The Asian billet market remained under downward pressure, driven primarily by weakening demand in China and Southeast Asia. In China’s Tangshan region, the price of 150 mm billet declined by CNY 20/t day-on-day to CNY 3,000/t including VAT, equivalent to approximately $440/t EXW. The decline was attributed to cautious market sentiment and the absence of meaningful buying activity.
In Southeast Asia, imported 120 mm billet prices in the Philippines also moved lower, falling by $3/t to $495/t CFR. The price adjustment highlighted the subdued demand environment across the region, where buyers continued to resist higher offers amid uncertain market conditions.
In contrast, Russian billet export prices remained unchanged at $482/t FOB, while Türkiye's imported billet market was assessed stable at $505/t CFR. The persistent price gap between Chinese and Turkish billet markets continued to indicate weaker demand fundamentals in East Asia compared to other regions.
Another notable indicator was Iranian 130-150 mm export billet, assessed at $410/t FOB Southern Iranian ports in the latest weekly evaluation. The significant discount compared to Russian billet at $482/t FOB and imported billet prices in Türkiye at $505/t CFR underscored Iran’s strong competitive position in export markets. Market sources reported that Iranian suppliers have recently secured orders by offering substantial price advantages, particularly in the Middle East.
Chinese billet export offers declined by $3-4/t during the day to around $470/t FOB. Demand from overseas buyers weakened further, leading to lower order volumes and limited trading activity. Market participants indicated that the negotiable margin in concluded deals was approximately $5/t. In addition to Iran's aggressive pricing strategy, billet export offers from several neighboring countries remained below Chinese levels, prompting overseas buyers to adopt a wait-and-see approach and limiting export transactions. As a result, Chinese exporters continued to face increasing competitive pressure in regional markets.
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