Philippines Billet Imports Increase 122% in Jan-Jul'18

Billet imports to Philippines reported a sharp gain of 122% in the first 7 months of 2018, as per the recently released data by Philippines custom.

The nation has imported about 1,887,062 MT Billet in Jan-Jul’18 against 850,815 MT in Jan-Jul’17, surge by 121.79% on yearly premises. During this period (Jan-Jul’18), Russia has exported approximately 45.23% billet (853,484 MT) to the nation. Prior to this, in CY17 the country’s billet import was around 2,121,748 MT & major imports were done from Russia ( around 35%), Vietnam (21.80%) & India (9.68%)

Further, on Y-o-Y in July 2018 imports registered a gain more than 230% & stood at 242,879 MT against 72,452 MT in July 2017.

While on month basis, imports decline by 21.3% in Jul’18 against 308,429 in Jun’18. And the largest exporter of Billet to Philippines was Russia - 148,491 MT, followed by Saudi Arabia (30,191 MT), Vietnam (26,603 MT), Thailand (12,936 MT) & Taiwan (10,328 MT).

-- In context to export prices, the export offers of 150*150 IS 2830 grade billet are currently at USD 490-500/MT FoB India, 150*150 Q235 are at USD 525-535/MT FoB China & 125*125 3sp at USD 470-480/MT FoB Ukraine.

-- Sources reported - last week, Australian billet was offered at USD 535-540/MT CFR Manila. And added Turkish billet offers at USD 530-535/MT on CFR basis in Philippines & Indonesia

-- Last week, Thailand based billet offered to Philippines at USD 535/MT CFR Manila - Sources