The global billet market remained broadly stable on 25 June, with prices showing little movement across key regions despite ongoing shifts in trade flows. Import billet prices in the Philippines were unchanged at $495/t CFR, while Russian export billet offers held steady at $480/t FOB. In Türkiye, import billet prices also remained stable at around $500/t CFR.
In the Middle East, Iranian billet continued to enter the Jordanian market via overland shipments through Iraq. Iranian billet was offered at $420-425/t DAP at the Iran-Iraq border, with transportation costs of approximately $75/t required to deliver material to end-users in Jordan. Market participants noted that Iranian billet prices have increased by around $20/t in recent weeks, mainly supported by strengthening global billet demand. Higher logistics expenses have also contributed to the rise in the overall landed cost of imported billet.
Meanwhile, China's export billet market remained largely unchanged. Mills continued to maintain firm offer levels above $470/t FOB due to persistent cost pressures, while tradable market prices were reported at around $465-467/t FOB. The gap between mill expectations and buyer bids remained wide, limiting trading activity as exporters showed little willingness to reduce prices.
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