[SMM Steel] Philippine Steel Demand Expected to Hit Record High in 2027

Published: May 27, 2026 19:08 (GMT+8)

Save

[SMM Steel] The Philippine Iron and Steel Institute expects the country’s steel demand to reach a record 11.1 million mt in 2027, up around 6%, supported by accelerated infrastructure construction ahead of the 2028 national election. The institute said steel consumption in 2026 is likely to remain similar to 2025 levels as stricter government project audits continue to slow construction activity. Despite weaker global steel demand, Philippine steel mills were reportedly not facing major supply disruptions.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

32 mins ago

[SMM Steel Import & Export Analysis] September export orders improved; will steel exports continue to rise in October?

32 mins ago

41 mins ago

Norway to reuse steel from decommissioned ships in construction to cut emissions

Norway's Enova will grant up to 25.54 million USD to Nordic Circles and Alsaker Stål to reuse steel from decommissioned ships in new buildings. The funds back a circular steel value chain in Norway covering recovery, cleaning, quality assurance and recertification of ship steel. Alsaker Stål, part of Tertnes Holding, will invest up to 54.44 million USD. AI planning tools, automation and new cutting and cleaning technologies aim to make reused ship steel competitive with new steel. Steel production accounts for up to 25% of a building's emissions, while reuse removes almost all emissions of new steel. About 10 million tonnes of European ship steel is scrapped yearly, mostly in Asia; reuse could cut European steelmaking emissions by up to 17 million tonnes of CO2 a year.

41 mins ago

1 hour ago

[PBOC: To conduct 700 billion yuan outright reverse repo operation on October 15 with a tenor of 6 months]

The PBOC issued a public market outright reverse repo tender announcement stating that, to maintain ample liquidity in the banking system, on October 15, 2026, the People's Bank of China will conduct a 700 billion yuan outright reverse repo operation through fixed quantity, interest rate tender, and multiple price bidding, with a tenor of 6 months (182 days) and a maturity date of April 15, 2027 (postponed in case of holidays).

1 hour ago