IRON and STEEL
Billet imports to Philippines reported a sharp gain of 92.16% in the first 9 months of 2018, as per the recently released data by Philippines custom.
The nation has imported about 2,561,601 MT Billet in Jan-Sep’18 against 1,333,022 MT in Jan-Sep’17. During this period (Jan-Sep’18), Russia has exported approximately 46.02% billet (1,178,952 MT) to the nation. Prior to this, in CY17(Jan-Sep) the country’s billet import was around 1,333,021 MT & major imports were done from Russia at around 451,450 MT (34%).
Further, on Y-o-Y in September 2018 imports registered a gain by 8.19% & stood at 344,308 MT against 318,239 MT in September 2017.
On monthly basis, imports incline by 4.26% in Sep’18 against 330,231 MT in Aug’18. And the largest exporter of Billet to Philippines was Russia - 155,432 MT, followed by Vietnam (103,201 MT), India (20,174 MT) & Japan (18,775 MT).
-- In context to export prices, the export offers of 150*150 IS 2830 grade billet are currently at USD 450-455/MT FoB India, 150*150 Q235 are at USD 460-480/MT FoB China & 125*125 3sp at USD 445-455/MT FoB Ukraine.
-- Sources reported Last week- Russian billet offers at around USD 495/MT & offers from Vietnam at USD 500-510/MT. All prices are on CFR basis, Manila.
-- Last week, Malaysia based billet offered & deals concluded to Philippines at USD 495/MT CFR - Sources