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Following a relatively stable May, global steel and raw material markets entered June with diverging regional trends. While easing iron ore and scrap prices provided some cost relief for steel producers, regional demand remained uneven and geopolitical developments continued to influence logistics and trade flows.
Throughout the month, buyers maintained a cautious procurement approach, balancing lower raw material costs against ongoing uncertainty in freight markets and international trade policies.
Global HRC Prices: Export Strategies and Regional Differences
Hot Rolled Coil (HRC) FOB China export prices softened slightly during June, averaging within the 494–496 USD per metric ton range.
The modest decline reflected continued competition among Chinese mills seeking to maintain export market share despite cautious overseas demand. Chinese producers continued to focus on export markets while adapting to cautious domestic demand conditions.
Rebar Market: Regional Price Dynamics
Rebar FOB China prices averaged within the 499–501 USD per metric ton range during June. Competitive export offers continued to support overseas sales, although weaker demand across several key markets limited upward price movement.
Rebar FOB Turkey traded around 584–586 USD per metric ton throughout the month. Turkish steel manufacturers continued to benefit from their strategic location and diversified export destinations across the Mediterranean, Europe, and the Middle East, while carefully managing production costs and international competition.
Steel Scrap Market: Cost Pressures Ease
Ferrous scrap prices moved lower during June as more balanced supply conditions and cautious purchasing activity reduced upward pressure on raw material costs.
In the Turkish import market, premium HMS 80:20 CFR Turkey contracts averaged within the 397–399 USD per metric ton range. The softer scrap market provided some cost relief for Electric Arc Furnace (EAF) producers, particularly in the long steel segment. Nevertheless, freight market uncertainty and evolving geopolitical developments continued to influence procurement decisions across international steel supply chains.
Iron Ore Prices: Softer Demand Weighs on the Market
The Iron Ore CFR North China (62% Fe) benchmark weakened during June, averaging within the 100–101 USD per dry metric ton range, as cautious purchasing activity and comfortable inventory levels weighed on market sentiment.
Higher-grade 65% Fe CFR North China material traded around 116–117 USD per dry metric ton, confirming that quality premiums remained relatively well supported despite the broader decline in iron ore prices.
July 2026 Steel Market Outlook
Regional demand conditions, freight costs, evolving trade policies, and geopolitical developments are expected to remain the primary factors shaping global steel prices heading into July.
Lower raw material costs may continue to provide some cost-side support for steel producers, while export competition is likely to remain intense across key international markets. Consequently, maintaining procurement flexibility, optimizing inventories, and strengthening supply chain resilience will remain critical for market participants navigating an increasingly competitive global trading environment.
Strategic Procurement Remains Key in Steel Trading
June 2026 market data shows that global steel prices continue to be shaped by more than supply and demand alone. Freight costs, trade policy shifts, geopolitical developments, and raw material trends all play a decisive role in market direction.
The diverging trends observed across HRC, rebar, steel scrap and iron ore prices highlight the need for a flexible and well-informed approach to steel procurement. In the coming period, a reliable sourcing network, disciplined inventory management, and the ability to interpret market signals accurately will remain critical for sustainable success in global steel trading.
Source: Based on publicly available international market indices, global shipping logistics data, and heavy industry trade reporting.