Most steel products and raw materials recorded a notable increase in prices in global markets during the first week of September 2026, according to data obtained by the Arab Iron and Steel Union.
HMS 1&2 scrap (80:20 mix) in Turkey, CFR from the United States, was priced at around $380 per ton, up $5 per ton compared with the previous week.
The price of 62% Fe iron ore, CFR Australia, also increased to $100 per ton, up $1 per ton week-on-week.
In the billet market, Russian billet FOB prices increased to a range of $460–470 per ton, up $3 per ton, while Chinese billet FOB prices rose to $465–475 per ton, an increase of $8 per ton.
Turkish billet from the Commonwealth of Independent States (CIS), on a CFR basis, recorded a stronger increase, reaching $510–520 per ton, up $13 per ton from the previous week.
Among finished products, Turkish rebar FOB prices rose to $595–610 per ton, an increase of $5 per ton. Meanwhile, Turkish wire rod FOB prices increased to $600–625 per ton, also rising by $5 per ton.
In contrast, Russian hot-rolled flat steel coils FOB prices remained stable at $500–510 per ton, with no weekly change.
In the Chinese market, the price of 1 mm cold-rolled flat steel coils FOB increased to $545–555 per ton, up $5 per ton week-on-week.
The price movements during the week reflect the continuation of an upward trend across most raw material, long steel, and flat steel markets. The largest weekly increase was recorded in Turkish billet prices, while Russian hot-rolled flat steel coils remained stable.
The following is the steel prices statement in the global markets on 29 August 2026
| Product | Place | Min$ | Max$ | Date | w-o-w | w-o-w |
| Scrap HMS 1&2 (80:20) | ex-USA, CFR Turkey | 380 | 380 | 05/09/2026 |  |
5 |
| Iron ore Fe 62% | CFR Australia | 100 | 100 | 05/09/2026 | |
1 |
| Billet | FOB Russia | 460 | 470 | 05/09/2026 | |
3 |
| FOB China | 465 | 475 | 05/09/2026 | |
8 | |
| ex-CIS, CFR Turkey | 510 | 520 | 05/09/2026 | |
13 | |
| Rebar | FOB Turkey | 595 | 610 | 05/09/2026 | |
5 |
| Wire Rod | FOB Turkey | 600 | 625 | 05/09/2026 | |
5 |
| HR coil | FOB Russia | 500 | 510 | 05/09/2026 | – | 0 |
| CR coil, 1 mm | FOB China | 545 | 555 | 05/09/2026 | |
5 |
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