Most major iron and steel products in global markets recorded price increases during the second week of September 2026, according to price data obtained by the Arab Iron and Steel Union.
HMS 1&2 (80:20) scrap in Turkey, of U.S. origin, was priced at $390 per tonne CFR, up $10 per tonne from the previous week.
Russian billet prices increased to $465–475 per tonne FOB, up $5 per tonne, while Chinese billet was quoted at $470–475 per tonne FOB, an increase of $3 per tonne. Turkish billet, originating from CIS countries, rose to $515–525 per tonne CFR, up $5 per tonne.
In finished steel products, Turkish rebar prices increased to $610–630 per tonne FOB, representing a weekly increase of $18 per tonne, the largest increase among the products covered in the report. Turkish wire rod prices also rose to $610–630 per tonne FOB, up $8 per tonne.
In flat steel products, Russian hot-rolled coil (HRC) prices remained unchanged at $500–510 per tonne FOB compared with the previous week. Meanwhile, Chinese cold-rolled coil (CRC), 1 mm thick, increased to $550–560 per tonne FOB, up $5 per tonne.
In contrast, 62% Fe iron ore CFR Australia prices declined to $99 per tonne, down $1 per tonne from the previous week.
Overall, price movements during the week indicate a clear upward trend across most long steel and semi-finished product markets, supported by higher scrap and billet prices, while the flat steel market remained more mixed.
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 $5 per ton week-on-week.
The price movements during the week reflect the continuation of an upward trend across most raw material, long steel, and flat steel markets. The largest weekly increase was recorded in Turkish billet prices, while Russian hot-rolled flat steel coils remained stable.
The following is the steel prices statement in the global markets on 12 September 2026
| Product | Place | Min$ | Max$ | Date | w-o-w | w-o-w |
| Scrap HMS 1&2 (80:20) | ex-USA, CFR Turkey | 390 | 390 | 12/09/2026 |  |
5 |
| Iron ore Fe 62% | CFR Australia | 99 | 99 | 12/09/2026 |  |
-1 |
| Billet | FOB Russia | 465 | 475 | 12/09/2026 | |
5 |
| FOB China | 470 | 475 | 12/09/2026 | |
3 | |
| ex-CIS, CFR Turkey | 515 | 525 | 12/09/2026 | |
5 | |
| Rebar | FOB Turkey | 610 | 630 | 12/09/2026 | |
18 |
| Wire Rod | FOB Turkey | 610 | 630 | 12/09/2026 | |
8 |
| HR coil | FOB Russia | 500 | 510 | 12/09/2026 | – | 0 |
| CR coil, 1 mm | FOB China | 550 | 560 | 12/09/2026 | |
5 |
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