Steel prices in the second week of July 2026

Global iron and steel prices showed mixed trends in the second week of July 2026, according to data obtained by the Arab Iron and Steel Union (AISU). Australian iron ore prices increased, while several steel products and raw materials continued to decline.

The price of imported HMS 1&2 (80:20) scrap in Turkey recorded a slight decrease of USD 2 per tonne, reaching USD 371 per tonne CFR.

On the other hand, the price of Australian 62% iron ore increased by USD 2 to reach USD 100 per tonne CFR, supported by a relative improvement in demand and easing market pressures witnessed in recent weeks. Data also indicate that iron ore continues to trade near the USD 100 per tonne level in global markets.

In the semi-finished products market, Russian billet prices declined to USD 465–472 per tonne FOB, down by USD 4 per tonne, while Chinese billet prices decreased to USD 455–465 per tonne FOB, a decline of USD 3 per tonne. Likewise, imported billet prices in Turkey from CIS countries fell to USD 480–485 per tonne CFR, down by USD 5 per tonne.

In the finished steel products segment, Turkish rebar prices remained stable at USD 570–580 per tonne FOB, unchanged compared to the previous week. Rebar prices from CIS countries also maintained their levels at USD 550–560 per tonne FOB.

Turkish wire rod prices declined to USD 580–590 per tonne FOB, down by USD 3 per tonne. Meanwhile, Russian hot rolled coil (HRC) prices recorded the largest decline in the week, falling to USD 510–520 per tonne FOB, a decrease of USD 18 per tonne.

In contrast, Chinese cold rolled coil (CRC) prices (1 mm) remained stable at USD 550–560 per tonne FOB, unchanged from the previous week.

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