Steel prices in the fourth week of August 2026

Steel and iron ore prices in global markets showed mixed movements during the week ending August 22, 2026, with rebar and wire rod prices increasing, while scrap, billet, and Russian hot-rolled coil prices declined, according to data obtained by the Arab Iron and Steel Union.

HMS 1&2 (80:20 mix) scrap in Turkey, of U.S. origin, was priced at $375 per tonne CFR, down $1 per tonne from the previous week.

In contrast, Australian 62% Fe iron ore increased to $98 per tonne CFR, up $1 per tonne.

Billet prices ranged between $460 and $465 per tonne FOB Russia, down $5 per tonne. Chinese billet prices remained stable at $455 per tonne FOB, while Turkish billet of CIS origin ranged between $500 and $505 per tonne CFR, unchanged from the previous week.

Turkish rebar prices recorded a notable increase, ranging between $580 and $595 per tonne FOB, up $8 per tonne. Rebar from the CIS remained stable at $550–560 per tonne FOB.

Turkish wire rod prices recorded a stronger increase, ranging between $595 and $610 per tonne FOB, up $20 per tonne.

Meanwhile, Russian hot-rolled flat steel coil prices declined to $500–510 per tonne FOB, down $5 per tonne, while Chinese cold-rolled flat steel coil, 1 mm thick, remained stable at $530–550 per tonne FOB.

These developments reflect continued divergence in global steel market trends, with prices for some finished steel products rising while several raw materials and semi-finished products remained stable or declined.

The following is the steel prices statement in the global markets on 22 August 2026