Philippines’ billet imports dropped by 72pc to 40,958mt in May from 147,386mt in the prior-year period, according to the country’s customs data. Imports in May dropped by 82pc to 40,958mt from 230,241mt in the previous month.
Russia, India and Vietnam continued to be the top billet exporters to the Philippines in May. Billet imports from Russia dropped by 46pc to 23,867mt as compared to 44,484mt last year and by 79pc from 114,702mt as compared to the previous month. India, however, stayed away from billet exports to Philippines last year amid a stringent lockdown in the supplier country to control the spread of COVID-19 pandemic. Billet imports from India dropped by 67pc to 11,608mt this month as compared to 35,507mt in April.
Imports from Vietnam dropped by 13pc to 6,230mt from the previous year and by 83pc to 5,446mt from 31,998mt in April.