SteelAsia targets to export P1.2B worth of steel bars early next year

STEEL MANUFACTURER SteelAsia Manufacturing Corp. expects to ship P1.2 billion worth of steel bars to Canada in early 2025, following the completion of its seventh export of rebar a few days ago, the company said on Tuesday.

The company’s latest shipment, which was sourced from its Davao mill, comprises 30,000 metric tons of steel bars worth P511.24 million, the company said in a statement.

According to the company, its next shipment set for early next year will also be sourced from its plant in Davao.

The manufacturer’s previous six shipments, totaling 41,400 metric tons worth P1.58 billion, came from its Batangas mill and are used for Canadian infrastructure projects.

SteelAsia currently operates five facilities in Batangas, Bulacan, Davao, and Cebu, which supply over 70% of all rebar used in infrastructure, housing, power, industrial, and other business developments in the Philippines. — Justine Irish D. Tabile