Steel prices in the first week of June 2026

Global steel and raw material prices recorded mixed movements in the first week of June 2026, with scrap and iron ore prices declining, while billet prices remained stable in some markets and certain finished steel products registered modest gains. This is according to data obtained by the Arab Iron and Steel Union.

Imported HMS 1&2 (80:20 mix) scrap prices in Turkey from the United States decreased by $3 per tonne to reach $406 per tonne CFR. Likewise, Australian 62% iron ore prices declined by $3 per tonne to $102 per tonne CFR.

In the billet market, Russian billet prices remained unchanged from the previous week at $485–490 per tonne FOB. Meanwhile, Chinese billet prices increased by $3 per tonne to $470–480 per tonne FOB. Billet imported into Turkey from CIS countries also remained stable at $505–510 per tonne CFR.

Turkish rebar prices increased by $3 per tonne to $590–600 per tonne FOB, while CIS-origin rebar recorded a stronger increase of $8 per tonne, reaching $545–550 per tonne FOB.

In the flat steel segment, Turkish wire rod prices remained stable at $610–615 per tonne FOB. Russian hot-rolled coil (HRC) prices increased by $8 per tonne to $535–545 per tonne FOB, while Chinese cold-rolled coil (CRC) prices (1 mm thickness) remained unchanged at $565–585 per tonne FOB.

The performance of global markets reflects the continued cautious sentiment among market participants, coupled with varying demand levels across different regions. This has resulted in lower prices for key raw materials, while some finished steel products posted limited gains.

The following is the

steel prices

statement in the global markets on 06 June 2026