Today’s snapshot — 2026-10-12
Top mover: Zinc (Kallanish) jumped 2.4% to $3,801.55/t, extending the week’s LME advance — but the day’s bigger structural story is Pakistan’s shredded index breaking its freeze.
Notable prices:
- Zinc = $3801.55 (90.35)
- Pakistan Shred 211 CFR Qasim = $417.31 (1.70)
- Turkey HMS 1&2 80:20 = $397.50 (-1.00)
- Turkey Shredded CFR = $417.50 (-1.00)
Headline driver: Fastmarkets’ MB-STE-0887, the published CFR Port Qasim shredded price, printed for the first time in 8+ sessions — $417.31, up from the frozen $415.61 — while Turkey’s chain eased again on mill pressure after a fresh sub-offer Dutch cargo. Per the sanitized brief, Pakistan pricing still reads as unconfirmed on its own research; the dated PDF print is the harder fact and takes precedence.
Action signal: Re-test any live Pakistan offer against the fresh $417.31 print, not the stale $415.61 anchor — but still require an executable buyer bid before paying above it; the brief’s “unconfirmed” read doesn’t override a dated publisher print.