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

Published: May 27, 2026 19:08

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[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.

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