Billet Price Trend and Forecast 2026-2027

Market Overview

The United States remained the priciest billet market tracked here through the first half of the year 2026 (H1 2026), with Q2 closing at a value of USD 632/MT against Q1's USD 620/MT, up 1.9%. Steady construction-sector demand kept a floor under the market, and the firmer iron ore and steel scrap feedstock costs added their own pull. The global average moved from USD 546/MT to a value of USD 556/MT, a similar gain of just a 1.8% percent. For the second half of 2026 (H2 2026), a range of an amount of USD 550 to 595/MT looks likely worldwide, supported by dependable construction and manufacturing demand.

Billet is a semi-finished steel product, cast continuously from a mix of iron ore or direct reduced iron, steel scrap, and limestone after primary steelmaking. It serves as the feedstock for further rolling into bars, rods, and structural sections. Carbon steel grade billet, the workhorse of building construction, accounts for the largest share of demand, while alloy steel grade feeds automotive and machinery manufacturing, and stainless steel grade serves specialty applications. Three things move the price: the iron ore and steel scrap feedstock costs, the construction-sector demand tied to building and infrastructure activity, and the automotive and machinery-sector demand for rolled steel products.

Billet Price Forecast for 2026

The second half of 2026 (H2 2026) opened firm across every market tracked here. The United States and Turkey both saw the steady construction and manufacturing demand support firmer pricing. India's growing construction sector kept the demand building, and China's large domestic production base kept it the most affordable of the four, even as the domestic demand firmed alongside everyone else.

A couple of factors bear watching. An iron ore or steel scrap feedstock cost spike, or a stronger than expected construction rebound, could actually push the prices past the top of the range. A slowdown in construction or automotive-sector demand could pull the market below the floor instead.

For the Quarter Ending June 2026

Billet Prices Q2 2026:

• China: USD 492/MT
• India: USD 535/MT
• Turkey: USD 579/MT
• United States: USD 632/MT

Billet Prices in China

China's billet producers passed through the firmer iron ore feedstock costs in the second quarter, and the domestic construction demand held steady. The gain came to a value of 1.9%, from USD 483/MT to USD 492/MT.

Why did the price of Billet change in Q2 2026 in China?

The iron ore feedstock costs firmed through the quarter. The domestic construction demand held steady. The quarter closed at a value of USD 492/MT.

Billet Prices in India

India climbed 1.9% to a value of USD 535/MT, with the construction-linked demand continuing to build through the period.

Why did the price of Billet change in Q2 2026 in India?

The construction-linked demand kept building. The feedstock costs firmed some more. The quarter closed at USD 535/MT.

Billet Prices in Turkey

Turkey gained 1.9%, reaching a value of USD 579/MT, as the established export-trading hub kept demand firm through the period.

Why did the price of Billet change in Q2 2026 in Turkey?

The export-trading hub kept demand firm. The feedstock costs firmed through the quarter. The quarter closed at a value of USD 579/MT.

Billet Prices in the United States

US billet firmed by 1.9% to a value of USD 632/MT, with the construction and manufacturing demand staying steady through the quarter.

Why did the price of Billet change in Q2 2026 in United States?

The construction and manufacturing demand stayed steady. The feedstock costs climbed some more. The quarter closed at USD 632/MT.

For the Quarter Ending March 2026

Billet Prices Q1 2026:

• China: USD 483/MT
• India: USD 525/MT
• Turkey: USD 568/MT
• United States: USD 620/MT

Billet Prices in China

China gained 1.9%, reaching a value of USD 483/MT, as the construction demand firmed up as the year opened.

Why did the price of Billet change in Q1 2026 in China?

The construction demand firmed as the year opened. The feedstock costs edged higher. The quarter closed at a value of USD 483/MT.

Billet Prices in India

India climbed 1.9% to a value of USD 525/MT, with the construction demand building through the quarter.

Why did the price of Billet change in Q1 2026 in India?

The construction-linked demand built through the quarter. The feedstock costs firmed. The quarter closed at USD 525/MT.

Billet Prices in Turkey

Turkey gained 2.0%, reaching USD 568/MT, as the export-trading demand stayed firm through the quarter.

Why did the price of Billet change in Q1 2026 in Turkey?

The export-trading demand stayed firm. The feedstock costs firmed modestly. The quarter closed at a value of USD 568/MT.

Billet Prices in the United States

US billet rose 2.0% to a value of USD 620/MT, with the manufacturing demand firming along with the new year.

Why did the price of Billet change in Q1 2026 in United States?

The manufacturing demand firmed with the new year. The feedstock costs continued climbing steadily. The quarter closed at USD 620/MT.

Quarterly Billet Price Trends

The global average climbed steadily across the window, from a value of USD 520/MT in the first quarter of 2025 to a value of USD 556/MT by the second quarter of 2026, a net gain of about 6.9%. Every single quarter posted a gain, the steady climb reflecting the firming iron ore and steel scrap feedstock costs and the dependable construction-sector demand across every market tracked here.

What was Billet Price in 2025?

2025 was a steadily firming year for billet across every market tracked here. The global average opened near a value of USD 520/MT in the first quarter and climbed in every quarter to close the fourth at USD 536/MT, a full year gain of 3.1%. Turkey and the United States both led in percentage terms, up 3.1%, India gained 3.0%, and China gained 3.0% as well, all supported by the firming feedstock costs.

Billet Prices in China in 2025

China opened 2025 at a value of USD 460/MT and closed the year at USD 474/MT, a 3.0% gain, the most affordable of the four markets throughout on its large domestic production base. Net direction for the year: solidly higher, with the steady domestic demand the main driver.

Billet Prices in India in 2025

India opened 2025 at USD 500/MT and closed at a value of USD 515/MT, a 3.0% gain. The growing construction-linked demand kept building through the year. Net direction for the year: solidly higher, with the expanding construction demand the main driver.

Billet Prices in Turkey in 2025

Turkey opened 2025 at a value of USD 540/MT and closed at USD 557/MT, a 3.1% gain. The established export-trading hub kept demand firm throughout the year. Net direction for the year: solidly higher, with the steady export-trading demand the main driver.

Billet Prices in the United States in 2025

The United States opened 2025 at USD 590/MT and closed at a value of USD 608/MT, a 3.1% gain, the highest absolute price throughout the four markets. The construction and manufacturing demand stayed consistently steady throughout the year. Net direction for the year: solidly higher, with the steady downstream demand the main driver.

How We Can Help

Expert Market Research: Your Source for Real-Time Billet Price Intelligence

Expert Market Research keeps a continuous watch on the billet pricing across every major producing and consuming region. A price alone says little, so the analysts here dig into what actually drives it: the iron ore and steel scrap feedstock economics, the construction-sector demand tied to building activity, and the automotive and machinery-sector demand for rolled steel products. The forecasts draw on feedstock trends, capacity data, and trade-flow shifts across all four reporting regions. Contact Expert Market Research today for the billet pricing data, bespoke market analysis, and strategic procurement advisory.