As per recent data released by Philippines customs it is observed that the billet Imports plunged by 40.13% in Oct’18 on monthly basis.
The nation has imported about 206,148 MT Billet in Oct’18 against 344,308 MT in Sep’18. During the month of Oct’18, Russia has exported approximately 57% billet (117,434 MT) to the nation, which was decline by 24% M-o-M as against 155,432 MT in Sep’18.
Further, Billet imports from the major countries like Vietnam, Japan & Thailand decline by 78%, 34% & 61% on monthly basis in October. Inline, it was also come in line that no major Billet import were recorded from Saudi Arabia, Taiwan & South Korea.
On Yearly basis in Oct’18, imports registered a fall of 50% against 414,400 MT in Oct’17. While in the first 10 months of CY18 (Jan-Oct), billet imports up by 58.39% Y-o-Y & stood at 2,767,749 MT against same preceding last year at 1,747,422 MT.
During 2018 (Jan-Oct), Russia (46.84%) remains the largest exporter of billet to Philippines, followed by Vietnam (10.21%), Saudi Arabia (7.71%), India (5.07%) & Japan (4.87%)
— As per sources, last week Malaysian cargoes were offered for Philippines (Manila) at USD 460-480/MT on CFR basis.
— In context to export prices, the export offers of 150*150 IS 2830 grade billet were at USD 425-435/MT FoB India, 125*125 3SP at USD 410-420/MT FoB Ukraine & 150*150 Q235 are at USD 440-450/MT FoB China.
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