- CIS billet suppliers face freight and logistics constraints
- Turkiye rebar prices rise on tighter regional availability
Global billet markets remained firm to mixed during the week, with elevated raw-material and production costs supporting seller offers despite subdued demand. Asian export prices edged higher, while CIS suppliers faced mounting freight and logistical constraints. In the Middle East, tighter billet availability supported rebar prices, while Egypt moved ahead with plans to expand domestic billet production.
Domestic steel demand remained active, particularly for rebar. A West Black Sea-based mill sold rebar at $612-615/t, up from around $590-595/t previously, while limited availability in Marmara pushed domestic prices to around $630-635/t exw.
Export rebar offers stood at around $610-620/t FOB, widening the rebar-scrap spread to approximately $225-230/t, based on $390-395/t CFR scrap. US-origin HMS 80:20 rose $10/t w-o-w to $392/t CFR Turkiye, supported by uncertainty over Black Sea metallics supply.
Asian billet market
Export billet prices remained firm amid elevated raw-material costs, although limited demand kept trading subdued. Suppliers largely maintained or raised offers modestly, while buyers remained cautious.
Chinese mills raised 3SP billet offers for November shipment to $470-475/t FOB from $465-466/t, supported by firm coking coal and other input costs. Indonesian major steel mills also increased base-grade billet offers by $3/t to $480-482/t FOB for December shipment, with some volumes reportedly sold at this level.
Chinese domestic billet prices fell to RMB 3,000/t ($446/t) on 11 September from RMB 3,040/t a week earlier, while SHFE October rebar futures declined to RMB 3,046/t ($453/t) from RMB 3,097/t. Domestic rebar trading remained moderate at 90,000-100,000 t/day.
Chinese 3SP billet offers to Taiwan remained at $490-495/t CFR, while Russian billet was reportedly booked at around $490/t CFR, up from $485/t last week. Southeast Asian 5SP offers started at around $500-505/t CFR, against bids near $485-490/t.
Trading remained muted as high production costs and low margins encouraged suppliers to hold firm. Around 30,000 t of Chinese billet was reportedly booked at $530/t CFR Djibouti, while shipping restrictions continued to affect bookings to Oman, the UAE, and Saudi Arabia.
CIS & Black Sea billet market
Russian billet suppliers continued to seek alternative export routes as Black Sea shipments remained effectively blocked. Pressure on alternative ports increased, with Baltic and Caspian facilities prioritising grain and higher-margin cargoes.
The Russian square billet was assessed at $470-475/t FOB Black Sea, compared with $465-468/t a week earlier.
Freight rates remained volatile. Baltic-Mediterranean freight was reported around $60/t, while Murmansk-Marmara freight was assessed at about $50-52/t. Shipments from Astrakhan to Iran also became less competitive as grain flows pushed up freight costs.
As per a Baltic-origin supplier source, around 300,000 t of billet from India, China, and Malaysia are currently in transit to Turkiye, which could limit mills’ scrap buying in the coming weeks.
The strengthening rouble added further pressure on exporters, while higher freight and production costs made price reductions difficult despite weak demand.
Middle East billet market
The Middle East billet market remained mixed this week, with tighter availability and higher logistics costs supporting prices, while subdued end-user demand limited further gains.
In Saudi Arabia, leading mills kept September rebar prices at SAR 2,650-2,700/t ($689-702/t) DAP. Second-tier mills raised offers by SAR 50-100/t ($13-26/t) to SAR 2,550-2,600/t ($663-676/t), while smaller mills increased prices by more than SAR 150/t ($39/t) to SAR 2,450-2,500/t ($637-650/t). Hadeed maintained its price at SAR 2,800-2,850/t ($728-741/t) DAP.
In Egypt, the latest billet licensing round attracted 10 applications for a combined 2-2.2 mnt/y capacity, aimed at increasing domestic billet supply and reducing import dependence. However, steelmakers and re-rollers remain divided over the need for additional capacity. Billet imports continue to face a 13% safeguard duty on CIF value, with a minimum of $70-72/t, until 13 September 2026. Re-rollers are seeking temporary relief until the new capacities become operational.
In the UAE, ECAS-certified Asian billet was reported at $530-535/t CFR, with some contracts including Strait of Hormuz rerouting clauses. UAE imports of Chinese billet exceeded 400,000 t in January-July 2026, making the country the second-largest GCC destination after Saudi Arabia. Competitive Chinese prices and tight regional billet availability supported the increase. The UAE also issued seven ECAS certificates to Chinese billet producers in 2026, compared with two in 2025.
Iranian billet had previously been offered at $415-420/t FOB, making it one of the lower-priced supply options in the region. However, no fresh Iranian offers emerged this week, limiting its immediate influence on regional billet pricing and reducing the visibility of low-cost supply.
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