Square billet prices remained largely stable across regional markets in May, with a slight downward correction of $10/t due to weak export demand. Some markets saw a brief price increase of $5/t mid-month, but values returned to early May levels by the end of the period.
In the Black Sea market, billet prices fluctuated between $433-437/t FOB, making imports attractive for Turkish buyers as domestic production remains significantly more expensive. Kardemir plant sells billets at $500-510/t, while Chinese billet offers stand at $460-465/t CFR Turkey.
Tangshan billet prices in China showed relative stability, ranging from $405-407/t throughout May, with a brief increase to $411/t mid-month. Local producers are prioritizing finished rolled products over billet sales, a trend that may persist into June.
Saudi Arabian billet prices declined from $523/t in late April to $501/t by the end of May, as the market prepares for reduced trading activity during Eid al-Adha. Italy recorded the highest billet prices at $557/t Ex-Works, impacted by high electricity costs.
Turkey’s average bid price for billet fell by $33/t to $497/t EXW in April, as producers sought to enhance competitiveness. Future projections suggest a price dip in 2025, followed by gradual increases in 2026 and 2027.
