Weekly Steel Market Report – Week 19, 2026
Iron Ore
Last week in China’s iron ore import market, the price of 61% grade iron ore increased from 108 dollars to just under 112 dollars per tonne CFR.
Scrap
In Turkey’s scrap import market last week, HMS 20-80 scrap prices remained stable at 412 dollars per tonne CFR.
Japan’s H2 grade export scrap also remained unchanged at 54,400 yen per tonne FOB. In East Asia, imported scrap was heard at 401 dollars per tonne CFR, down 5 dollars compared to the previous week.
Billet
Last week, the average export price for billet from the Black Sea region remained at 482 dollars per tonne FOB. In China’s domestic market, billet prices increased by 8 dollars to 452 dollars per tonne ex-works.
In Turkey’s import market, billet prices fell by 8 dollars to 502 dollars per tonne CFR. In Southeast Asia, imported billet was reported at 505 dollars per tonne CFR, up 6 dollars.
Billet – Iran Market
Billet prices remained stable due to the weak rebar and long products market. Price fluctuations were mainly driven by exchange rate movements and credit-based sales.
Long Products
Last week, Turkey’s rebar export price was 590 dollars per tonne FOB, down 5 dollars from the previous week. In Turkey’s domestic market, rebar stood at 605 dollars per tonne ex-works, down 3 dollars. China’s rebar export price increased from 499 to 502 dollars per tonne FOB.
In Europe’s domestic market, rebar remained stable at 645 euros per tonne ex-works. In the United States, domestic rebar stayed unchanged at 920 dollars per short ton.
Long Products – Iran Market
Rebar
Rebar prices were mainly influenced by exchange rate movements. Mid-week, the upward trend stopped as the exchange rate declined.
Beam
A drop in demand pushed beam prices lower.
Flat Products
Last week, the average Platts index for China’s HRC export price was around 514 dollars per tonne FOB, up 10 dollars week on week. Black Sea HRC export prices were at 522 dollars per tonne FOB, down 3 dollars. Turkey’s HRC export price remained unchanged at 625 dollars per tonne FOB.
In Southeast Asia, imported HRC prices in Vietnam were stable at 619 dollars per tonne CFR.
In Europe’s domestic market, the latest HRC index was 695 euros per tonne ex-works, down 5 euros. In the United States, domestic HRC prices were reported at 1,070 dollars per short ton, up 15 dollars.
Flat Products – Iran Market
Hot Rolled Coil
The price of 2 mm hot rolled coil from Mobarakeh Steel was 1,320,000 rials on Saturday and increased to 1,380,000 rials by Wednesday. The market is influenced by supply and demand, exchange rate trends, and Mobarakeh Steel policies. Most participants believe the upward trend is now limited.
Oxin Plate
Exchange rate fluctuations and limited supply led to a relative increase in Oxin plate prices.
Cold Rolled Coil
Supply is very limited, which pushed cold rolled coil prices upward. Exchange rate increases early in the week also contributed.
Galvanized Sheet
Galvanized sheet prices have reached peak levels. The main influencing factors are the exchange rate and the availability of hot rolled coil.
(Weekly Steel Market Report (Analysis
Global Market
The global market remained calm last week, with stable prices. The May Day holiday affected the Chinese market, and as a result the Far East market was also quiet. Iron ore and other commodities remained stable. However, expectations for a rapid market recovery are low. The closure of the Strait of Hormuz has contributed to stagnation, while global uncertainty has weakened investment sentiment. This trend may damage the global economy, and recovery could take years due to the time required for the redistribution of capital and labor worldwide.
Brent crude oil fell from under 104 dollars per barrel the previous week to 100.49 dollars.
Iron ore increased from 108.05 dollars to about 112 dollars per tonne CFR China.
Scrap remained stable at 412 dollars per tonne CFR Turkey.
Black Sea billet decreased by 2 dollars to 480 dollars per tonne FOB.
Black Sea slab increased by 18 dollars to 510 dollars per tonne FOB.
Black Sea HRC was reported at 522 dollars per tonne FOB, down 3 dollars.
Rebar FOB Turkey declined by 5 dollars to 590 dollars per tonne.
Domestic Market – Iran
Uncertainty caused by the Persian Gulf conflict has created confusion among investors. Flat products are facing supply shortages. Imported material has not yet appeared in the market, although imports typically increase the exchange rate. Demand is extremely limited because some consuming units are shut down, and higher prices have made production uneconomical for many manufacturers. Liquidity shortages remain the biggest challenge for downstream industries.
In the long products market, prices have reached their floor. Warehouse inventories are high and consumption is low. Mills are trying to manage supply to prevent further declines, but liquidity shortages remain the key issue. The difference between credit and cash transaction prices in both the market and the commodity exchange reflects this. Rising housing prices have reduced demand, which naturally affects the long products market. This situation is expected to continue until the outcome of the Persian Gulf conflict becomes clearer.
Source: Foolad Iran