Square billet prices lost up to $10 per ton in May

Prices for square billets on most regional markets in May were quite stable, with a slight downward correction to $10/t, which is associated with weak export demand. In the middle of the month, some markets saw price growth of $5/t, but by the end of the period prices returned to the level of early May.

In the Black Sea market of square billets (Black Sea FOB) prices are mostly stable. Quotes for the product in May fluctuated in the range of $433-437/t.

This range looks interesting for Turkish buyers, as the products of domestic producers are significantly more expensive. For example, Kardemir plant sells billets at $500-510/t. Chinese billet offers are $460-465/t at Turkey CFR.

Billet prices in Tangshan (China) show relative stability. Quotes in early and late May fluctuated in the range of $405-407/t, although in the middle of the period there was a slight increase to $411/t. Against the background of such low prices, local producers are trying to produce finished rolled products, refusing to sell billets. Such situation may continue in June.

Prices for square billet in Saudi Arabia in May decreased from $523/t at the end of April to $501/t at the end of May. The market is now preparing for a period of weak trading activity due to the approaching Eid al-Adha, which will last from June 6 to 10.

The highest price of square billet is observed on the Italian market (on Italy Ex-Works terms), where May price fell by $4/t to $557/t. The cost of steel production in Italy is negatively affected by high electricity prices.

In April, the average bid price for billet in Turkey decreased by $33/t to $497/t EXW. Thus, producers tried to increase the attractiveness of their products.

As previously reported, according to NBU estimates, in 2025 average prices for steel billets may decrease by 5.2% to $478/t FOB Ukraine. Further, in 2026, prices are expected to rise by 2.9% to $492/t, and in 2027 – by 2.1% to $502.5/t FOB Ukraine.