Global steel, raw material prices climb up in May'26; Chinese HRC export offers hit 19-month high

Higher freights amid Middle East conflict continue to lift prices. Indian imported coking coal hits 3-month peak on supply crunch. Chinese iron ore prices inch up as hot metal output remains high

Global steel and raw material prices increased by 2-4% m-o-m across most commodities in May 2026 amid supply constraints and elevated freights. Only export offers for EU-bound Indian hot-rolled coils (HRCs) and prices of Turkish rebars fell by 1% m-o-m. Notably, Chinese HRC export offers hit a 19-month high, increasing for