As per recent data released by Philippines customs it is observed that the billet Imports plunged down by 30% M-o-M & 12.50% on yearly basis in Jul’17.
The nation has imported about 70,000 MT Billet in July 2017 against 100,000 MT in June 2017, decline by 30% on monthly premises. During Jul’17, Vietnam has exported approximately 70% billet (50,000 MT) to the nation.
Further, on Y-o-Y in July 2017 imports registered a decline of 12.50% against 80,000 MT in July 2016. In line, on yearly basis, in first 7 months of CY 2017 (Jan-Jul), the imports up by 25% to 850,000 MT against same preceding last year at 680,000 MT.
Prior to this, in CY16 (Jan-Dec) the country’s billet import was around 100,000 MT & major imports were done from China
Country wise:
During July 2017, the largest exporter of Billet to Philippines was Vietnam – 50,000 MT, Russia – 10,000 MT & Japan at 10,000 MT.
Similarly, in the total billet imports during 2017 (Jan-Jul’17), the major sellers of billet to Philippines was – Russia 350,000 MT (41.45%), Vietnam 220,000 MT (25.50%), Thailand 90,000 MT (10.33%), Japan 70,000 MT (8.58%) & China 60,000 MnT (7.50%).
In context to export prices, the export offers of 150*150 IS 2830 grade billet are currently at USD 450-460/MT FoB India & 150*150, Q235 are at USD 530-540/MT FoB China.
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