Restoring Philippines Infrastructure Will Boost Steel Growth

The Philippine Minister of Metallurgy assured that it is planned to continue the growth phase this year due to domestic production and imports, thanks to the development of infrastructure, the implementation of construction industrial and residential projects.

Earlier this month, the Philippines Investor Council announced that demand for steel products would be boosted significantly by major infrastructure projects and a reconstruction program for the affected area during the earthquake and typhoon. Redevelopment of urban centers in the country is also planned. Orders have already been received for large supplies of domestically produced sections, molds and fittings, as well as coated steel products and steel billets.

It is reported that the consumption of steel in the country has already increased by about 9.2 percent to 6,580,000 tons, and earlier in 2013 it was about 6,030,000 tons. The increase in steel consumption is associated with the creation of real estate objects and a high level of investment in infrastructure by the government.

Of the total demand for steel, about 81 percent falls on the construction sector and 9 percent on the manufacture of goods of light and heavy industry, 5 percent of the total is directed to shipbuilding.

Now the growth of ferrous metallurgy depends to a large extent on expensive government projects and tariffs on imported metal products. Demand will increase to about 20 million tonnes by 2030, moving up to 130 kg per capita consumption, up from 50 kg consumption last year. achievements.

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