Today’s snapshot — 2026-10-15
Top mover: UK domestic 1&2 old steel (Fastmarkets MB-STE-0077) rose £5 (+3.03%) to £160-180/t on 14 Oct, part of a UK-wide £5 lift across heavy, bales and cast grades; no stated driver in the prints.
Notable prices:
- Turkey Shredded CFR (Kallanish) = $415.00 (0, flat)
- Turkey HMS 1&2 80:20 US-origin CFR (Fastmarkets) = $394.72 (0, flat fourth print)
- Iron Ore KORE 61% Fe CFR Qingdao = $90.16 (+0.08, +0.1%)
- Iron Ore 62% Fe CFR China (SteelOrbis) = $92.20 (+0.30, +0.33%)
Headline driver: The sanitized brief points to route and insurance risk after two vessel sinkings near Hormuz (Reuters-reported), but the Turkey tape shows no reaction: Kallanish shredded and HMS both unchanged after Wednesday’s $2.50 dip. Pakistan’s published CFR Port Qasim shredded price (Fastmarkets MB-STE-0887) is still the 9 Oct print of $417.31, with no new assessment.
Action signal: No actionable signal today. Hold quotes and wait for Friday’s Pakistan assessment; keep routing and war-risk terms (20FT) confirmed in writing.