- Chinese billet tags fall on weak sentiment
- Power shortages lift Iranian billet prices
In the 31st week of 2025, global billet prices showed mixed trends, as buying activity stayed subdued across most Asian markets. Meanwhile, Egypt showed strong interest in Chinese billets, with notable bookings reported.
Russian billet offers climbed up, while CIS prices were steady w-o-w. Iran’s export market faced pressure despite some deals concluded.
As per BigMint’s assessment, the deep-sea scrap market in Turkiye was steady as the market remained quiet after August needs were met. US-origin HMS 80:20 held at $346/t CFR. Activity was muted due to a seasonal slowdown and European holidays. No firm deals were heard. The rebar-to-scrap spread stayed tight at $190-195/t, with rebar offers at $535-540/t.
Trade is expected to improve in August as mills return with fresh inquiries. A weaker euro posed downside risks, though higher freight costs offered support by limiting further price cuts.
Market highlights
SE Asia, Indian markets remain quiet
SE Asia offers for 150×150, 3SP billets rose to $460-470/t CFR Philippines as of 1 August, but buying interest remained slow with bids at $450-455/t CFR.
As per market insiders, there is currently no significant import or export activity for billets from India.
Iran’s billet export market faces pressure despite select deals
Iran’s billet export market remained under pressure due to regulatory uncertainty and political instability. Most mills were on the sidelines, avoiding firm offers. A recent 60,000-t deal at $430/t FOB for October shipment was viewed as above market. Workable levels were at $410-415/t FOB, though some offers persisted at $425-430/t, with buyers maintaining the upper hand.
As of 30 July, Iran’s billet prices rose by 5,000 rial/kg to 314,500 rial/kg, while rebar prices also increased by 5,000 rial/kg to 380,000 rial/kg. The slight uptick in billet prices could be attributed to supply woes. Production continued to be hampered by power shortages, even at green electricity units.
As per market insiders, billet export offers hovered at $425-430/t FOB, slab at $405-410/t FOB, and rebar at $415-420/t exw.
Russian billet offers rise
BigMint assessed Russian billets at $450/t FOB Black Sea, rising by $15/t w-o-w. CIS-origin offers were held at $465/t CFR Turkiye.
Chinese billet prices drop by RMB 100/t w-o-w
Steel billet prices in Tangshan declined by RMB 100/t ($14/t) w-o-w to RMB 3,060/t ($425/t, including VAT) as of 1 August. After starting the week with a steep drop on 28 July, prices recovered slightly mid-week but failed to sustain gains amid weak market sentiment. The overall decline was driven by falling raw material costs, the absence of fresh economic stimulus, and caution over potential US tariffs.
While brief support came from positive trade signals and government interventions, market activity remained largely limited to need-based buying.
Egypt eyes Chinese billets amid active bookings
Despite weak rebar demand, Egyptian buyers are actively booking Chinese billets, with deals reported at $500-510/t CFR for September shipment, while a trader offered up to 100,000 t. Russian billets were offered at $495/t CFR Egypt, though buyers pushed for $490/t.
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