Steel Prices in the Third Week of January 2026

Global iron and steel markets witnessed relative price stability during the third week of January 2026, with some price movements recorded for certain products, according to data obtained by the Arab Iron and Steel Union.

In terms of scrap and iron ore, prices for HS1&2 scrap (80:20) delivered to Turkey remained steady at $376 per ton CFR, recording a week-on-week increase of $5, reflecting continued Turkish demand for imported scrap. Meanwhile, 62% iron ore from Australia, delivered CFR, stabilized at $108 per ton, with a slight weekly decline of $1.

As for billet, prices continued to post modest gains across most markets. In Russia (FOB), billet prices ranged between $435 and $445 per ton, up $5 week on week. Chinese billet FOB was priced between $445 and $450 per ton, marking a $2 increase, while billet supplied to Turkey from CIS countries reached $460–$465 per ton CFR, up $3 on a weekly basis.

Regarding finished products, Turkish rebar (FOB) prices rose to $560–$570 per ton, recording a notable weekly increase of $8, while rebar prices from CIS countries (FOB) remained stable within the range of $495–$510 per ton. Turkish wire rod (FOB) prices also increased, ranging between $565 and $580 per ton, up $3 week on week.

In the flat steel segment, prices for Russian hot-rolled coils (FOB) surged to $445–$450 per ton, achieving a sharp weekly increase of $18, while Chinese cold-rolled coils (1 mm, FOB) remained unchanged at $530–$540 per ton compared to the previous week.

The following is the steel prices statement in the global markets on 10 January 2026

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