drained (BHP non-strike, ample Rio output) against a weak seasonal Chinese steel-demand lull (data 20 Jul).
Notable prices:
- Iron ore KORE 61% Fe CFR Qingdao = $99.13/dmt (−$1.54, −1.53%)
- HMS 1&2 80:20 CFR Turkey = $368.0/t (flat)
- Shredded CFR Turkey = $388.0/t (flat)
- Rotterdam FOB shredded = $349.5/t (−$2.00, −0.57%)
Headline driver: “Iron ore drops below $100” — the seasonal Chinese demand lull and the drained war-risk premium pulled KORE 61% under the line, with Tangshan billet also easing −¥10 and SGX 62% futures slipping to $99.0.
Action signal: No actionable signal today — Turkey scrap flat a sixth session at $368 (EU/US offers hover, no mill acceptance); sub-$100 iron ore pressures Chinese billet/metallics but is not a direct scrap catalyst. Hold Turkey inbound at $365–370.