Philippines Billet Imports Decline in July 2019

As per recent data released by Philippines customs it is observed that the billet Imports fall by 23.3% in Jul'19 on monthly basis.

The nation has imported about 169,351 MT Billet in Jul'19 against 220,875 MT in Jun'19. On yearly basis in Jul'19, imports registered a fall of 30.3% against 242,879 MT in Jul'18.

Russia stood as key exporter of Billet to the Philippines with a contribution of 92.88% i.e. at 157,296 MT followed by Vietnam at 12,012 MT. Inline, it was also noticed that billet imports from Vietnam decreased by more than 60.71% M-o-M. Furthermore no major imports reported from Malaysia, Thailand, India & Japan.

While in the first 7 months of CY19 (Jan-Jul), billet imports fall by 11.32% Y-o-Y & stood at 1,673,416 MT against same preceding last year at 1,887,064 MT.

During 2019 (Jan-Jul), Russia (53.82%) remains the largest exporter of billet to Philippines, followed by Malaysia (14.34%), Vietnam (12.38%) & Thailand (4.20%).

In context to export prices, the export offers of 150*150 IS 2830 grade billet were at USD 375-385/MT FoB India, 125*125 3SP at USD 355-360/MT FoB Ukraine & 150*150 Q235 is at USD 470-480/MT FoB China.