- New scrap deals surface, finished markets stay quiet
- Dull downstream demand keeps semis’ segment stagnant
In the 26th week of 2025, the global billet market showed a mixed trend, with regional supply-demand imbalances and geopolitical uncertainties influencing trade flows. While some markets faced disruptions due to conflict and policy changes, others saw muted demand and cost-driven pressure. Overall, sentiment remained cautious, as buyers and sellers navigated shifting fundamentals and uncertain near-term direction.
According to BigMint, Turkiye’s deep-sea ferrous scrap import prices rose by $3/t w-o-w to $345/t CFR amid restocking activity. While the market showed signs of recovery, buying activity was cautious, with mills selectively booking cargoes to replenish inventories rather than engaging in aggressive purchasing.
Market highlights
Asian billet market remained largely subdued amid limited export activity and soft regional demand. Sellers in markets, like Vietnam, prioritised domestic sales, while geopolitical disruptions in Iran and regulatory curbs in Indonesia impacted supply. With weak scrap buying and lukewarm finished steel demand, the region’s overall market tone stayed restrained.
Vietnam billet export offers stable: No fresh export offers emerged from Vietnam as sellers remained on the sidelines, focusing on domestic requirements amid regional supply constraints. Muted scrap buying and a lacklustre market tone continued to weigh on billet trade dynamics.
In the Philippines market, billet offers for 150×150 mm 5sp material held steady w-o-w at $440/t CFR Manila as of 27 June. Market sentiment remained sluggish, extending the muted tone seen in the previous week.
Iran’s billet market muted amid war concerns: The market remains clouded by uncertainty due to the ongoing conflict. Production has taken a major hit, with bombings targeting key economic and industrial zones, triggering instability across the country. This has led to heightened caution among market participants.
BigMint’s Russian Billet Index, FOB Black Sea, inched up by $7/t w-o-w primarily by some limited fresh trades to Turkiye and Kazakhstan heard as per reports. However, the monthly export volumes have registered a significant drop, questioning the sustainability of this uptick in nearing weeks.
Chinese billet prices drop by RMB 20/t ($3/t) w-o-w: Steel billet prices in Tangshan, China, dipped by RMB 20/t ($3/t) w-o-w to RMB 2,910/t ($405/t), including 13% VAT, on 27 June 2025. Billet prices showed weakness, primarily driven by prevailing stagnant market condition and lower demand in the finished segment. Meanwhile, SHFE rebar futures (October 2025 delivery) held largely stable w-o-w at RMB 2,995/t ($418/t) on 27 June 2025.
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