[SMM’s Weekly Review of the Indonesian Market] HRC, Billet Slip; Wire Rod Holds Amid Low Demand and Flat Chinese Prices

Published: Oct 16, 2026 16:14 (GMT+8)

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Week-on-week, wire rod held at USD 500/metric ton, billet fell from USD 490 to USD 480/metric ton, HRC dropped to USD 515/metric ton, and square billet dropped to USD 470/metric ton (ex-works). Demand in Indonesia is extremely low, and mills cannot supply buyers quickly, since delivery schedules are set for January 2027 and there is no spot inventory. Mills have started looking for other business, which has made both flat and long product prices more volatile.

Wire rod for highway projects has the strongest demand of the four products. Some buyers are still buying from small mills in Java, even though their prices may be USD 35-50/metric ton higher. Billet has probably fallen the least so far, as demand for January 2027 shipments supports it.

Next week, mills are expected to have little or no power to raise prices, since overall demand is weak and Chinese prices have not yet risen.

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