Steel Billets
Steel billets are semi-finished long products with a square cross-section, typically 100mm to 200mm, produced via continuous casting. They are reheated and rolled into rebar, wire rod, bars, and sections. Billet pricing closely tracks scrap and iron ore costs.
Steel Billets at a Glance
What Moves Steel Billets Pricing
Billet pricing tracks scrap and iron ore inputs plus a conversion margin. Turkey (the dominant Mediterranean billet exporter) prices off Istanbul ex-works equivalents, while CIS billet (Russia, Ukraine prior to disruption) sets Black Sea benchmarks. Demand drivers include Middle East and North Africa construction, Southeast Asian rolling mill restocking, and Latin American rebar production. The billet-to-rebar spread (BIR-REB) signals re-rolling mill profitability.
How Steel Billets Cargoes Are Priced and Settled
Standard cargoes are 5,000-30,000 tonnes per parcel. Pricing is FOB Black Sea or CFR various Asian ports against MEPS or Argus benchmarks. Letter of credit dominates payment. Quality is per ASTM A615 or BS 4449 with certified mill test certificates accompanying each heat number.
Steel Billets Specifications and Dispute Practice
Grades 3SP, 5SP, and 20MnSi cover most billet trade. Disputes turn on chemistry (carbon, manganese, sulfur, phosphorus), dimensional tolerance, and surface defects. Cropping for visible cracks at the buyer's mill is common; rejection volumes above 2% trigger commercial negotiation rather than formal arbitration in most cases.
Where Steel Billets Comes From and Where It Goes
Major exporters: Turkey, Russia, Iran, India, Vietnam, Egypt. Major importers: Egypt (despite local production), Saudi Arabia, UAE, Indonesia, Philippines, US (limited due to Section 232), and various Latin American re-rollers. Black Sea billet has been disrupted since 2022; Iranian billet faces sanctions complications but trades in regional markets.
More in Metals
Ready to Trade Steel Billets?
Join commodity traders already using CommodityTradeX to find verified counterparties and manage deals end-to-end.
Create Your Free AccountNo credit card required. Free tier includes unlimited listings.