Weekly Steel Market Report – Week 20, 2026
Iron Ore
Last week in China’s iron ore import market, the price of 61 percent grade iron ore did not change significantly and was reported at about 111 dollars per ton CFR.
Scrap
In Turkey’s scrap import market last week, heavy melting scrap 20-80 increased by 1 dollar and reached 413 dollars per ton CFR.
Japanese H2 export scrap reached 54000 yen per ton FOB, down by 400 yen. In East Asia, imported scrap was heard at 399 dollars per ton CFR, down by 2 dollars.
Billet
Last week the average export billet price in the Black Sea increased by 8 dollars and was heard at 490 dollars per ton FOB. In China’s domestic market, billet saw a slight increase and reached 453 dollars per ton ex works.
In Turkey’s import market, billet prices increased by 3 dollars and reached 505 dollars per ton CFR. In Southeast Asia, imported billet was also 505 dollars per ton CFR and remained stable.
Billet in the Iranian Market
Billet
Billet prices did not see any significant change. The recession in the long products market kept prices stable.
Long Products
Last week Turkish rebar export prices were heard at 590 dollars per ton FOB and remained unchanged. In the domestic market the price was 605 dollars per ton ex works and also remained unchanged. Chinese rebar export prices improved from 502 dollars to 509 dollars per ton FOB.
Meanwhile in the European domestic market rebar was 645 euros per ton ex works and remained unchanged. In the US domestic market rebar stayed at 920 dollars per short ton.
Long Products in the Iranian Market
Rebar
Rebar prices did not change. Warehouse inventories and weak demand kept the market calm.
Beam
Weak demand kept the beam market quiet.
Flat Products
Last week the average Platts index for Chinese hot rolled coil exports was around 515 dollars per ton FOB with no significant change. Black Sea hot rolled coil exports were 525 dollars per ton FOB, up 3 dollars. Turkish hot rolled coil exports were heard at 625 dollars per ton FOB and remained unchanged. In Southeast Asia, imported hot rolled coil to Vietnam remained unchanged at 619 dollars per ton CFR.
In the European domestic market the latest hot rolled coil index was 695 euros per ton ex works and remained unchanged. In the US domestic market the price was heard at 1070 dollars per short ton and also remained unchanged.
Flat Products in the Iranian Market
Hot Rolled Coil
The price of 2 mm coil from Mobarakeh was 1385000 rials on Saturday and reached 1415000 rials by Wednesday. Prices have reached their highest level while demand has fallen to its lowest level.
Oxin
The market does not have the ability to absorb higher prices. Therefore Oxin plate prices remained stable.
Cold Rolled
Cold rolled coil prices did not change. Demand is weak but inventories are limited.
Galvanized
Weak demand did not allow any change in galvanized sheet prices.
(Weekly Steel Market Report (Analysis
Global Market
The global market did not experience any significant change compared to the previous week. The impact of rising oil prices on steel production costs has largely been offset by weak market conditions. However, its effects in the coming months are difficult to ignore because higher freight and production costs are expected to appear from next month.
Brent crude increased by 9 dollars and was traded at 109 dollars.
Iron ore remained unchanged compared to last week at 111 dollars CFR Chinese ports.
Scrap remained stable and traded at 413 dollars CFR Turkey.
Billet improved slightly and rose from 480 dollars FOB Black Sea to 490 dollars.
Slab remained unchanged at 510 dollars FOB Black Sea.
Rebar remained unchanged and traded at 509 dollars FOB Chinese ports and 590 dollars FOB Turkey.
Hot rolled coil remained unchanged at 514 dollars FOB Chinese ports and 525 dollars FOB Black Sea.
Domestic Market
In the flat steel market, rumors about possible regulatory inspections caused the recession to deepen further. Iranian engineers are attempting to fill the gap left by Mobarakeh by substituting 200 by 200 billets instead of slab in some production processes. Meanwhile producers such as Haft Almas are partially covering the demand for cold rolled sheet. The absence of Mobarakeh in the market has created opportunities for smaller mills.
At the same time, due to wartime conditions, demand has declined significantly. There have been discussions about possible imports of sheet from Turkey and Russia, but no significant transactions have been observed. The main factor that could disrupt the market remains the exchange rate.
In the long products sector, credit sales together with traders’ inventories are preventing price increases. Until real demand returns to the market this situation is likely to continue, while rebar producers attempt to maintain market stability.
Under current conditions the exchange rate remains the only factor that could significantly move the market. The government has attempted to control currency fluctuations by supplying one thousand dollars through banks.
Overall the year is expected to remain characterized by stagflation unless significant policy changes take place.
Source: Foolad Iran