Global square billet markets showed mixed price movements in October 2026, with prices declining in Turkey and China while quotations in the Persian Gulf increased amid supply and logistics disruptions.
In Turkey, average square billet prices fell $13/mt to $563/mt EXW by the end of October. Weak rebar demand and disruptions to Russian shipments continued to pressure the market. Russian billets were offered at $540–550/mt CFR, while Turkish buyers' counteroffers remained below $515/mt CFR.
Turkey's billet imports declined 17% year on year to 286,000 mt in September, with China supplying 142,000 mt, followed by Malaysia at 53,000 mt and Vietnam at 50,000 mt.
Meanwhile, average billet prices in China's Tangshan market decreased $10/mt to $434/mt, reflecting sluggish end-user demand, weaker rebar futures and rising inventories. Chinese export quotations also declined to approximately $455–460/mt FOB.
In Southeast Asia, billet demand remained subdued as buyers postponed purchases and sought lower prices. Import quotations in Vietnam from Thailand and Indonesia stood at approximately $490/mt CFR, compared with domestic prices of $510–520/mt CPT.
In contrast, Persian Gulf billet prices increased $34/mt to $535/mt CFR, supported by import delays, higher freight costs and tighter local availability. However, weak rebar demand continued to limit further price increases.
VietnamSteel by Hoa Sen Group
