Steel prices in the first week of October 2026

Most prices of major steel products and raw materials remained stable in global markets during the first week of October 2026, with limited movements in some products.

Prices of Turkish HMS 1&2 (80:20) scrap, CFR Turkey from the USA, stood at around $403 per tonne, unchanged from the previous week.

Meanwhile, 62% Fe iron ore, CFR Australia, declined by $1 per tonne week-on-week to $97 per tonne.

Russian billet FOB prices remained stable at $470–480 per tonne, while Chinese billet FOB prices increased by $1 per tonne to $465–470 per tonne. Turkish billet from CIS countries, CFR, also remained unchanged at $515–525 per tonne.

For finished steel products, Turkish rebar FOB prices remained at $620–630 per tonne, while wire rod prices stood at $650–660 per tonne, both unchanged week-on-week.

Meanwhile, Russian hot-rolled coil (HRC), FOB, remained stable at $505–510 per tonne, while Chinese cold-rolled coil (CRC), 1 mm, FOB, held at $660–670 per tonne.

Overall, weekly price movements indicate relative stability across global steel and raw material markets, with a limited decline in iron ore and a slight increase in Chinese billet prices, while most other products maintained their previous levels.

The following is the steel prices statement in the global markets on 03 October 2026