Dear Customers,
To provide a more comprehensive and accurate reflection of the international steel billet spot market, assist market participants in better navigating global steel trade flows and pricing mechanisms, and mitigate market risks during international trade, Shanghai Metals Market (SMM), following in-depth market research and industry engagement, has decided to launch new import and export price assessments for steel billets in the Black Sea region, the Philippines, and Turkey, effective from 13 July 2026.
In recent years, the evolution of global steel capacity and trade patterns has significantly increased the trading activity of steel billets in the Black Sea, Southeast Asia, and the Middle East. As critical supply sources and consumption hubs, price volatility in these regions profoundly impacts the global steel valuation framework.
The introduction of these regional CFR and FOB price assessments aims to refine SMM's international steel pricing system, bridge data gaps at key logistics nodes, and provide upstream and downstream enterprises with more authoritative, transparent, and actionable pricing benchmarks and risk management references.
Details of the New Price Assessments:
Common Standards and Parameters:
- Delivery Time: Within 2 months
- Publication Time: Daily, Working Days, 11:30 AM (Beijing Time)
- Payment Terms: L/C at sight in USD; other payment terms are subject to standardization.
Methodology Note: The above prices are objective spot prices derived by SMM through extensive first-hand market research and actual transaction data. They are formulated and published strictly in accordance with the SMM pricing methodology to authentically reflect the mainstream spot transaction levels and offers under specified delivery locations, specifications, and trading standards. Should you have any inquiries or suggestions regarding these price assessments, please feel free to contact us.
Shanghai Metals Market (SMM)
Steel Research Team
2 July 2026