Steel prices in the first week of July 2026

Global steel and raw material prices remained under pressure in the first week of July 2026, according to data obtained by the Arab Iron and Steel Union. Scrap prices continued to decline, while iron ore, billet, and rebar prices fell across several major markets. Meanwhile, some products maintained stable price levels without significant changes.

Imported HMS 1&2 (80:20) scrap prices in Turkey decreased by US$14 per tonne to US$373/t CFR. Australian 62% Fe iron ore prices also declined by US$1 per tonne to US$98/t CFR, marking their lowest level in several weeks. This decline comes amid continued pressure on the iron ore market as participants closely monitor developments in Chinese demand.

In the semi-finished products market, Russian billet prices fell by US$10 per tonne to US$470–475/t FOB, while Chinese billet prices declined by US$3 per tonne to US$460–465/t FOB. Meanwhile, imported CIS billet prices in Turkey dropped by US$15 per tonne to US$485–490/t CFR.

In the finished steel segment, Turkish rebar prices declined by US$13 per tonne to US$570–580/t FOB, while CIS rebar prices remained unchanged at US$550–560/t FOB. Turkish wire rod prices also fell by US$8 per tonne to US$580–595/t FOB.

In the flat steel market, Russian hot-rolled coil (HRC) prices remained stable at US$530–535/t FOB, whereas Chinese cold-rolled coil (CRC, 1 mm) prices declined by US$5 per tonne to US$550–560/t FOB.

These price movements reflect the continued cautious sentiment in global steel markets, driven by weak demand across several key regions and ongoing pressure on raw material and semi-finished steel prices, which continues to weigh on finished steel product prices.

The following is the steel prices statement in the global markets on 27 June 2026