Steel prices in the third week of September 2026

Global markets for raw materials and steel products recorded noticeable price increases in several products during the third week of September 2026, with continued gains in scrap, billet and rebar prices, alongside increases in flat steel products, while iron ore prices remained stable at their previous levels.

HMS 1&2 (80:20) scrap in the Turkish market, US-origin, CFR, increased by $8 per ton week-on-week, reaching $398 per ton.

In the iron ore market, the price of 62% Fe Australian iron ore, CFR, remained stable at around $99 per ton, unchanged from the previous week.

Billet prices continued to increase in several markets. Russian billet, FOB, rose by $5 per ton to $470–480 per ton. Turkish billet imported from CIS countries, CFR, also increased by $10 per ton, reaching $525–535 per ton, while Chinese billet, FOB, declined by approximately $5 per ton to $465–470 per ton.

In long steel products, Turkish rebar prices, FOB, increased by $20 per ton to $630–650 per ton. Meanwhile, Turkish wire rod, FOB, recorded the largest weekly increase among the products listed, rising by $45 per ton to $660–670 per ton.

Flat steel products also recorded price increases. Russian hot-rolled coil (HRC), FOB, rose by $3 per ton to $505–510 per ton, while Chinese 1 mm cold-rolled coil (CRC), FOB, increased by $10 per ton to $660–670 per ton.

Overall, price movements during the week indicate a broad upward trend across most steel product markets, particularly scrap, billet, rebar and wire rod. Iron ore prices remained stable, while flat steel products continued to record moderate price increases.

The following is the steel prices statement in the global markets on 19 September 2026