Steel Prices in the third Week of May 2026

Global market data showed slight movements in raw material prices during the third week of May, while some finished products recorded notable increases, particularly in Asian markets, according to data obtained by the Arab Iron and Steel Union.

In the raw materials market, the price of HS1&2 scrap (80:20 mix) exported to Turkey (CFR ex-USA) declined to $413 per ton, down by $2 compared to the previous week. Similarly, Australian iron ore (62% Fe, CFR) fell to $108 per ton, marking a week-on-week decrease of $1.

In the billet market, Russian billet prices (FOB) remained stable at $480–485 per ton with no weekly change. In contrast, Chinese billet prices (FOB) increased to $485–490 per ton, up by $1. Meanwhile, billet prices in Turkey (CFR ex-CIS) rose to $505–510 per ton, recording a $5 increase.

In the long products segment, Turkish rebar prices (FOB) declined to $585–605 per ton, down by $5. Rebar prices from CIS countries (FOB) remained stable at $535–545 per ton. Turkish wire rod prices (FOB) also held steady at $610–620 per ton with no week-on-week change.

As for flat products, Russian hot-rolled coil (HRC) prices (FOB) recorded a notable increase, reaching $525–535 per ton, up by $8. Chinese cold-rolled coil (CRC, 1 mm thickness) prices (FOB) also rose to $580–590 per ton, reflecting a $10 increase—the highest rise recorded during the week.

The following is the

steel prices

statement in the global markets on 16 May 2026