Market Overview
For the Quarter Ending June 2026
Billet Prices in APAC
In China, the Billet Price Index rose by 4.24% quarter-over-quarter, supported by mill offers and construction.
The average Billet price for the quarter was approximately USD 443.00/MT , reflecting stable market conditions.
Billet Spot Price dynamics showed limited upside as domestic output and import inflows capped arbitrage opportunities.
Billet Price Forecast indicates volatility with softening before late-summer strengthening driven by construction recovery.
Billet Production Cost Trend was pressured by coke and scrap, lifting conversion costs for mills.
Billet Demand Outlook remains moderate as construction resumes, but rebar softness limits immediate downstream procurement.
Billet Price Index volatility reflected export re-routing, inventory accumulation at ports, and trader restocking behaviour.
Chinese mills maintained controlled shipments with selective maintenance programs, supporting margins and underpinning price stability.
Why did the price of Billet change in June 2026 in APAC?
Tight seaborne availability and diverted exports reduced import offers, tightening supply into Chinese coastal hubs.
Higher coke and scrap prices elevated production costs, prompting mills to curb spot sales, protecting margins.
Seasonal summer slowdown weakened construction demand while mill run-rates maintained output, leaving balanced price pressure overall.
India
In India, the Billet Price Index fell by 4.16% quarter-over-quarter, driven by weak downstream demand
Billet Spot Price volatility eased in June as inventories stabilized, prompting fewer seller-initiated discounting actions
Billet Prices in Europe
In Russia, the Billet Price Index rose by 7.62% quarter-over-quarter, driven by tighter export availability.
The average Billet price for the quarter was approximately USD 475.33/MT , supported by mill throughput.
Billet Spot Price stayed rangebound in late June while the Price Index showed slight decline.
Billet Price Forecast projects modest volatility as seasonal demand softens and geopolitical freight premiums persist.
Billet Production Cost Trend reflects low domestic energy costs but growing logistics and insurance expenses.
Billet Demand Outlook remains positive from Middle East restocking, offset by weaker East Asian buying.
Billet Price Index gains supported by controlled mill allocations and balanced Black Sea terminal inventories.
Major Russian mills ran without outages, enabling steady exports despite wagon shortages and sanction constraints.
Why did the price of Billet change in June 2026 in Europe?
Balanced mill throughput and steady export enquiries maintained adequate supply, preventing upward pressure on prices.
Regional geopolitical tensions raised freight and insurance premiums, increasing delivered costs and tempering buyer activity.
Domestic construction pickup offset softer offshore demand, producing flat export volumes and neutral price movement.
Billet Prices in North America
Billet Spot Price firmed in April and May before flattening in June, supported by tight domestic EAF production schedules and reduced import arrivals from Brazil and Mexico.
Billet Production Cost Trend escalated due to higher ferrous scrap costs (up ~6% quarter-over-quarter) and increased electricity tariffs in key manufacturing states, compressing mill margins.
Billet Price Forecast suggests modest upward movement in Q3 2026, with potential resistance if imported billet from Russia or Southeast Asia re-enters the U.S. market at competitive levels.
Billet Demand Outlook remains constructive, driven by healthy ordering from re-rollers supplying the construction and infrastructure sectors, though automotive-related billet consumption softened.
Major U.S. mini-mills operated at 74–77% capacity, with several producers opting for maintenance outages to balance supply and prevent inventory overhang.
Port inventories in New Orleans and Houston declined by 8% over the quarter, as few overseas cargoes arrived due to higher freight and insurance premiums, supporting the Billet Price Index.
Why did the price of Billet change in June 2026 in North America?
Prices increased in June 2026 primarily due to a sudden shortage of prompt domestic billet after two EAF mills in the Ohio Valley extended maintenance shutdowns longer than anticipated, reducing available tons by approximately 15,000 ST.
Additionally, import offers from Brazil were delayed by port congestion and adverse weather, tightening spot availability and forcing re-rollers to pay higher premiums for nearby material.
Rising scrap prices (which constitute ~70% of billet production costs) continued to push the Billet Production Cost Trend upward, and mills successfully passed through these increases to the Billet Spot Price during June.
For the Quarter Ending March 2026
Billet Prices in North America
In the USA, the Billet Price Index rose quarter-over-quarter, reflecting firmer scrap costs and steady mill operating rates.
The average Billet market level for the quarter was based on weekly moving averages across Gulf Coast and Midwest regions.
Regional Billet Spot Price gains were supported by tighter prompt availability and improved re-rolling demand from downstream steel sectors.
Near-term Billet Price Forecast indicates mild upside into April as infrastructure-related procurement and restocking activities gradually improve.
Upstream cost inflation, particularly from scrap and energy inputs, continued to pressure the Billet Production Cost Trend, limiting margin flexibility for mills.
The Billet Demand Outlook remained moderate, with construction and automotive steel consumption showing gradual recovery after seasonal slowdowns.
Inventory levels at domestic mills and service centers remained adequate, limiting aggressive spot buying despite firmer sentiment.
Producers prioritized contractual volumes while restricting discretionary spot offers, contributing to a slightly tighter near-term supply balance.
Why did the Billet market change in March 2026 in North America?
Higher scrap prices and energy costs increased production expenses, supporting firmer billet pricing across domestic mills.
Stable mill output combined with steady downstream re-rolling demand maintained balanced but slightly tighter market conditions.
Gradual post-winter recovery in construction and infrastructure activity improved buying sentiment, leading to modest upward pressure in the market.
Billet Prices in APAC
In China, the Billet Price Index rose by 2.0 % quarter-over-quarter, reflecting firmer feedstock and logistics costs.
The average Billet price for the quarter was approximately USD 425.00/MT, per weekly moving averages.
Regional Billet Spot Price gains reflected constrained prompt availability, supporting elevated offers despite neutral fundamentals.
Near-term Billet Price Forecast indicates modest upside into April as post-holiday rebuilding supports re-rolling demand.
Upstream cost inflation pushed the Billet Production Cost Trend, reducing mills' margin flexibility amid volatility.
The Billet Demand Outlook remains subdued as construction and machinery sectors recover slowly after holidays.
Inventory levels at ports limited urgency, keeping the Billet Price Index range-bound despite upward pressure.
Producers prioritized contractual shipments while limiting prompt allocations, tightening near-term supplies and supporting firmer offers.
Why did the price of Billet change in March 2026 in APAC?
Tightened feedstock availability and higher freight insurance premiums raised landed costs, supporting March price firmness.
Steady domestic production and regular import arrivals limited acute shortages, tempering stronger near-term price gains.
Cautious buyer behaviour post-holiday reduced spot trading volumes, creating short-term price volatility but balanced market.
Billet Prices in Europe
In Russia, the Billet Price Index rose by 1.53 % quarter-over-quarter, supported by steady mill rates.
The average Billet price for the quarter was approximately USD 441.67/MT, FOB Black Sea ports.
Billet Spot Price remained firm as geopolitical shipping risks and balanced supply supported upward momentum.
Regional Billet Price Forecast projects modest March gains reflecting sustained export premiums and logistical pressures.
Billet Production Cost Trend shows upward pressure from elevated electricity surcharges and winter scrap constraints.
Billet Demand Outlook remains steady as infrastructure projects and export restocking offset softer domestic construction.
Elevated war-risk premiums tightened export availability, keeping the Billet Price Index supported despite limited liquidity.
Port inventories remained balanced at Black Sea while mills maintained normal rates, underpinning market stability.
Why did the price of Billet change in March 2026 in Europe?
Geopolitical tensions raised freight risk premiums, increasing landed costs and supporting firmer export-driven pricing levels.
Stable mill output and balanced scrap supply limited domestic volatility, keeping upward bias in markets.
Seasonal construction restart and steady export restocking increased buying interest, tightening near-term availability and sentiment.
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Product Description
A billet is a semi-finished solid metal product- typically cylindrical or square in cross-section- that is produced through casting or continuous casting and subsequently processed through rolling, extrusion, or forging to manufacture finished or intermediate products. Billets are commonly made from materials such as steel, aluminium, or copper and serve as the primary feedstock for producing bars, rods, wire, structural sections, and other engineered components. In the metals supply chain, billets represent an intermediate stage between raw molten metal and fully finished goods, offering uniform composition, controlled dimensions, and improved metallurgical properties after solidification. Their size, shape, and chemical composition are tailored to downstream processing requirements, and they play a critical role in ensuring consistency, mechanical strength, and production efficiency across various industrial applications including construction, automotive, aerospace, and manufacturing sectors.
Product Specific Details
HS Code:
7218
Grade:
IS 2831 (100*100 mm), Q 235 (150*150 mm), 3 SP (130*130 mm)
Contract Size:
100 MT
