Today’s snapshot — 2026-07-22
Top mover: Steel scrap HMS 80:20 US-origin cfr Turkey (FM MB-STE-0417) +$4.65 (+1.27%) to $369.41 — the long-frozen transaction index broke higher, confirming US-origin deals clearing above $369 as the freight-driven offer hike finally lands (data 21 Jul).
Notable prices:
- FM US-origin HMS 80:20 cfr Turkey = $369.41 (+$4.65, +1.27%)
- HMS 1&2 80:20 CFR Turkey (K general) = $369.0 (+$1.00); Baltic $367 (+$1)
- Shredded CFR Turkey = $389.0 (+$1.00, +0.26%)
- Iron ore KORE 61% Fe CFR Qingdao = $98.92 (−$0.21, still sub-$100)
Headline driver: Freight-driven offer hikes are landing — Turkey scrap ticked up $1 across the K complex and the US-origin index jumped $4.65, even as Kallanish flags overall “Turkish scrap activity subdued by weak steel demand.”
Action signal: Firming — the freight-driven hike is landing (FM US-origin broke its freeze to $369.41; K complex +$1; US docks +$5). Lift new Turkey offers toward $369–372 and stop pricing below $368; but it’s cost-push not demand, so no chase.