Weekly steel price tracker: 2nd week of January – 2025
Weekly steel price tracker: 2nd week of January – 2025
As shown in the table below, prices have remained unchanged overall compared to last week. However, in some markets, such as China, there has been a notable reduction in the price of iron ore, approximately $4.5 per ton. Additionally, other commodities in the Chinese market have decreased by an average of 3%. Some industry experts predict a slight increase in iron ore prices in China shortly, followed by a decline to around $90.
Commodity | Country | Terms | Ave. Price | Weekly Changes |
Iron ore 62% | China | CFR | 98.9$ | -4.8% |
Steel Billet | China | EXW | 420$ | -1.4% |
Steel Rebar | China | FOB | 467$ | -0.7% |
Wire rod | China | FOB | 467$ | -4.4% |
HRC | China | FOB | 464$ | -2.8% |
Steel Billet | Iran | FOB | 415$ | -1.2% |
Steel Rebar | Iran | FOB | 445$ | -1.1% |
Wire rod | Iran | FOB | 495$ | -0.6% |
Steel Billet | Turkey | CFR | 461$ | +0.2% |
Steel Rebar | Turkey | FOB | 562$ | +0.2% |
Wire rod | Turkey | FOB | 566$ | -0.7% |
In Turkey, prices have remained stable. However, the continuous rise in scrap prices remains a serious concern. Factories that use alternative raw materials, such as steel billets, are likely to have more favorable opportunities under these conditions.
Similarly, in the Iranian market, prices have generally remained unchanged, with only a minor decrease of about 1%. Given the current pricing trends, Iranian sellers are emerging as strong competitors to Chinese suppliers in the Southwest Asian region.