It sounds like these cam makers are doing some creative marketing.
Definition of the word "billet":
Billet refers to a cast semi finished product. It is also referred to as ingot, particularly for smaller sizes. A billet is typically cast to a rectangular, hexagonal or round cross section compatible with secondary processing, e.g. forging or milling. It can be produced either as coil or cut lengths. Ingots and billets are collectively known as bar stock.
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