Global square billet prices fell by up to $10 per ton in May 2025, reflecting weak export demand and cautious market sentiment. The Black Sea FOB market remained stable, with prices ranging between $433 and $437 per ton, attracting interest from Turkish buyers facing higher domestic costs.

In Tangshan, China, billet prices fluctuated between $405 and $407 per ton throughout May, despite a mid-month increase to $411 per ton. Saudi Arabia saw a sharper decline, with prices dropping from $523 per ton at the end of April to $501 per ton by the end of May.

Italy recorded the highest billet prices, though they fell by $4 per ton to $557 per ton due to high electricity costs impacting steel production. Meanwhile, Turkey experienced a significant decrease in bid prices, dropping by $33 per ton to $497 per ton EXW as producers sought to boost product appeal.

Market analysts expect further adjustments in billet pricing as global steel demand continues to shift.