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SteelAsia Davao’s rebar shipment to Canada is a first for Mindanao steel exports
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The Davao mill shipped 14,200 metric tons of high-strength steel bars worth $8.8 million last month
SteelAsia Manufacturing Corp through its Davao mill shipped 14,200 metric tons of high-strength steel bars valued at $8.8 million (P511.24 million) last month, a first for Mindanao steel exports.
Although the shipment was the seventh export of rebars to Canada, it was a first for SteelAsia’s Davao mill.
READ: SteelAsia steel bars break into Canadian market
It was the first time for any steel mill in Mindanao to export steel products. The company’s Davao mill has an annual capacity of 600,000 tons
Benjamin Yao, SteelAsia chairman and CEO, in a statement said breaking into First World markets like Canada was a huge milestone for the Philippine steel industry.
He said: “This is proof that (the) Philippine steel industry can meet the highest quality and performance standards in the world.”
Yao added that their investment in cutting edge steelmaking technology paves the way “to grow at last a mother industry for the country’s manufacturing sector.”
SteelAsia’s previous six shipments came from the company’s Batangas mill, totaling more than 41,400 metric tons (MT) valued at $27.32 million (P1.58 billion). With the latest shipment, the overall delivery to Canada has exceeded 55,600 MT worth $36.12 million (P2.1 billion).
Succeeding rebar shipments from SteelAsia’s Davao Works is seen to exceed what the company’s Calaca mill has already delivered, with an additional order of more than 30,000 MT worth some P1.2 billion.
The combined total of SteelAsia’s five rebar mills makes it one of the largest rebar manufacturers in Southeast Asia.
During the inauguration of the company’s Compostella Cebu mill last July, President Ferdinand Marcos Jr. noted that more than 70% of all infrastructure, housing, power, industrial, and other office developments in the Philippines use SteelAsia rebar.
“It signifies the company’s indispensable role in our socio-economic transformation,” Marcos said.
