Philippines has no flat steel production. However, demand registered a positive growth rate of 2% y-o-y to 1.8 million tonnes in the first half of 2022. The only source of flat steel demand in the country comes from import. Import of hot rolled plate jumped 10 times from 10,425 tonnes in the first half of 2021 to 111,793 tonnes in the same period of 2022. This is mainly due to a significant expansion in ship building sector. Import of hot rolled coil, on the hand, declined 19% y-o-y to 244,446 tonnes.
Source: SEAISA
|
