Grain-oriented silicon steel prices are expected to trend weakly through August as ample supply from mills running at high output weighs on the spot market. India's anti-dumping investigation against Chinese exports is diverting cargo back to the domestic market, adding further downward pressure, while high-grade grades are expected to hold relatively better than conventional grades.
Non-oriented electrical steel prices are forecast to drift lower in August amid persistent off-season demand weakness from home appliance and automotive sectors. Mills are cutting output of lower-grade products but overall spot supply remains sufficient, while hot rolled coil cost support is also weakening month-on-month.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Steel | China | FOB | USD 485.00/MT | June 2026 |
| Steel | India | FOB | USD 721.00/MT | June 2026 |
| Steel | USA | FOB | USD 1,570.00/MT | June 2026 |
| Steel | Germany | FOB | USD 687.00/MT | June 2026 |
| Steel | Australia | CIF | USD 551.08/MT | June 2026 |
| Steel | China | FOB | USD 504.21/MT | May 2026 |
| Steel | India | FOB | USD 740.43/MT | May 2026 |
| Steel | USA | FOB | USD 1,617.60/MT | May 2026 |
| Steel | Germany | FOB | USD 703.74/MT | May 2026 |
| Steel | Australia | CIF | USD 555.04/MT | May 2026 |
Stay updated with the latest Steel prices, historical data, and tailored regional analysis
Asia
In the second quarter of 2026, the monthly average steel price in China was ~RMB 3.36/kg in April and ~RMB 3.43/kg in the subsequent month, showing an increase of ~1.9%. Price movement stayed under pressure due to persistent export availability from mills and weak domestic construction-linked consumption. Property sector slowdown reduced restocking appetite, while overseas buyers absorbed limited volumes amid competitive Asian export flows. Meanwhile, the monthly average steel price in India was ~INR 71.79/kg in April and ~INR 70.31/kg in the subsequent month, showing a decrease of ~2.1%. Domestic mills maintained higher realizations supported by controlled imports and steady downstream consumption from construction and capital goods segments.
Europe
In the second quarter of 2026, the monthly average steel price in Germany was ~EUR 0.63/kg in April and ~EUR 0.62/kg in the subsequent month, showing a decrease of ~1.8%. Weak end-use demand in automotive and construction limited upside, but supply-side constraints prevented sharp declines.
North America
In the second quarter of 2026, the monthly average steel price in North America was ~USD 1,572.00/MT in April and ~USD 1,617.60/MT in the subsequent month, showing an increase of ~2.9%. Production outages and planned maintenance tightened supply, while steady construction and energy sector consumption supported baseline demand.
Analyst Insight
According to Procurement Resource, Steel price movement is expected to remain uneven globally, with policy-led supply controls and trade restrictions continuing to outweigh raw material and demand-side shifts.
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Asia
In Asia, steel prices followed a volatile yet largely stable trend during Q1 2026. Global crude steel production remained high at ~1,849.4 million metric tonnes in 2025, with China holding a dominant share. In January, prices gained support from higher raw material costs linked to tighter nickel ore availability, while demand weakened due to seasonal slowdown. February saw further pressure as construction activity remained limited and inventories rose sharply due to slow consumption. By March, demand improved gradually with construction site resumptions, but high inventory levels and cautious buying limited price recovery. Export disruptions linked to the Iran war affected shipments through the Strait of Hormuz, raising freight costs and delaying deliveries. China’s exports to Persian Gulf nations, accounting for 11.72% of total exports and about 12.35 million tonnes, faced logistical constraints, increasing supply availability domestically and weighing on prices.
Europe
In Europe, steel prices also moved within a narrow and fluctuating range during the quarter. Supply remained steady, supported by consistent production levels, but demand from construction and manufacturing sectors stayed subdued. Elevated freight costs and shipping disruptions linked to Middle East tensions reduced import efficiency and increased landed costs, limiting trade flows. At the same time, weak industrial sentiment and cautious procurement behavior restricted demand growth.
North America
In North America, steel prices showed a similar pattern of controlled volatility with moderate firmness. Production remained stable, while higher input and logistics costs provided underlying support to prices. Demand from construction and manufacturing sectors improved gradually but remained cautious, with buyers focusing on short-term procurement strategies. Supply chain disruptions and rising freight costs linked to global geopolitical tensions added to pricing pressure but did not translate into strong upward momentum due to restrained demand.
Steel is an alloy of iron and carbon and chromium. It is used as a significant component in buildings, infrastructure, tools, ships, trains, automobiles, machines, appliances, and weapons because of its high tensile strength and low cost. Iron is known as the base metal for Steel.
Construction, Infrastructure, Structural Engineering Applications, Automobiles, General Industrial Applications
ArcelorMittal S.A, Hindustan Steel Corporation (LTD.), Tata Steel Limited, Nippon Steel Corporation
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Steel can be produced in both blast furnaces as well as by electric furnaces via iron ores. While in the blast furnace steel is produced by converting liquid iron and steel scrap into steel. Electric furnaces uitlises melting scrap steel or direct reduced iron to produce steel.
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