Billet imports in Philippines reported a sharp gain of 118%, more than double in the first 8 months of 2018, as per the recent data released by Philippines custom.
The nation has imported about 2,217,293 MT Billet in Jan-Aug’18 against 1,014,783 MT in Jan-Aug’17, surge by 118.50% on yearly premises. During this period (Jan-May’18), Russia has exported approximately 46% billet (1,023,520 MT) to the nation. Prior to this, in CY17 (Jan-Aug) the country’s billet import from Russia was around 401,278 MT.
Further, on Y-o-Y in August 2018 imports registered a gain of more than 100% & stood at 330,213 MT as against 163,968 MT in August 2017.
While on month basis, imports inclined by 36% in Aug’18 against 242,879 MT in Jul’18. And the largest exporter of Billet to Philippines was Russia – 170,036 MT, followed by Vietnam (78,698 MT) & South Korea (55,809 MT).
Similarly, in the total billet imports during 2018 (Jan-May), the major sellers of billet to Philippines was – Russia, in line Saudi Arabia (9.62%), Vietnam (7.08%), Japan (4.67%), Thailand (4.63%) & Qatar (4.58%).
— In context to export prices, the export offers of 150*150 IS 2830 grade billet are currently at USD 455-465/MT FoB India, 150*150 Q235 are at USD 520-525/MT FoB China & 125*125 3sp at USD 450-460/MT FoB Ukraine.
— Sources reported – last week, around 20,000 MT billet sold to Philippines from the CIS at round USD 508/MT on CFR basis.
— Billet offers from Turkey & Kuwait for the nation are reported at around USD 505-510/MT CFR Philippines – Sources
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