[SMM Steel] Indonesian Billet Falls Again to $470/mt FOB, Mills Turn to Exports as Home Demand Stalls

Published: Oct 19, 2026 16:05 (GMT+8)

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[Indonesia] Billet prices fell USD 3/mt to USD 470/mt FOB as mills cut offers to find buyers abroad. Demand at home is weak: construction remains sluggish, many national projects have been postponed, and work is limited to projects already underway. Domestic buyers are only restocking small volumes and are holding out for lower prices, so mills need export sales to keep their volumes moving. Wire rod is the only long product with solid demand, thanks to highway projects. A billet rebound is unlikely soon, since Chinese prices are not expected to rise either. Chinese billet offers have softened on weaker futures and easing costs, and the demand outlook for Chinese long steel remains weak.

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