PH’s lone steel bar exporter ships largest volume to date

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SteelAsia Manufacturing Corp. said it shipped out last January 30 some 32,000 metric tons of high-strength reinforcing steel to Vancouver Canada, representing the country’s largest steel export to date.

In a statement on Saturday, February 1, SteelAsia said the shipment had a value of more than $19 million or P1.1 billion.

This brings the total exports of the company to 87,000 MT with an approximate value of P3.2 billion, all for the same Canadian subway project, SteelAsia said.

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The company said the steel products were made from its Davao City plant.

“We have repeat orders from the same buyer and project, a vote of confidence in our reliability as a supplier and in the quality of our products. Locally, it is the same for us since the top developers are our biggest loyal customers,” said SteelAsia chairman and chief executive officer Benjamin Yao.

Yao did not identify the client.

Ronald Magsajo, SteelAsia assistant vice president said in an interview on Sunday, February 2, said this represents company’ s eighth shipment to Canada, the last being in November 2024 when it exported 14,200 MT of high-strength steel bars worth $8.8 million to the same client. 

Magsajo said SteelAsia started exporting to Canada in 2019.

“We were told by international traders that the import markets continue to look to SteelAsia for high strength rebar. We are a competitive choice because the value add we embed into the product lowers the installed cost for builders,” Magsajo said, without elaborating 

The previous six shipments came from SteelAsia’s mill in Batangas and totalled more than 41,400 MT worth P1.58 billion, SteelAsia’s website said.

SteelAsia operates four steel mills located across the archipelago.  

It is currently constructing a green steel H beam plant in Lemery Batangas, and will begin site development in Candelaria for a second green steel H beam plant worth P30 billion. 

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