Steel prices in the second week of August 2026

Steel and raw material prices showed mixed price movements at the beginning of the second week of August, according to data obtained by the Arab Iron and Steel Union.

The price of HS1&2 scrap (80:20 mix), Turkey, ex-USA CFR, stood at around USD 375 per ton, down by USD 1 per ton compared to the previous week.

The price of 62% iron ore, Australia CFR, remained stable at USD 96 per ton, unchanged on a weekly basis.

In the billet market, Russian FOB prices remained stable at USD 470–475 per ton, while Chinese FOB billet was priced at USD 450–455 per ton, down by USD 5 per ton compared to the previous week. Meanwhile, Turkish billet, ex-CIS CFR, increased to USD 500–505 per ton, representing an increase of USD 13 per ton.

As for Turkish rebar FOB, prices reached USD 575–585 per ton, up by around USD 5 per ton week-on-week, while rebar from the CIS FOB remained stable at USD 550–560 per ton.

In the wire rod market, prices in Turkey FOB ranged between USD 580 and USD 585 per ton, an increase of USD 3 per ton compared to the previous week.

Meanwhile, Russian hot-rolled flat steel coils FOB remained stable at USD 510–520 per ton, while 1 mm cold-rolled flat steel coils, China FOB, remained at USD 530–550 per ton, according to the latest update dated August 1, 2026.

The price movements during the week reflect continued divergence across raw material and finished steel markets, with iron ore and Russian billet remaining stable, while Turkish billet, rebar, and wire rod prices increased. Chinese billet, meanwhile, recorded a moderate decline.

The following is the steel prices statement in the global markets on 08 August 2026