Middle East Billet Producers Struggle with Falling Demand and Weak Prices

Post Views: 291 billet Demand Decline Puts Pressure on Middle East Steel Mills In the first half of April 2025, Middle Eastern billet producers faced financial strain. Falling demand and weakening prices were the main contributors. Bids for commercial billets in Gulf Cooperation Council (GCC) countries dropped by $11 per ton, reaching $449 per ton CFR by April 18. Several mills in Saudi Arabia were forced to sell billets at $520 per ton EXW, according to Kallanish. Despite the downturn, plants are refraining from shutting down completely. They hope for a recovery in the coming months. The esti...