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ChinaQ1 2025
In the first quarter of 2025, the steel billet market experienced a notable decline, with prices dropping by $458.75 per metric ton, FOB Shanghai representing a 2.10% decrease. This downward trend reflects softening demand across key industrial sectors, including construction and manufacturing, amid global economic uncertainties and tighter monetary policies. Additionally, oversupply in major producing regions and easing raw material costs, such as iron ore and scrap, contributed to the price correction. The decline signals cautious buyer sentiment and a potential shift in market dynamics as producers reassess output levels to stabilize prices moving forward.
Q4 2024
In Q4 2024, the steel billet market experienced a notable price increase of $468.58 per metric ton, FOB Shanghai reflecting a 0.75% uptick from the previous quarter. This moderate but significant rise suggests sustained demand, likely driven by continued infrastructure development and manufacturing activity in key markets such as Southeast Asia and the Middle East. Additionally, supply constraints due to elevated energy costs and geopolitical tensions may have contributed to the upward price pressure. The 0.75% increase, while not extreme, indicates steady market momentum and resilience, signalling a cautiously optimistic outlook for the steel billet sector heading into 2025.
Q3 2024
In Q3 2024, the steel billet market experienced a notable downturn, with prices declining by $465.11 per metric ton, FOB Shanghai representing a 9.48% drop. This price correction reflects a combination of weakening global demand, particularly from key construction and manufacturing sectors, and an oversupply situation fueled by increased production in major steel-producing regions. Additionally, macroeconomic factors such as high interest rates, geopolitical uncertainties, and reduced infrastructure spending in emerging markets have contributed to dampening buyer sentiment. The price drop underscores the industry’s sensitivity to shifting economic indicators and could prompt producers to reassess output levels to stabilize the market in the coming quarters.
Q2 2024
In the second quarter of 2024, the steel billet market experienced a notable price decline, with the average price dropping by $513.83 per metric ton, FOB Shanghai representing a 2.31% decrease. This downward trend reflects weakened demand across key consuming sectors such as construction and manufacturing, coupled with a supply surplus from major producers. Global economic uncertainty, slower-than-expected industrial recovery in China, and softer commodity demand contributed to the bearish sentiment. Additionally, reduced raw material costs and improved production efficiencies may have pressured prices further. Market participants are closely monitoring potential stimulus measures and trade policy adjustments that could influence pricing dynamics in the coming quarters.
Q1 2024
In Q1 2024, the steel billet market experienced a notable downturn, with prices declining by $525.96 per metric ton, FOB Shanghai representing a 2% decrease. This suggests that while the absolute price drop appears substantial, the percentage change indicates it occurred from a relatively high price base. The decline may be attributed to several market dynamics, including softened global demand, particularly from construction and manufacturing sectors, as well as increased supply from major producing countries. Additionally, easing raw material costs and improved production efficiencies likely contributed to downward pricing pressure. Market sentiment may also have been influenced by macroeconomic factors such as interest rate policies, trade shifts, or geopolitical developments impacting steel trade flows.
PriceWatch is your trusted resource for tracking global steel billet price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the steel billet market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, PriceWatch keeps you fully informed of market dynamics.
In addition, PriceWatch provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With PriceWatch, you gain a competitive edge in understanding all the elements that influence steel billet prices worldwide. Stay ahead of the curve with PriceWatch’s reliable, accurate, and timely steel billet market data.
Track PriceWatch's steel billet price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.
Geopolitical Tensions and Trade Policies (2022–2023): Events such as the Russia-Ukraine war disrupted steel and raw material supply chains, particularly in Eastern Europe—an important billet-producing region. Sanctions, export restrictions, and shifting trade flows further constrained supply and added to global price volatility.
Energy and Raw Material Cost Inflation (2021–2022): Prices of key inputs like iron ore, coking coal, and energy (especially electricity and natural gas) rose sharply, increasing production costs for steel billets. These cost pressures were passed downstream, contributing to elevated billet prices.
Post-Pandemic Economic Recovery (2020–2021): As global economies began recovering from the COVID-19 pandemic, pent-up demand for construction, manufacturing, and infrastructure development surged. This rebound drove up demand for steel billets as a primary input in long and flat steel products, leading to a notable price increase.
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Steel billet is a semi-finished product made from molten steel that has been cast and then shaped into rectangular or square cross-sections. It serves as a primary raw material for the production of long steel products such as rebar, wire rods, and structural steel. Known for its strength, malleability, and uniform composition, steel billet is widely used in construction, manufacturing, and engineering industries. Its high structural integrity and versatility make it essential in forging, rolling, and other metal-forming processes.
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PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Property | Specification |
| Material Grade | Carbon Steel / Alloy Steel (e.g., SAE 1006, SAE 1018, etc.) |
| Standard | ASTM A29, IS 2830, EN 10025 |
| Size (Cross Section) | 100 mm x 100 mm to 200 mm x 200 mm (or as per requirement) |
| Length | 6 – 12 meters (custom lengths available) |
| Surface Condition | As rolled / As cast / Machined |
| Tolerance | ±2 mm (length and cross section depending on standard) |
| Tensile Strength | 370 – 700 MPa (depending on grade) |
| Yield Strength | ≥ 240 MPa (varies with grade) |
| Elongation | ≥ 20% |
Applications
Raw Material Costs – Steel billets are primarily produced from iron ore, scrap steel, and other raw materials. Changes in the prices of these raw materials directly impact billet costs.
Supply and Demand – Demand from sectors like construction, automotive, and manufacturing affects billet prices. High demand or low supply pushes prices up, while oversupply can bring them down.
Manufacturing Costs – Costs related to energy, labour, maintenance, and technology in steel mills influence the final price of billets.
Global Trade Policies & Tariffs – Import/export duties, trade restrictions, and tariffs on steel or raw materials can affect billet prices in various markets.
Market Competition – The number of producers and their pricing tactics impact market rates for steel billets.
Exchange Rates – Because steel billets are traded globally, fluctuations in currency values influence pricing in different countries.
Energy Prices – Steel production is energy-intensive; changes in electricity, coal, or natural gas prices can significantly affect billet manufacturing costs.
Environmental Regulations – Compliance with environmental policies may increase operational costs, influencing steel billet prices.
The availability and cost of raw materials such as high-carbon steel and alloy coatings directly affect steel billet production costs and pricing.
Steel billet prices tend to increase with inflation, driven largely by higher raw material and energy costs in production. Additionally, ongoing demand from construction, manufacturing, and infrastructure projects supports price stability, even during periods of economic uncertainty.
PriceWatch offers a range of tools and services to track commodity prices effectively:
Real-Time Data: Access market intelligence and data on global steel billet supply chains.
Expert Analysis: Insights into market trends and potential risks.
Risk Assessment: Tools to evaluate supply chain vulnerabilities.
Benchmarking: Compare steel billet prices and sourcing practices.
Supplier Intelligence: Information on supplier reliability and financial health.
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