Steel prices in the third week of October 2026

Global steel and raw material markets witnessed mixed price movements on Saturday, October 17, 2026, with declines in scrap, iron ore, rebar and wire rod prices, while billet prices increased in the Turkish market, according to global steel market data.

Prices for HMS 1&2 (80:20 mix) steel scrap imported into Türkiye from the United States fell by $5 per ton week-on-week, reaching $395 per ton CFR. Meanwhile, 62% Fe iron ore from Australia declined by $1 per ton to $93 per ton.

Russian billet prices remained stable at $470–480 per ton FOB, while Chinese billet prices stood at $463–465 per ton, down $1 per ton week-on-week. In contrast, billet prices in Türkiye for material imported from the Commonwealth of Independent States (CIS) rose by $15 per ton, reaching $525–545 per ton CFR.

In the rebar market, Turkish prices declined by $3 per ton to $610–625 per ton FOB, while rebar prices in the CIS remained stable at $560–570 per ton FOB.

Turkish wire rod prices also fell by $10 per ton week-on-week, reaching $620–630 per ton FOB.

In the flat steel segment, Russian hot-rolled coil prices remained stable at $505–510 per ton FOB. Similarly, Chinese cold-rolled coil prices for 1 mm thickness remained unchanged at $555–561 per ton FOB.

The following is the steel prices statement in the global markets on 17 October 2026