Dear Customers,
To expand SMM’s coverage of the international steel billet market and enhance price transparency for global market participants, SMM will launch a new weekly price assessment for Billet 3SP/4SP 150×150 FOB India, effective 18 August 2026.
The assessment will reflect prevailing spot-market transaction levels for Indian-origin 3SP and 4SP square billets exported from major Indian ports. It will be based on information collected from steel producers, traders, buyers and other active market participants, including confirmed transactions, bids and offers that meet or can be normalized to SMM’s assessment specifications.
India is an important producer and exporter of steel billets, supplying customers across Asia, the Middle East and other international markets. The new assessment will provide an independent pricing benchmark for export negotiations, procurement decisions, contract valuation, market analysis and cost accounting.
| Price Assessment Name | Definition | Specification | Grade | Unit | Quality Standard | Main Brands | Minimum Quantity |
| Billet 3SP/4SP 150×150 FOB India | FOB main Indian ports | 150×150 mm | 3SP/4SP | USD/tonne | GOST 380-2005 | RINL, JSW Steel, Jindal Steel, SAIL, etc. | ≥5,000 tonnes |
Details of the New Price Assessment
Common Standards and Parameters
- Delivery Time: Within 2–8 weeks.
- Publication Time: Weekly, every Wednesday at 12:00 PM India time.
- Payment Terms: L/C at sight, settled in USD. Other payment terms are subject to standardization.
Methodology Note: The above price is an objective spot-price assessment derived by SMM through extensive first-hand market research and transaction data. It is formulated and published in accordance with the SMM price-assessment methodology to reflect mainstream spot transactions and offers under the specified delivery location, specification and trading terms. For questions or suggestions regarding the price assessment, please contact us.
Shanghai Metals Market (SMM)
Steel Research Team
14 August 2026