2026-10-23

Today’s snapshot — 2026-10-23

Today’s snapshot — 2026-10-23

Top mover: Kallanish Turkey rebar ex-works fell $10.50 (-1.70%) to $607.0 in its 22 Oct daily strip; the brief’s shipping-risk driver is unrelated to this move, and the Turkish long-products tape is softening while scrap holds flat.

Notable prices:

• Rebar Turkey ex-works (Kallanish, 22 Oct) = $607.0 (-$10.50, -1.70%)
• KORE 61% Fe Qingdao CFR (Kallanish, 22 Oct) = $89.74 (-$1.00, -1.10%)
• Shredded Scrap Turkey CFR (Kallanish, 22 Oct) = $414.0 (+$1.00, +0.24%)
• Shredded CFR Port Qasim (Fastmarkets MB-STE-0887, last print 16 Oct, no new print) = $414.07 (-$3.24, -0.78% vs prior print)

Headline driver: Rising Gulf shipping-security risk and crude prices are the desk’s freight concern (brief, unconfirmed by any freight print here), while the physical tape is quiet: Fastmarkets scrap is unchanged and Kallanish Turkey HMS 1&2 80:20 is +$1.00 to $394.0; Kallanish notes Pakistan import offers rising after a vessel loss, but buying remains subdued.

Action signal (if any): No actionable signal today — wait for matched, dated CFR Port Qasim offers before committing; no fresh Qasim print to anchor a decision.