Steel prices in third week of July 2026

Global steel and raw material prices showed mixed trends during the third week of July 2026, according to data obtained by the Arab Iron and Steel Union. Scrap prices continued their slight decline, while iron ore and Chinese billet prices increased, whereas most other steel product prices remained stable.

Imported HMS 1&2 (80:20) scrap prices in Turkey decreased by USD 2 per tonne to reach USD 369 per tonne CFR compared to the previous week, amid continued weak demand from Turkish steel mills and slower purchasing activity. Meanwhile, Australian iron ore fines (62% Fe) increased by USD 1 per tonne to USD 101 per tonne CFR, supported by improved expectations for Chinese demand and continued stability in global supply.

In the billet market, Russian billet prices remained unchanged at USD 465–472 per tonne FOB compared to the previous week, while Chinese billet prices increased by USD 3 per tonne to reach USD 460–465 per tonne FOB. Prices of imported billet into Turkey from CIS countries also remained stable at USD 480–485 per tonne CFR.

Turkish rebar prices remained unchanged at USD 570–580 per tonne FOB, while rebar prices from the Commonwealth of Independent States (CIS) also held steady at USD 550–560 per tonne FOB. In contrast, Turkish wire rod prices declined by USD 5 per tonne to USD 575–585 per tonne FOB due to continued weak demand in some export markets.

In the flat steel sector, Russian hot-rolled coil (HRC) prices remained stable at USD 510–520 per tonne FOB, while Chinese cold-rolled coil (CRC, 1 mm thickness) prices maintained their levels at USD 550–560 per tonne FOB.

Market indicators suggest that global steel markets continue to adopt a cautious stance as participants monitor developments in Chinese demand and the global economic outlook during the second half of the year.

The following is the steel prices statement in the global markets on 27 June 2026