Today’s snapshot — 2026-08-06
Top mover: UK HMS 1&2 80:20 export FOB −$6.60 (−1.94%) to $333.05/t — origin sellers absorbing the adjustment as frozen indices finally caught down to where cargoes are actually clearing.
Notable prices:
- Turkey US-origin HMS CFR (MB-STE-0417) = $375.00/t (−$2.76, −0.73%) — freeze broken after seven sessions at $377.76, converging onto a third US deal concluded at $375
- Turkey shredded CFR (MB-STE-0095) = $387.50/t (−$5.71, −1.45%)
- Rotterdam HMS 80:20 FOB = $329.52/t (−$5.71, −1.70%)
- Zinc = $3,729.10/t (+$62.20, +1.70%) — the session’s biggest riser
Headline driver: The desk brief reports Gulf and Red Sea transits collapsing to a near-standstill, reversing yesterday’s de-escalation and leaving freight risk worse, not better. The tape confirms its second claim — that forward support has softened and physical is now the firmer reference. ⚠️ Its “physical Turkey stable” read holds only at the destination: CFR levels were unchanged on the daily assessment, but origin-side FOB fell 1.7–1.9%.
Action signal: Hold shredded near $400 CFR Qasim — lower oil is not lower freight while transits are stalled. Don’t cut until a carrier writes a rate.