Weekly Insights into the International Steel Market (March 11-19, 2026)

International Construction Steel Prices Remain Steady with slight increases; Trading remains generally sluggish (March 11-19, 2026)

【Key Summary】

In the international market, logistics disruptions caused by geopolitical tension in the Middle East have led to delayed shipments, resulting in only sporadic inquiries. In Central Asia and Mongolia, demand has yet to pick up due to winter conditions, and transactions remains sluggish. Southeast Asia is currently in the holiday season, with downstream demand generally subdued; however, steel mills’ quotes remain firm due to cost support. Turkish exports are fluctuating within a narrow range amid a tug-of-war between costs and demand, with transactions progressing slowly.

Domestic port prices are generally stable, with most ports recently adjusting the premium for rebar specifications., resulting in inconsistent execution standards for new and existing orders. Due to the lack of substantial overseas demand, export orders remain scarce. Overall, insufficient demand release is the primary challenge facing the current market, with most parties adopting a wait-and-see attitude as they await market recovery.、

【International Price Update】

International Price Update

Product

City

Price

Change

Rebar

Southeast Asia imports CFR

478

-

EU imports

607

5

Turkey exports FOB

563

5

China exports FOB

473

3

數據來源：我的鋼鐵網

【International Hot Topics】

1. A research institute in Australia has successfully conducted a technical demonstration trial of a technology that partially replaces coal used in steelmaking with agricultural waste. The project was jointly carried out by the Commonwealth Scientific and Industrial Research Organisation (CSIRO) and the Indian Institute of Science (IISc). The research team conducted tests using a 5–10% mixture of rice husk pellets in a gasification unit and confirmed stable gas production. If this technology were widely adopted in U.S. steel mills, emissions from the steel industry could be reduced by approximately 50%, potentially leading to an annual reduction of about 357 million tons of carbon dioxide.

2. On March 12, German engineering firm SMS Group announced that it had received an order from Indonesian steel manufacturer PT Bahagia Steel for a deformed rebar production line, scheduled for completion by the end of 2026. The new line will be a dual-strand high-speed deformed rebar (HSDR) production line, establishing a highly efficient, large-scale production system to enhance competitiveness while meeting the growing demand of the domestic infrastructure and construction markets.

3. According to the “Economic and Steel Market Outlook 2026-2027 / Q1 2026 Report” released by the Economic Committee of the European Steel Association (EUROFER), apparent steel consumption in the EU-27 reached 32 million metric tons in the third quarter of 2025, representing a year-on-year increase of 4.6%, following a 1.7% decline in the second quarter of 2025. Although previous forecasts indicated that the industrial outlook for 2025 would decline again, the sector showed signs of moderate improvement in the second half of the year. At the same time, apparent steel consumption in 2025 is projected to grow by 2.4%, whereas the previous forecast had predicted a slight decline of 0.2%.

4. Indonesia’s Krakatau Steel (KRAS) has set a comprehensive revenue target of $1.6 billion in its 2026 Corporate Budget and Work Plan (RKAP). This strategy marks a critical phase in KRAS’s transformation from a company barely surviving to a resilient steel enterprise on the global stage. This momentum represents a pivotal turning point for the company. Through the “KRAS Rebirth” initiative, the company has officially abandoned its previous defensive mindset, shifting instead to a foundation of collaboration and world-class quality standards.

5. Tokyo Steel Manufacturing Co., Ltd. announced on March 16 that it would raise prices for all products under April contracts by 5,000–7,000 pounds. This marks the first price increase for all steel products in 47 months, dating back to contracts from May 2022. The price hike is primarily driven by further increases in cost pressures related to raw materials. The company stated that, given the continued uncertainty in the outlook, the increase is still insufficient to fully cover rising costs.

【International Trade Barriers】

1. On March 9, Turkey’s Ministry of Trade released the final report of its anti-dumping investigation into cold-rolled galvanized steel from China and South Korea. The ministry confirmed dumping by both countries and plans to impose anti-dumping duties, which are expected to take effect upon publication in the Official Gazette. The anti-dumping duty rates (calculated on a CIF basis) are as follows: For China: Anshan Iron & Steel at 24.85%, Baoshan Iron & Steel at 32.09%, Benxi Iron & Steel Group and Shougang Group at 30.76%, and other producers at 36.0%; for South Korea: POSCO at 10.48%, Hyundai Steel at 12.90%, and other companies with rates ranging from 10.48% to 14.24%.

2. The U.S. Department of Commerce (US DOC) has released the preliminary review results of the anti-dumping duty order on thick-walled rectangular tubes and pipe fittings (CLWRPT) from Mexico, covering the review period from September 1, 2023, to August 31, 2024. The weighted average dumping profit margin for Monterrey Mineros, S.A. de C.V. was 7.42%, for Forja de Acero, S.A. de C.V. it was 31.23%, and for other Mexican companies it was 16.81%. The U.S. Department of Commerce also terminated the review for 12 companies that had no verifiable entries for the subject merchandise during the review period.

3. The Office of the United States Trade Representative (USTR) has launched an investigation into alleged overcapacity in Malaysia’s steel, electronics, and machinery sectors. This review is part of a broader investigation under Section 301 of the Trade Act of 1974 into manufacturing overcapacity and overproduction in specific economies. The USTR has sought public comments on whether tariff and non-tariff measures should be imposed, with a deadline of April 15. This investigation also covers various manufacturing sectors in China, the European Union, Singapore, Switzerland, Norway, Indonesia, Cambodia, Thailand, South Korea, Vietnam, the United Nations Volunteers (UNV), Bangladesh, Mexico, Japan, and India.

4. In a statement issued on March 11, Pakistan’s National Tariff Commission announced that, following an anti-circumvention investigation, Pakistan had expanded the scope of anti-dumping duties imposed on cold-rolled steel coils and sheets imported from China, alleging that Chinese exporters had circumvented the anti-dumping duties by modifying their products. The commission also noted that a sunset review of the anti-dumping duties was initiated on January 10, 2026, and is currently ongoing. The current duties, which have been in effect for five years, are set to expire on January 12, 2026, but will remain in force until the results of the sunset review are released. The results are expected to be announced by January 10, 2027.

【Market Sentiment Outlook】

【International Steel Market Update】

Ⅰ.International Markets:

1.Middle East Market:

Dubai: According to Mysteel, market quotes remained stable this week, with ASAS rebar quoted at 2,620–2,660 dirhams per ton. ESI quotes remained at high levels, with rebar prices ranging from 2,730 to 2,760 dirhams per ton; there is a severe shortage of 10mm rebar. Currently, there are only sporadic inquiries from buyers, and no actual transactions have been concluded.

A local market participant reported that the ongoing geopolitical tension has not yet ended. Over 200 vessels remain backed up at Jebel Ali Port, and the arrival of 50,000 metric tons of steel billets shipped from Chinese ports has been delayed. Although 3–6 vessels pass through the Strait of Hormuz daily, most are from the UAE and Iran. From the perspective of downstream end-users, major construction projects have not completely halted but are proceeding at a slow pace. Asas Steel has begun supplying directly to construction sites, though prices remain relatively high.

2. Central Asian:

Kazakhstan: Local rebar spot prices in Almaty range from 300,000 to 320,000 KGS/t. Prices have recently increased, and steel mills are also considering adjustments to the premium for differents specifications. Currently, the market has ample supplies of Chinese-standard products, while Russian-standard products are relatively tight.

Uzbekistan: As of March 18, the spot price for rebar in Tashkent was around 8.2 million UZS/t. Traders’ selling prices were relatively high, including some miscellaneous freight charges. As downstream demand has yet to pick up, market trading activity remains sluggish.

Kyrgyzstan: Spot prices for rebar stand at 57,000 KGS/t. While inquiries are frequent, actual transactions remain scarce.

Mongolia: Market prices have risen significantly recently, with rebar at 2.12 million MNT and wire rod at 4.2 million MNT per bundle. Current transaction volumes are low, as construction sites are in the preparatory phase.

3. Southeast Asian Market:

Laos: As of March 18, spot rebar prices in Vientiane remained stable at 12,550 LAK/kg. Prices for different rebar specifications have been adjusted: specifications 20, 36, and 40 remain unchanged; specifications 12–14 have a 20-LAK premium; and all other specifications have a 60-LAK premium. Market acceptance remains cautious for now, with prices continuing to follow minor adjustments in Yunnan’s market conditions.

Indonesian: According to Mysteel research, as of March 18, rebar S10-32 was quoted at 9,050 Rp/kg, remaining stable this week. The region is currently observing the Idul Fitri holiday, with local market participants on leave for approximately 10 days. Consequently, downstream demand remains subdued; however, due to firm costs, mill prices are currently stable.

Malaysian: According to Mysteel, prices for Y16-20 rebar in the Malaysian market are around 2,280-2310 . Customers report that this price reflects current market levels, with expectations of an upward adjustment in the short term.

Singapore Market: Prices in Singapore remained stable this week, with rebar quoted at 500 USD/t (CFR).

4. European Market:

Turkish: As of March 18, the mainstream export price for Turkish rebar was around 562.5 USD/t FOB, remaining largely unchanged from the previous day. Market quotes are mostly concentrated in the $565–580/ton FOB range, while actual transaction prices remain at $562.5–563/ton FOB. Meanwhile, driven by price hikes in the domestic market, Turkish domestic rebar ex-works prices have increased slightly, with current mainstream quotes at $555–580/ton EXW.

Due to persistently sluggish global demand, the overall trading volume in Turkey’s rebar export market remains thin. Buyers have limited acceptance of current prices, making it difficult to sustain upward price momentum in the short term. Although mills intend to raise export quotes, market feedback indicates that buyers remain cautious, and transactions are progressing slowly. Meanwhile, tight supply in the scrap market provides some support on the cost side. While there is purchasing demand in the market, available resources are limited, leading to an unclear price reference range. Amid the tug-of-war between cost support and weak demand, Turkish rebar export prices are likely to continue fluctuating within a narrow range in the short term.

Ⅱ. Domestic Port and Border Market

Jingtang Port: National Standard rebar is quoted at $460–465/ton. With significant increases in ocean freight rates, the market is currently dominated by inquiries, and no transactions have been reported recently.

Zhangjiagang Port: As of March 18, Yonggang rebar FOB prices stood at $485/ton, remaining stable. Shipping capacity remains tight, with quotes valid for only 24 hours, which continues to impact shipments.

Qingdao Port: British Standard rebar arrival quotes remain stable at around $490/ton. Recent inquiries have been scarce. Domestic Chinese-standard prices are relatively stable, and export quotes have also held steady. Currently, export inquiries are still primarily focused on East Africa, with few actual orders.

Fangchenggang Port: Currently, Liugang rebar FOB quotes stand at $495, unchanged this week. High-priced inventory is not moving, but steel mills’ guidance prices remain firm, keeping port quotes persistently high.

Alashankou Port: The current ex-port pickup price is 3,100–3,130 yuan per ton. On March 16, the steel mill adjusted its price tiers, and the ex-port pickup price was adjusted accordingly. Following the specification adjustments, winter stockpile inventory will continue to be sold at a premium based on the original prices.

Irkeshan Port: The quoted price for rebar delivered to the port is 3,250 yuan/ton. Due to recent adjustments to rebar specifications, existing locked-price orders will follow the old standards, while new orders will follow the new standards. There have been many inquiries, but few actual transactions.

Khorgos Port: This week’s port prices range from 3,100 to 3,120 yuan per ton, with a slight upward adjustment. Currently, export orders are scarce, the winter market has not officially begun, and it is also winter overseas.

Turgart Port: The current port price is 3,230 yuan per ton for customer pickup. Recently, the steel mill adjusted their product specification, resulting in a corresponding price increase. Currently, Russian-standard products are in short supply, while Chinese-standard products are relatively abundant.

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