Steel prices in the fourth week of July 2026

Global steel and raw material prices recorded mixed movements during the fourth week of July 2026, according to data obtained by the Arab Iron and Steel Union (AISU). Scrap prices increased significantly, while iron ore prices declined. Meanwhile, prices of most other steel products remained stable, with Chinese cold-rolled coil prices registering a notable decrease.

Prices of HMS 1&2 (80:20) scrap, supplied from the United States to Turkey, reached US$376 per tonne (CFR), representing an increase of US$7 per tonne compared to the previous week. In contrast, the price of 62% Fe Australian iron ore declined to US$99 per tonne (CFR), down US$2 per tonne week-on-week. These movements reflect the continued divergence in global supply and demand fundamentals.

In the billet market, Russian billet prices remained unchanged at US$465–472 per tonne (FOB), while Chinese billet prices also held steady at US$460–465 per tonne (FOB). Meanwhile, CIS-origin billet delivered to Turkey (CFR) increased to US$480–490 per tonne, marking a US$3 per tonne rise from the previous week.

Turkish rebar prices increased to US$570–585 per tonne (FOB), up US$3 per tonne, while CIS rebar prices remained stable at US$550–560 per tonne (FOB).

In the flat and long steel products segment, Turkish wire rod prices remained stable at US$575–585 per tonne (FOB), while Russian hot-rolled coil (HRC) prices also held steady at US$510–520 per tonne (FOB). However, Chinese cold-rolled coil (CRC, 1 mm) prices declined to US$530–550 per tonne (FOB), recording a US$15 per tonne decrease compared to the previous week.

These market developments reflect the continued cautious sentiment in global steel markets, with mixed price trends across raw materials and finished steel products as market participants closely monitor developments in global demand.

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