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Bar stock, also (colloquially) known as blank, slug or billet, is a common form of raw purified metal, used by industry to manufacture metal parts and products. Bar stock is available in a variety of extrusion shapes and lengths. The most common shapes are round (circular cross-section), rectangular, square and hexagonal or hex. A bar is characterised by an "enclosed invariant convex cross-section", meaning that pipes, angle stock and objects with varying diameter are not considered bar stock.
Bar stock is commonly processed by a sequence of sawing, turning, milling, drilling and grinding to produce a final product, often vastly different from the original stock. In some cases, the process is partially automated by specialized equipment which feeds the stock into the appropriate processing machine.

Source: Wikipedia