The steel which is made freshly, and is still in the form of a rectangle or a metal bar, is referred to as steel billet. Steel has to be processed into more useful pieces first, before its products get sold into the market. In its pure form, raw steel will not be of any use, so it must be cast into the shape.

What is difference between ingot and billet?

Ingots are typically used to produce sheet metal, wire, tubing, and large components for machinery, while billets are used to produce smaller components such as gears, shafts, and axles. In terms of manufacturing, ingots are usually created through casting, while billets are created through extrusion.