Steel prices in the third week of November 2025

The global steel market recorded mixed price movements during the third week of November 2025, with slight increases in some raw materials, stability in several finished products, and notable declines in others. These fluctuations come amid ongoing shifts in supply and demand across different regions.

Prices of Turkish scrap (CFR) saw a slight increase of $1, reaching $356 per ton, supported by steady demand from Turkish mills. Iron ore (62% CFR Australia) continued its upward trend, rising by $2 to reach $104 per ton.

On the other hand, the billet market witnessed clear declines. Russian billet FOB dropped by $8, reaching $430–435 per ton, while Turkish/Caspian billet ex-CIS CFR decreased by the same amount to $445–455 per ton, driven by higher supply in regional markets.

Among finished products, Turkish rebar FOB recorded a $5 increase, reaching $545–565 per ton, supported by stronger demand from Middle Eastern markets. Meanwhile, CIS rebar FOB remained stable with no change, staying within $490–510 per ton. Turkish wire rod FOB also saw a slight rise of $3, reaching $560–570 per ton.

In the flat steel segment, Russian hot-rolled coil FOB maintained stability at $450–455 per ton, while Chinese cold-rolled coil FOB (1 mm) declined by $8, reaching $515–525 per ton, affected by increased production and supply in Asian markets.

The following is the steel prices statement in the global markets on 15 November 2025

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