Weekly-round up: Global billet trades limited, prices range-bound w-o-w

• Global scrap sees fresh bookings, downstream lull
• Southeast Asia market stays largely inactive w-o-w

In the 25th week of 2025, the global billets market showed a blend of caution and subdued activity. Southeast Asia and Vietnam remained largely inactive, with sellers prioritising domestic demand and buyers staying on the sidelines. Iran faced supply disruptions amid regional tensions, adding to market unease. However, slight recovery in China’s downstream demand and limited scrap trades in Türkiye provided modest support, keeping billet prices steady overall, while rebar slipped slightly.

According to BigMint, limited fresh scrap trades toward the end of the week lifted sentiment slightly, with Türkiye’s imported deep-sea ferrous scrap (HMS 80:20) prices inching up by $4/t w-o-w to $342/t CFR. However, overall market sentiment remained cautious, keeping billet prices largely stable and pushing rebar slightly lower amid weak finished steel demand.

Market highlights

• SE Asia’s imported billet market shows mixed sentiment: The market remained largely cautious amid weak demand, limited export activity, and regional supply disruptions. Sellers held back on offers due to material shortages and geopolitical concerns, while buyers maintained a wait-and-see approach. Overall sentiment stayed subdued, though slight improvements in raw material costs and finished steel prices offered a faint lift in confidence by the end of the week.
• Vietnam billet export offers stable: In Vietnam, no new export offers were heard as sellers remained cautious amid regional material shortages, prioritizing domestic demand. Weak scrap buying interest and subdued sentiment further weighed on the billet market.
• In the Philippines market, billet offers for 150×150 mm 5sp material remained steady at $440/t CFR Manila as of 20 June, with more offers heard in the range of $435-440/t. Market sentiment remained weak, continuing the subdued trend from the previous week.
• Iran billet market hit amid war concerns: BigMint’s assessment for FOB Iran prices remained stable at $430/t w-o-w. However, production is affected leading to market instability due to regional war escalations, and heightened cautiousness among participants.
• Chinese billet prices rise RMB 30/t ($4/t) w-o-w: Steel billet prices in Tangshan, China, rose by RMB 30/t ($4/t) w-o-w to RMB 2,930/t ($408/t), including 13% VAT, on 20 June 2025. Billet prices recorded a hike due to rise in downstream product prices, and supportive domestic raw material tags. Meanwhile, SHFE rebar futures (October 2025 delivery) inched up w-o-w by RMB 23/t ($3/t) to RMB 2,992/t ($416/t) on 20 June 2025.