Today’s snapshot — 2026-09-17
Top mover: US containerized scrap firmed further — the HMS 1&2 (80:20) export index, fob New York, rose to $344.17/t (+2.74%) as export demand strengthened on both US coasts.
Notable prices:
- HMS 1&2 (80:20), export index, fob New York = $344.17 (+2.74%)
- HMS 1&2 (80:20), cfr Turkey = $396.00 (+0.25%)
- Shredded scrap, cfr Turkey = $416.00 (+0.24%)
- Iron ore 61% Fe, cfr Qingdao = $95.34 (+0.36%)
Headline driver: Turkish import-scrap appetite cooled today — no fresh deal followed Tuesday’s US-origin cargo near the $400/t threshold, as mills wait to gauge domestic steel sales — even as US export offers kept firming on strong domestic demand, a divergence between a pausing buy side and a firming sell side.
Action signal: Wait — hold Pakistan shredded within the $417-420/MT CFR Qasim band (no fresh print today) and reconfirm freight before quoting; the brief flags Hormuz traffic falling to just three vessels even as oil eased, unconfirmed independently.