Today’s snapshot — 2026-09-08
Top mover: Turkey rebar (Marmara, 8mm ex-works) rose to $654.00/t (+0.77% since 3 Sep), as Turkish mills pushed prices higher on the back of firmer import scrap and currency moves.
Notable prices:
- HMS 1&2 80:20, cfr Turkey = $382.45 (0.00%)
- Turkey rebar, Marmara 8mm = $654.00 (+0.77%)
- Iron ore 62% Fe, cfr China = $102.30 (+0.79%)
- HRC, fob China (big mills) = $510.00 (+0.49%)
Headline driver: Route and energy risk was the day’s dominant story — Brent climbed above $98/bbl and Hormuz transits stayed impaired (7 vessels Monday vs 8 Sunday) even as Bab el-Mandeb traffic rebounded — while physical ferrous scrap benchmarks held flat; Turkish rebar and HRC firmed instead on cost-push from earlier scrap gains, not fresh demand.
Action signal: Test buyer acceptance inside the $413-417/t Pakistan shredded zone rather than the $420-422 standard-offer band; refresh every freight quote before issuing a CFR offer given today’s oil-driven surcharge risk.