The global billet market remained under pressure on 24 June, with weak demand across key importing regions continuing to weigh on prices. Russian suppliers reduced their billet offers to $485-490/t FOB Black Sea, down from $490-495/t FOB a week earlier, reflecting subdued buying interest. In Türkiye, buyers maintained cautious purchasing strategies, with workable price ideas reported at $498-500/t CFR Black Sea, equivalent to approximately $475-480/t FOB, indicating a noticeable gap between seller expectations and buyer targets.
In Asia, market sentiment remained soft. Indonesian producer Dexin lowered its billet export price by $3/t to $480/t FOB, highlighting ongoing competitive pressure among regional suppliers. Chinese billet export offers remained stable at $465-468/t FOB; however, transaction activity was limited. Seasonal demand weakness in Southeast Asia and a lack of purchasing interest from Middle Eastern buyers continued to constrain export sales. Market participants noted that Chinese suppliers still struggled to gain a clear competitive advantage in overseas markets, resulting in only moderate trading activity.
Meanwhile, billet prices in Southeast Asia showed stability. Philippine-origin 120mm billets were unchanged at $495/t CFR, supported by balanced regional supply conditions despite muted end-user demand.
Overall, the billet market remains characterized by cautious buying sentiment, limited trading activity, and persistent downward pressure on export prices. Unless demand recovers in Southeast Asia and the Middle East, market participants expect prices to remain under pressure in the near term.
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