Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Philippines’ billet increased by 41pc to reach 230,241mt in April from the prior year period, according to Philippines customs data. Imports in April 2021 grew by 21pc as compared to the previous month. 


In the Jan-April period, billet imports have decreased by 18pc to 933,471mt from 113,549mt in the prior-year period.  


Philippines importers increased billet bookings in March-April as the construction activities picked up gradually after a decline in COVID-19 cases. Mills preferred to book material from Russia and India. ASEAN countries found an advantage in exporting to China with no import taxes. A rise in demand in China kept prices firm.  


Russia, India, and Vietnam were the top billet exporters to the Philippines in April. Billet imports from Russia, India, and Indonesia increased by 89pc, 100pc, and 100pc, respectively, from a year ago. Imports from Vietnam and Japan decreased by 59pc and 67pc, respectively, in the month.


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