Global Steel Market Prices, Trends & Outlook September 2026

Global steel prices remain highly regionalized in September 2026. The U.S. market continues to carry a substantial premium over Europe and Asia, supported by tight availability, trade restrictions and strong mill pricing. European steel prices have strengthened after the summer slowdown as supply tightens and energy costs increase, while Turkey has experienced a renewed rise in scrap, rebar and flat-steel prices. China remains the most competitive major steel-producing market, although higher raw-material costs are limiting further price reductions.

HRC & Plate Prices
The U.S. hot-rolled coil market remains one of the strongest globally. Domestic HRC pricing reached approximately $1,185–1,225 per short ton EXW during early and mid-September, supported by constrained spot availability and firm mill order books. Steel Market Update reported an average near $1,225/short ton in early September, while mill pricing had already moved above $1,180/short ton.
In Europe, Northern European HRC transactions have generally been reported around €730–750/MT EXW, compared with substantially lower levels earlier in 2026. Tight availability, higher energy costs, EU import restrictions and CBAM-related considerations are contributing to the increase. Northern European HRC reached approximately €750/MT in September, while Italian prices were generally in the low-to-mid €730s/MT EXW.
Turkish HRC prices have also moved higher during September as imported scrap prices strengthen and mills increase both local and export offers. Indicative Turkish export levels are now around the upper-$500s to approximately $600/MT FOB, depending on the mill, volume and shipment period.
China remains the lowest-cost major source for commercial HRC. Chinese HRC export transactions were concentrated around $490–495/MT FOB in mid-September, although higher coke and raw-material costs are limiting producers' ability to reduce prices significantly.
Steel Plate Prices
U.S. carbon steel plate pricing remains elevated relative to international markets, with an indicative domestic average around $1,395 per short ton in early September. U.S. supply remains relatively tight, particularly for certain widths, grades and project requirements.
European heavy plate prices have strengthened significantly. Southern European plate is approximately €740–760/MT EXW, while Northern European plate has reached approximately €850–875/MT EXW, reflecting strong project order books, limited availability and higher slab costs.
Asian plate remains considerably more competitive. Chinese producers continue to offer commercial-grade plate at substantially lower levels than U.S. and European mills, while Baosteel announced additional increases for October production, indicating that Chinese mills are attempting to recover higher raw-material and production costs.

Structural Steel Beams & Merchant Bars
The U.S. structural steel market remains comparatively stable at high levels. Common wide-flange W-beam mill list prices are approximately $1,700 per short ton, with heavier W-sections, channels and specialty profiles carrying additional premiums. Common MC channels have been quoted near $1,975/short ton, while heavier structural sections can exceed $2,000/short ton.
European beam and merchant-bar producers are attempting further price increases as energy, freight and semi-finished steel costs rise. Italian market participants reported increases across both beam and merchant-bar segments during September, although construction demand remains uneven.
Turkey is also experiencing upward pressure on merchant bars as imported scrap and billet prices rise. Turkish producers increased merchant-bar prices repeatedly during the first half of September.
China remains considerably cheaper for structural sections. Indicative September prices for standard Q235B/A36-equivalent H-beams are approximately $495–565/MT EXW, depending on section size and producing mill.

Rebar Prices
European rebar prices have strengthened after the summer holiday period. Italian transaction levels are generally around €670–700/MT EXW including normal size extras, with mills targeting additional increases as production and energy costs rise.
Turkish rebar experienced one of the strongest September increases. Domestic mill prices reached roughly $620–650/MT EXW, while the Turkish export benchmark was approximately $605/MT FOB by September 15. Higher scrap prices, reduced availability and firm billet costs have been the main drivers.
Chinese rebar remains considerably cheaper. Mid-September Chinese domestic HRB400E rebar averaged around $470/MT on a national statistical basis, while selected domestic mill and regional prices ranged roughly from $500–535/MT depending on diameter and location. Chinese Grade 60 export rebar was assessed near $484/MT FOB Tianjin.

Steel Pipe & Tube Prices
Pipe and tube pricing remains highly dependent on product type, diameter, manufacturing method and end-use specification.
The strongest market is currently the U.S. energy sector. North American OCTG prices increased sharply to approximately $2,838/MT in early September, compared with an August average near $2,590/MT FOB. Seamless P110 casing availability is particularly tight, with lead times extending into the fourth quarter.
Chinese carbon steel seamless pipe remains significantly more competitive. Standard commercial seamless pipe prices are generally around $540–610/MT domestically, while export quotations for ASTM A106, ASTM A53, API 5L and EN 10216 material typically range from approximately $580–800/MT FOB, depending heavily on diameter, wall thickness, grade and testing requirements.
Turkish construction-grade welded pipe prices weakened during the summer but began receiving renewed cost support in September as both HRC and scrap prices increased.

Ferrous Scrap Prices
Ferrous scrap remains an important driver of EAF-produced rebar, merchant bar, beams and pipe prices.
In the United States, Midwest HMS, shredded and related obsolete scrap grades are generally around $335–350 per gross ton, with the September market broadly stable compared with August.
The key international benchmark, HMS 1/2 80:20 CFR Turkey, moved to approximately $395/MT in mid-September as Turkish mills competed for cargoes amid rising finished-steel prices.
European ferrous scrap prices vary significantly by country and grade. German collection-market prices for common steel scrap have recently ranged from approximately €120–180/MT, while higher-quality mill grades command materially higher values. The Italian market remained generally stable during the September restart.
In China, #1 HMS was approximately RMB 1,630/MT as of September 15, with prices stable on the day.
September 2026 Steel Market Outlook
The near-term global steel outlook remains mixed. U.S. steel prices are expected to remain supported by restricted supply, tariffs and elevated domestic production costs. European mills are attempting to consolidate September increases as import availability becomes more restricted, although weak underlying manufacturing demand may limit further gains.
Turkey is entering a firmer pricing cycle as scrap and billet costs rise, particularly for rebar and merchant bars. China remains the world's most price-competitive major market for HRC, beams, rebar and many pipe products, but mill losses and higher coke costs are creating a stronger floor under export pricing.
For international buyers, the unusually wide gap between U.S., European and Asian steel prices continues to create sourcing opportunities, but freight costs, import duties, quotas, tariffs, CBAM requirements and country-of-origin restrictions must be considered when calculating the actual landed cost of imported steel.

Market update: September 16, 2026
SG Steel distributes, provides international sourcing and procurement support for steel plates, structural steel, beams, pipes, tubes, rebar and specialty steel products manufactured to ASTM, ASME, API and EN specifications.