Monthly review of Russian billet market in July

In July, the price of billets from Russian suppliers in the Black Sea region decreased by $6 per ton to $488 per ton FOB. Türkiye remained a key export destination for these suppliers. At the start of the month, Russian billet prices held steady at $490 per ton FOB ($510 per ton CFR), but demand dropped to $500-505 per ton CFR. This decline was attributed to a weakened long rolled products market, driven by a 10% increase in electricity tariffs since early July.

Throughout the month, the Turkish market saw an influx of products from Asia. During the first ten days, Türkiye imported approximately 150 thousand tons of steel billets from China. Offers from Russian suppliers were nearly absent, and the indicative price fell to $485-495 per ton FOB ($500-505 per ton CFR).

By the end of the month, Chinese billet prices in Türkiye continued to fall due to mounting pressure from sellers. Türkiye purchased around 500 thousand tons of billets from Asia during this period. Meanwhile, Russian and Donbass exporters concluded small-tonnage deals (5 thousand tons) at $500-505 per ton CFR ($480 per ton FOB). In the final week of July, Russian billet prices dropped by $5 per ton, reaching $475-480 per ton FOB Black Sea.