Steel Prices in the Second Week of May 2026

Global iron and steel markets witnessed mixed price movements during the second week of May, as prices of raw materials and semi-finished products increased, while finished products showed mixed performance, according to data obtained by the Arab Iron and Steel Union.

In the raw materials market, prices of imported HS1&2 scrap (80:20 mix) into Turkey (ex-USA, CFR) rose to $415 per ton, recording a weekly increase of $5. Iron ore prices (62% Fe, Australia CFR) also increased to $109 per ton, marking a weekly gain of $2.

At the semi-finished products level, billet prices recorded noticeable increases. Russian billet (FOB) ranged between $480 and $485 per ton, up $3 week-on-week. Chinese billet (FOB) rose to $485–488 per ton, posting a weekly increase of $10. Meanwhile, imported billet into Turkey from CIS countries (CFR) increased to a range of $500–535 per ton, up $3 compared to the previous week.

In the finished products segment, Turkish rebar prices (FOB) declined to a range of $590–610 per ton, recording a weekly decrease of $5. In contrast, rebar prices from CIS countries (FOB – CIS) remained stable at $535–545 per ton, with no significant change.

As for wire rod in Turkey (FOB), prices remained stable at $610–620 per ton, with no weekly change.

In the flat steel sector, Russian hot-rolled coil (FOB) prices held steady at $520–525 per ton. Meanwhile, Chinese cold-rolled coil (1 mm, FOB) increased to $570–580 per ton, marking a weekly rise of $10.

The following is the

steel prices

statement in the global markets on 09 May 2026