Billet prices are on the decline

Russia's billet offers to Türkiye stand at $460-470/t CFR Türkiye ($438-448/t FOB Novorossiysk), with bids trailing at around $450/t CFR. 

Malaysian billet offers are significantly higher at $500-505/t CFR Türkiye, while bids hover around $490-495/t CFR. The narrow bid-ask spread suggests negotiations are ongoing, but buyers remain cautious amid uncertain market conditions.

Chinese billet (3sp) offers to Indonesia have risen slightly to $470-475/t CFR Indonesia, but demand remains tepid. Market sentiment suggests buyers are hesitant to accept higher prices, given the current weak demand in the region.

Iranian billet (5sp) offers are at $475/t CFR Thailand, but they have failed to attract interest. Thai buyers are unwilling to purchase above $460/t CFR, as domestic billet prices remain more favorable, making imported billet less competitive.

Indonesian billet (3sp) is being offered at $460/t FOB, showing consistency in pricing, though demand details remain unclear.

The market remains under pressure due to volatile competitiveness in different regional demand and pricing strategies. Russian suppliers appear well positioned with low offers, but global billet demand needs to strengthen for significant price movements. The Middle East and Southeast Asian markets will remain key indicators of future billet price trends.