Technical Resource
Steel Billet Price Guide
A steel billet price is only meaningful with a date, product/grade basis, dimensions, quantity, origin or supply basis, delivery location, Incoterm, currency, payment terms and included documents. Do not publish an undated “billet price per ton” as if it were a universal live market benchmark.
A billet price is a commercial position taken at a moment, carrying a specification and a delivery basis. This guide shows you how to put two quotations on the same footing so the difference between them means something.
What moves a quoted basisSix things every price carries
- Date and validityWhen the figure was valid and how long it stood. An undated price cannot be compared to anything.
- Grade and chemistry basisThe designation, and the standard that defines it. A grade name without its standard is ambiguous.
- Section, length and quantityGeometry and tonnage. Both affect what a supplier can offer and at what basis.
- Currency and price unitWhich currency, and whether the figure is per tonne, per piece or per lot.
- Incoterm and named placeThe rule and the place it applies to. Neither means anything without the other.
- Documents and inclusionsWhat the price covers — freight, insurance, testing, inspection, certification.
No price, price level or market trend is published on this page. Comparisons are made against your own supplier quotations, not against an asserted market figure.
Working technical tool
Billet Quote Normalizer
Record the commercial basis of two quotations side by side. The tool shows which fields match, which differ, and what is missing — so you know whether the two figures can be compared at all.
This tool never calculates or estimates a price. It does not convert currencies, average figures or infer a market level. Enter the basis each quote was given on, and it tells you whether those bases line up.
Normalization incomplete — name the remaining commercial fields on both quotes
0 of 11 comparison fields match · 16 required field(s) still to name
Quote A
No basis recorded yet. Fill the required fields to build the normalized line.
Required fields still to name
Date the price was quoted, Grade / specification, Section and length, Quantity and unit basis, Currency, Price unit, Incoterm 2020 rule, Named place
- Freight basis is not stated, so the figure cannot be placed on a common delivery basis with another quote.
- Document scope is not stated. Two prices covering different document sets are not the same offer.
- Payment terms are not stated. Terms change the value of a price without changing the number.
- Origin or supply basis is not stated. Origin affects duty, freight and the documentary route.
Quote B
No basis recorded yet. Fill the required fields to build the normalized line.
Required fields still to name
Date the price was quoted, Grade / specification, Section and length, Quantity and unit basis, Currency, Price unit, Incoterm 2020 rule, Named place
- Freight basis is not stated, so the figure cannot be placed on a common delivery basis with another quote.
- Document scope is not stated. Two prices covering different document sets are not the same offer.
- Payment terms are not stated. Terms change the value of a price without changing the number.
- Origin or supply basis is not stated. Origin affects duty, freight and the documentary route.
| Field | Quote A | Quote B | Status |
|---|---|---|---|
| Grade / specification | — | — | not stated Not stated on either quote. Both sides are silent here, which is not agreement — go back for the term before comparing. |
| Section and length | — | — | not stated Not stated on either quote. Both sides are silent here, which is not agreement — go back for the term before comparing. |
| Quantity and unit basis | — | — | not stated Not stated on either quote. Both sides are silent here, which is not agreement — go back for the term before comparing. |
| Currency | — | — | not stated Not stated on either quote. Both sides are silent here, which is not agreement — go back for the term before comparing. |
| Price unit | — | — | not stated Not stated on either quote. Both sides are silent here, which is not agreement — go back for the term before comparing. |
| Origin / supply basis | — | — | not stated Not stated on either quote. Both sides are silent here, which is not agreement — go back for the term before comparing. |
| Incoterm 2020 rule | — | — | not stated Not stated on either quote. Both sides are silent here, which is not agreement — go back for the term before comparing. |
| Named place | — | — | not stated Not stated on either quote. Both sides are silent here, which is not agreement — go back for the term before comparing. |
| Freight and insurance inclusion | — | — | not stated Not stated on either quote. Both sides are silent here, which is not agreement — go back for the term before comparing. |
| Payment terms | — | — | not stated Not stated on either quote. Both sides are silent here, which is not agreement — go back for the term before comparing. |
| Documents and testing included | — | — | not stated Not stated on either quote. Both sides are silent here, which is not agreement — go back for the term before comparing. |
Landed-cost inputs to gather
Where you need a landed comparison, these are the inputs to collect from each supplier and from your own freight and clearance parties. No rate is shown here, because a rate is only meaningful against your own route, commodity and timing.
- Ocean or inland freight rate for the named place
- Marine insurance premium, where the rule requires it
- Terminal handling and port charges at both ends
- Customs duty and any destination levies
- Inland carriage from port to the receiving works
- Inspection, testing or certification fees
- Banking charges on the agreed payment terms
- Demurrage or storage risk at the named place
Nothing above is a price. The record holds only the basis you entered, so it can be checked and challenged input by input.
Method and conditions
What normalization actually does
It is not a calculation. Nothing is summed, converted or averaged — the method holds a set of commercial fields constant and reports which of them do not line up.
The four steps
- 01
Record the basis, not the number
Each quote is described by the fields it was given on — grade, geometry, quantity, currency, unit, origin, Incoterm and named place, freight inclusion, payment terms and document scope. The price itself is never entered, because the tool does not work with it.
- 02
Test the required set
Eight fields have to be present before a basis can be normalized at all. Where one is missing on either side, the tool reports which, and no comparison conclusion is drawn.
- 03
Compare field by field
Eleven commercial fields are compared pairwise across the two quotes. Each is reported as matching, differing, or not stated on both sides.
- 04
Report, never infer
Where fields differ or are missing, the tool says so and stops. It does not adjust one figure to match another, convert a currency, or estimate what the difference would be.
Sources, units and assumptions
- Unit system
- Whatever you enter. The tool reports the unit basis rather than converting between them, so a per-tonne and a per-piece quote are shown as differing rather than reconciled.
- Currency handling
- No conversion and no rate. Two quotes in different currencies are reported as differing on the currency field — which is the honest answer, because the rate you would apply is a commercial decision, not a property of the quotes.
- Price source
- Your own supplier quotations. No third-party index, market level or historical contract figure is used, referenced or implied.
- Age reference
- Quote age is measured against the date this resource was prepared (2026-10-03), so the warning is fixed and does not drift with the visitor's clock.
- Applicability limitation
- A comparability check on the basis of quotations. It does not validate a price, assess whether a figure is competitive, or confirm that a supplier can perform.
Worked examples
Three comparisons, and what each one shows
No prices appear in these examples, because the point of each is the basis rather than the number. They show how two quotes can look comparable and not be.
Example 01
Same grade, different delivery basis
Inputs
Quote A: 5SP billet, 150 × 150 mm × 12 m, 5,000 t, USD per tonne, FOB Jebel Ali, freight excluded, LC at sight, MTC and shipping documents. Quote B: the same grade, geometry and tonnage, USD per tonne, CIF Jebel Ali, freight and insurance included, LC at sight, same documents.
Method
Eight required fields present on both. Field-by-field comparison: ten fields match, the Incoterm field differs (FOB against CIF) and the freight-inclusion field differs (excluded against included).
Result. Two fields differ. The tool reports the comparison as not directly comparable and stops there.
Reading it. This is the most common false comparison in billet procurement. The two figures look like the same product at two prices, but one stops at the port and the other arrives — the difference between them is freight and insurance, not commercial advantage.
Decision impact. Without normalizing, a buyer may select the cheaper headline and find the delivered cost is higher once freight and insurance are added.
Verification step. Ask both suppliers for a quote on the same Incoterm and named place, then compare. Or gather freight and insurance rates separately and compare on a consistent basis.
Example 02
Undated figures carried forward from an older discussion
Inputs
Quote A: quoted 21 days ago, validity 14 days from quote, all required fields present. Quote B: quoted 120 days ago, no validity period given, all required fields present.
Method
Both bases normalize completely, so the field comparison reports every field as matching. The age check runs separately against the reference date.
Result. Quote B raises an age warning — over three months old — and Quote A raises a validity reminder, since its stated validity has already lapsed.
Reading it. The basis can be identical and the quotes still not comparable, because both have moved out of validity. A perfectly normalized basis on a stale figure is a stale figure.
Decision impact. The buyer re-quotes rather than comparing a live offer against a position taken months earlier in a different market.
Verification step. Ask each supplier to confirm the price still stands, or to re-issue it with a current date and a stated validity period.
Example 03
A named place with no Incoterm rule
Inputs
Quote A: complete basis, FOB Jebel Ali. Quote B: all fields present except the Incoterm, with 'Jebel Ali' entered as the named place, and freight inclusion left unstated.
Method
The required set fails on Quote B — the Incoterm field is empty. Two warnings also fire: a named place without a rule, and freight inclusion not stated.
Result. Normalization is reported as incomplete. No comparison conclusion is drawn, and the seven fields that could be compared are shown without a verdict.
Reading it. A named place is not a substitute for a rule. 'Jebel Ali' as a place could mean FOB, CIF or DAP Jebel Ali, and each puts a different set of costs inside the quoted figure.
Decision impact. The buyer goes back for the missing rule rather than assuming which one applied — which is the assumption that most often turns into a dispute.
Verification step. Ask Quote B's supplier to state the Incoterm 2020 rule alongside the place, and to confirm whether freight and insurance are inside the figure.
Tolerance and assumptions
What moves a quoted basis
A price changes when the supplier's obligation changes. These are the levers that move it, and the boundary that keeps a commercial position from being read as a market fact.
| Lever | Unit / form | How it changes the basis | What closes it | Evidence boundary |
|---|---|---|---|---|
| Grade and chemistry basis | designation + standard | A different grade is a different product. It changes what the mill must produce and what the certificate must show. | The designation named together with the standard and edition that defines it. | No composition or property value is asserted here. Designations are not interchangeable across standards. |
| Section and length | mm, m | Geometry sets the rolling route and the charge plan, and can constrain which mill can produce the order at all. | Nominal section and length, with the receiving works' entry limits confirmed. | Entry fit is mill-specific. A section that suits one works is not evidence it suits another. |
| Quantity | t, pieces | Volume affects how the order is scheduled and whether it fills a heat or a shipment economically. | Tonnage stated with its unit and the basis — per shipment, per programme or per heat. | Quantity belongs to the order, not to the market. No volume threshold is claimed here. |
| Origin / supply basis | country, mill or trader | Origin affects duty, freight routing, documentary requirements and the allocation of risk. | The origin stated as you understand it, confirmed against the certificate at dispatch. | Origin is an order-specific fact. No market coverage or supply position is claimed. |
| Incoterm and named place | rule + place | Decides which costs and which risks sit inside the quoted figure. It is the single largest source of false comparison. | The Incoterm 2020 rule stated together with its named place, and freight inclusion confirmed separately. | A rule has no meaning without a place, and inclusion is often stated loosely — confirm both. |
| Payment terms | LC, advance, open account | Terms change the financial cost of a supply without changing the stated number at all. | The payment instrument and its timing, agreed in the contract. | Banking cost is route-specific. No rate or charge is asserted here. |
| Documents and testing | certificates, inspection | A wider document or inspection scope is work the supplier must perform and evidence. | The document set, the test scope and who issues each item. | A certificate scope not stated cannot be compared against the certificate you receive. |
A quotation is a position, not a market fact. Every figure a supplier gives carries the specification, the delivery basis and the date it was taken on. Strip any of those away and what remains is a number that cannot be reconciled to your enquiry. No price, price level or trend is published on this page, and none should be inferred from it.
Where grade routes change the basis
A designation identifies the material only in combination with the standard that defines it. No equivalence is asserted here between 3SP, 5SP, Q235B, S235 and any ASTM designation — a comparison of that kind is a conditional engineering judgement to be agreed for the order, not a substitution between suppliers.
Where a size route changes the basis
Section is the geometry a supplier must actually roll and charge. A size route confirms what the nominal dimensions are and their tolerance basis; it settles nothing about the commercial terms the price was given on.
Verification and misuse controls
Where price comparisons go wrong
The arithmetic is never the problem, because there is no arithmetic. These are the points where two figures get compared as if they described the same offer — and what closes each one.
| Requirement | You must specify | Evidence to request | Accepted by | If it is missing |
|---|---|---|---|---|
| Quote date and validity | The date the price was given and how long it stands. | A written quotation carrying its date and validity period. | Your commercial function, before the figure is used. | An aged or expired position treated as current, and a comparison against something that no longer applies. |
| Delivery basis | The Incoterm 2020 rule and its named place, with freight and insurance inclusion confirmed. | The rule and place stated in the quotation itself, not clarified afterwards. | Your procurement function, at the comparison stage. | The most common false comparison: two figures that differ by freight rather than by commercial terms. |
| Specification reference | The grade with the standard that defines it, plus section, length and tolerance basis. | The controlling standard and edition cited in the offer. | Your technical reviewer, against the order specification. | Two suppliers quoting designations that look alike and are not equivalent. |
| Payment terms | The instrument and its timing. | The terms written into the quotation or contract. | Your finance function, on a like-for-like basis. | Two prices compared that carry different financial cost behind the same number. |
| Document and testing scope | Which documents are issued, which tests are performed, and who issues each. | The stated scope, matched against the certificate you will actually receive. | Your quality function, at intake. | A narrower offer that looks cheaper because it promises less evidence. |
| Quantity basis | Tonnage with its unit and whether it is per shipment, per programme or per heat. | The quantity stated in the offer and confirmed at dispatch. | Your procurement function, against the packing list. | Two figures quoted on different volume assumptions, compared as though they were the same order. |
Four figures that get used as benchmarks and should not be
An undated price from a conversation
A number quoted verbally or in passing has no date, no validity and often no delivery basis. It cannot be reconciled to a written offer.
A historical contract level
A lapsed or delisted contract describes a basis that once existed. Its levels do not describe the present market and must not be presented as a current reference.
A headline figure with no delivery basis
Without an Incoterm and a named place, there is no way to know what costs the figure includes — which is precisely what makes it incomparable.
A figure carried from a different specification
A different grade, section or tolerance basis is a different product. Comparing its price to yours measures the difference between two products, not between two suppliers.
When commercial review is required
Normalization establishes whether two offers can be compared. It does not tell you which to accept. Where the specification is still open, where duty or classification is unresolved, or where the payment terms differ materially, take the comparison to a commercial reviewer rather than deciding on the normalized basis alone.
Product decision handoff
Where a normalized basis goes next
Two registered type routes carry this forward. Each answers a different question about the material the quotations describe.
Continuous casting billet
Continue here when the casting route is settled and the open questions are the grade and geometry your suppliers have quoted against.
The route describes the production method. It fixes no grade and no section, so it confirms none of the fields your comparison depends on.
continuous casting billet supplierRebar-grade billet
Continue here where the material is destined for reinforcement and the acceptance basis comes from a product standard rather than your own drawing.
Reinforcement acceptance and general engineering acceptance are different controls. Suiting one does not settle the other.
rebar billet supplierA route is not a price basis. Choosing the product form and normalizing the terms a supplier quoted are separate tasks. The comparison above works on the commercial basis; the routes narrow the technical field. Keeping them apart is what stops a product decision being recorded where a commercial one was needed.
Related registered tools and routes
Where the comparison continues
Grouped by the task that follows normalization. Each path answers a question the comparison raises but does not settle.
Price resources
Billet hierarchy
Downstream applications
GCC product × country routes
Destination-specific price and document inputs
Six destinations, and the commercial input that most often changes the delivered basis on each. None of these cards claims a served market, a stock position or a price.
United Arab EmiratesDomestic basis, coordinated from Dubai.Name the receiving works and the delivery basis the price is quoted on. Domestic movement is arranged from Dubai against the agreed section, length and heat separation.steel billet supplier UAE
Saudi ArabiaSubmittal approval before release.Saudi routes commonly require submittal approval before material moves. Settle the specification, the certificate scope and the named port or inland destination before comparing prices.steel billet supplier Saudi Arabia
QatarApproval sequence and document scope led.Confirm the importer's document and classification position, the named port, and how long the approval sequence runs before the quotation can be finalised.steel billet supplier Qatar
OmanPort-oriented supply for downstream rolling.Name the port or inland delivery place and the Incoterm rule. Section and length are harmonised with what the receiving works takes in.steel billet supplier Oman
KuwaitSupply planned against a production hand-off.Tie the tonnage to the production programme, and agree the shipment against the named destination and the delivery window that programme is working to.steel billet supplier Kuwait
BahrainIndustrial supply and re-export documentation.Industrial routes live or die on accurate paperwork. Confirm the document set, the named place and the importer's requirements before dispatch, not after arrival.steel billet supplier Bahrain
What every route needs before a basis can be compared. The named port, terminal or inland place; the Incoterm 2020 rule that applies to it; whether freight and insurance sit inside the figure; the importer's document and classification position; and the delivery window the programme is working to. Given those on both quotations, the comparison has something to stand on.
Expert insight
Why an old benchmark is dangerous as a current reference
A source-backed decision note. The question is what happens when a lapsed contract level is carried into a live comparison.
What does a delisted contract actually tell you?
CME Group issued a notice delisting the Steel Billet, FOB Black Sea (Platts) Futures contract, with the delisting taking effect in March 2017. That notice is the primary source here, and it is worth being precise about what it does and does not establish.
What the source establishes. That a published, exchange-traded billet reference existed on a defined basis — billet, FOB, Black Sea — and that it was formally discontinued on a stated date. It documents how a billet price basis is constructed and that such bases can and do lapse.
What it does not establish. Any current price, current level or current trend. A delisted contract is not a live reference, and its historical settlements describe the market as it stood before discontinuation — not the market today.
The danger is not that the old numbers were wrong. It is that they were specific, published and citable, which gives them a false authority when they reappear years later. A figure with a contract name behind it reads as a market fact, and a reader who does not check the status has no reason to doubt it.
The practical failure runs like this: a buyer needs a reference to sanity-check a supplier quotation, finds a historical billet level, and treats it as the benchmark the quote should be measured against. The comparison then measures today's offer against a market that stopped existing — and any conclusion drawn from the gap is unfounded in either direction.
The sound approach is to build the comparison from current supplier quotations normalized on an identical basis, and to date every figure. Where a market reference genuinely helps, it needs a current licensed source, checked against its geography, grade and delivery basis — because a Black Sea FOB level is not a delivered Gulf level, whatever the date.
Buyer implication. Normalize current supplier quotations by exact technical and delivery basis, and date them. Do not fill a missing live benchmark with a historical contract.
Source and scope
- Primary source
- CME Group — Delisting of Steel Billet, FOB Black Sea (Platts) Futures
- Document reference
- cmegroup.com — notice SER-7904
- Status
- Delisted March 2017. Not a current live benchmark.
- Method
- The buyer decision is compared against the source scope, and what the source establishes is kept separate from what is order-specific.
- Information date
- 2026-10-03
- Evidence boundary
- The source does not prove inventory, price, lead time, origin, certification or market coverage. Those remain quotation- and evidence-dependent.
Buyer advantages
What a normalized comparison changes
No claim here rests on being better than anyone. Each one is a buyer concern mapped to something checkable, and then to what it changes about the decision.
You know whether two quotes are comparable at all.
Evidence: Eleven commercial fields compared pairwise, each reported as matching, differing or not stated.
Outcome: You stop treating a freight difference as a commercial advantage, and stop choosing on a figure that measures the wrong thing.
Every figure carries its date.
Evidence: Quote age and stated validity checked against a fixed reference date, with a graded warning.
Outcome: An expired or aged position is identified before it is used as the basis of a decision.
Missing fields stop the comparison.
Evidence: Eight required fields tested on both quotes; where one is absent, no comparability verdict is issued.
Outcome: You go back for the missing term rather than assuming which one applied.
The landed-cost inputs are named, not guessed.
Evidence: A checklist of the inputs to gather from suppliers and your own freight and clearance parties.
Outcome: You build a landed view on real rates for your route, rather than on an assumed figure.
The comparison travels with its own basis.
Evidence: Copying the record includes both normalized bases, the field-by-field result and the boundary note.
Outcome: A colleague can reproduce the comparison and challenge a field rather than the conclusion.
Enquiry to delivery
Where price comparison sits in the process
Six stages from enquiry to delivery. Each names the input that has to exist before it can start, and the risk it closes when it does.
Fix the specification before inviting prices
Owner: Buyer, with the technical reviewer
Input: Grade with its defining standard, section and length, tolerance basis, and any condition requirement.
Output: A stated scope every supplier will quote against.
Risk closed: Offers that differ technically without anyone noticing, compared later as though they described the same product.
State the commercial frame in the enquiry
Owner: Buyer to the commercial department
Input: Quantity with its unit, named place, Incoterm 2020 rule, document set and required timing.
Output: Quotations returned on a common basis rather than each supplier's default.
Risk closed: The normalization stage having to reconstruct terms that should have been specified up front.
Receive and record each quotation's basis
Owner: Buyer's procurement function
Input: Each quote's date, validity, currency, unit, origin, delivery terms and inclusions.
Output: Two fully described positions rather than two numbers.
Risk closed: An undated or loosely worded offer entering the comparison as though it were complete.
Normalize and identify what differs
Owner: Buyer, using the comparison
Input: Both bases entered field by field.
Output: A clear list of matching, differing and missing fields.
Risk closed: A decision taken on a difference that is freight or documentation rather than commercial terms.
Re-quote where the basis does not line up
Owner: Buyer, back to each supplier
Input: The specific fields that differ or are unstated.
Output: Offers that can be compared on identical terms, or a recorded decision to accept a difference.
Risk closed: A missing term filled by assumption, and a discrepancy discovered at contract stage.
Agree the basis in the contract
Owner: Buyer and supplier, at contract stage
Input: The delivery rule and place, payment terms, document scope and validity.
Output: A written basis that settles any later difference before it arises.
Risk closed: A price dispute with no agreed basis to measure it against.
Buyer FAQ
Questions that come up when comparing offers
Commercial and technical points a procurement manager raises once the normalization idea is clear — not definitions, which are settled above.
What information makes a billet price comparable?
Ten things have to be held constant across the quotations you are comparing: the date the price was valid, the grade or chemistry basis, the section and length, the quantity, the currency, the unit the price is expressed in, the origin or supply basis, the Incoterm together with its named place, whether freight and insurance are inside the number, and which documents the price includes. Change any one of them and the two figures answer different questions.
Is there a universal current billet price per tonne?
No. A billet price is a commercial position taken at a moment, carrying a specification and a delivery basis. It is not a published constant. Two quotations given on the same day for the same tonnage can differ legitimately because they differ on freight inclusion, document scope, payment terms or the named place. Treat any undated figure presented as a general market price with caution — it cannot be reconciled to your enquiry.
Can the old CME Black Sea billet contract be used as a live benchmark?
No. CME delisted the Steel Billet, FOB Black Sea (Platts) Futures contract in March 2017, so it is not a current reference and its historical levels do not describe today's market. It remains useful as a documented example of how a billet price basis was once defined and why contracts lapse. Any live market reference needs a current licensed source, checked against its geography, grade and delivery basis.
How do Incoterm and named place change price comparison?
An Incoterm rule only has meaning against a named place, and it decides which costs sit inside the quoted figure. A price on an ex-works basis and a price delivered to your port are not comparable numbers, however similar they look — the difference is the freight, insurance, terminal handling and risk that one includes and the other does not. Always record the rule and the place together, and check freight inclusion separately because it is often stated loosely.
Which technical extras can change the quoted basis?
Anything that changes what the supplier has to do or prove. A tighter dimensional tolerance, a named condition requirement with its inspection basis, a third-party inspection, extra test elements on the certificate, specific marking or bundling, or a delivery window that constrains the shipping plan can all move a price without the grade changing. Where you are relying on any of them, state them in the enquiry so every supplier is quoting the same scope.
Send the specification and the terms, and the offer comes back on a stated basis
Include the grade with its defining standard, the section and length, the quantity with its unit, delivery to a named place on a stated Incoterm 2020 rule, freight and insurance inclusion, the document set and the timing you need. Price on request — no figure is published here.
Or send the enquiry directly to sales@noordeirasteel.ae. No price, stock position or lead time is published.
What to attach
- Grade, with the standard that defines it
- Section, length and tolerance basis
- Quantity with its unit and basis
- Named place and Incoterm 2020 rule
- Freight and insurance inclusion
- Payment terms you are working to
- The document set the destination requires
Commercial department
- Mobile
- +971 56 398 0860
- Office
- Office 1015, Churchill Executive Tower, Business Bay, Dubai, United Arab Emirates
- Hours
- Monday – Saturday: 8.00 AM – 6.00 PM · Sunday: Closed
Reference method
The normalization checklist, in full
Sixteen fields, in the order they appear on a written quotation. Work down it for each offer and the two bases can be laid side by side.
Quote reference
Your own identifier, so the record can be matched back to the document.
Date quoted
The date the price was given. Without it, nothing can be compared.
Validity period
How long the offer stands, and whether it has lapsed.
Grade and specification
The designation together with the standard that defines it.
Section and length
Nominal geometry, and the tolerance basis it is held to.
Quantity and basis
Tonnage, its unit, and whether it is per shipment or per programme.
Currency
Which currency the figure is given in. No conversion is applied.
Price unit
Per tonne, per piece or per lot — the unit the figure is expressed in.
Origin or supply basis
Where the material comes from, and whether direct from a mill or through a trader.
Incoterm 2020 rule
The delivery rule. It decides which costs sit inside the figure.
Named place
The port, terminal or inland place the rule applies to.
Freight and insurance
Whether each is inside the figure, excluded, or not stated.
Payment terms
The instrument and its timing, which carry financial cost behind the number.
Documents included
Which certificates and shipping documents the price covers.
Testing and inspection
Which tests are performed, and whether third-party inspection is included.
Delivery timing
The window the supplier is working to, and whether it matches your programme.
How to apply it. Complete the list separately for each quotation before comparing anything. Fields that match are held constant; fields that differ are the reconciliation work; fields not stated on both sides mean there is nothing to compare there yet. Where the two lists diverge on delivery terms, gather the landed-cost inputs rather than adjusting one number toward the other.
Worked examples
The same comparisons as a working sheet
Each pair shown field by field, as it would appear in the comparison table, with the verdict that set of fields produces.
Comparison A — delivery terms differ
| Field | Quote A | Quote B | Status |
|---|---|---|---|
| Grade / specification | 5SP, standard named | 5SP, standard named | match |
| Section and length | 150 × 150 mm × 12 m | 150 × 150 mm × 12 m | match |
| Quantity | 5,000 t per shipment | 5,000 t per shipment | match |
| Currency | USD | USD | match |
| Price unit | Per metric tonne | Per metric tonne | match |
| Incoterm | FOB — Free On Board | CIF — Cost, Insurance and Freight | differ |
| Freight inclusion | Freight excluded | Freight included to the named place | differ |
Verdict. Ten fields match, two differ. The tool reports the pair as not directly comparable. The difference measures freight and insurance, not commercial advantage — so the two headline figures should not be ranked against each other until both are re-quoted on the same rule and place.
Comparison B — basis identical, both out of date
| Field | Quote A | Quote B | Status |
|---|---|---|---|
| Grade / specification | Matches | Matches | match |
| Section and length | Matches | Matches | match |
| Quantity | Matches | Matches | match |
| Currency | USD | USD | match |
| Incoterm | FOB — Free On Board | FOB — Free On Board | match |
| Named place | Jebel Ali | Jebel Ali | match |
| Date quoted | 21 days ago | 120 days ago | differ |
Verdict. Every commercial field matches, so the comparison reports a common basis. The age check runs separately and flags the second quote as historical — over three months old — while the first has already passed its stated validity. A perfect basis on an expired figure is still an expired figure, and both need re-confirmation.
Comparison C — a place with no rule
| Field | Quote A | Quote B | Status |
|---|---|---|---|
| Grade / specification | Matches | Matches | match |
| Section and length | Matches | Matches | match |
| Incoterm | FOB — Free On Board | Not stated | incomplete |
| Named place | Jebel Ali | Jebel Ali | match |
| Freight inclusion | Freight excluded | Not stated | incomplete |
| Payment terms | LC at sight | Not stated | incomplete |
Verdict. The required set fails on the second quote, so no comparability verdict is issued. Three fields are unstated, and two warnings fire: a named place without a rule, and freight inclusion not stated. The buyer goes back for the terms rather than assuming which applied.
Reference
Take the comparison method with you
The sixteen fields and the boundary note, in a form you can put into a spreadsheet or send to a colleague alongside the quotations.
Billet quote comparison — working sheet
- 01List the sixteen fields down the left of a sheet, one row each.
- 02Add two columns, one for each quotation you are comparing.
- 03Complete both columns before comparing anything — a half-filled pair invites a false read.
- 04Mark each row as matching, differing, or not stated on both sides.
- 05Check the date on both. An aged or expired figure needs re-confirmation before it is used.
- 06Where delivery terms differ, gather the landed-cost inputs rather than adjusting either number.
- 07Where a term is unstated, go back for it rather than assuming which one applied.
- 08Record the comparison with its date, so the basis can be checked later.
The boundary, in one sentence
A billet price is a commercial position carrying a specification, a delivery basis and a date; it becomes comparable only when another quote carries the same three on identical terms.
Send us your comparison
Share the specification and the terms you need, and the commercial department can return an offer written on a stated basis rather than a headline figure with terms to be settled later.
Or send it to sales@noordeirasteel.ae.