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    Mar 13, 2018  MANILA -- The country’s largest steel producer, Steel Asia Manufacturing Corp., is investing USD500 million, or about PHP25 billion, for three integrated steel facilities in Luzon and Visayas. In a media briefing Tuesday, Steel Asia Chairman and Chief Executive Officer Benjamin Yao said the investment is part of the PHP80-billion expansion plan of the company in a span of six years

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    He told “After rising just 2% in 2017 due to high prices, Philippines steel consumption jumped about 9% in 2018 to a record 10.5 million tonnes, driven by public and private construction projects.

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    Cola said the country's heavy dependence on steel imports would drop significantly if the Philippines' first integrated steel complex -- a $4.4 billion project by China's second-biggest steelmaker, HBIS Group, and three other parties including Steel Asia -- begins production.

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    The steel industry in the Philippines is different from those in other countries in the region, many of which are either fragmented or have an oligopoly of big global players. In the steel bar sector, there has been consolidation through the shakeout of small uncompetitive steel bar mills with obsolete technology.

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    In 1994, a project to establish the Philippines’ first state-of-the-art steel bar rolling mill was underway. Driving the endeavor, the SteelAsia Manufacturing Corporation had envisioned a facility that would truly be a national asset; world class steel products and services would lower the cost of construction, and help spur economic growth.

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    3. Future investment projects in the global steel industry As noted above, the global steel industry’s steelmaking capacity has increased rapidly over the past decade. Further capacity additions around the world should have significant impacts on raw material demand and,

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    The rapid development of the Philippines and continuous growth of the Southeast Asian region has resulted in higher demand for iron and steel products domestically and regionally. The Philippine economy has been performing beyond expectations over the past years, growing from 5.1% in 2011 to 6.8% in 2012, and to 7.2% in 2013.

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    Jan 23, 2019  Structural steel prices can vary widely, even just from one day to the next. Considering that major construction projects take months to years to complete, failure to account for potential fluctuations across the proposed time span of the project can throw your budget and the entire project

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    Lopez earlier briefed Duterte on the intention of Hebei Steel of China (HBIS) to partner with SteelAsia in setting up a $4.5-billion integrated iron and steel production facility in the Philippines.

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