FILE PHOTO: Through its Davao mill, SteelAsia Manufacturing Corporation shipped 14,200 metric tons of high-strength steel bars worth $8.8 million (P511.24 million) to Canada on October 2024. This is the first time the company’s 600-thousand-ton-per-year Davao mill—or for any steel mill in Mindanao—to export steel products.
MANILA, Philippines — One of the country’s biggest producers of steel products, SteelAsia Manufacturing Corporation, said it had shipped out its largest shipment to date, marking a new milestone for the company with its $19 million (P1.1 billion) export last month.
In a statement, SteelAsia said it’s 32,000 metric ton of high-strength reinforcing steel shipped out last January 30 from its Davao City plant to Canada.
The company said it will be used for a subway project in the city of Vancouver.
“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,” SteelAsia Chairman and chief executive officer Benjamin Yao said over the weekend.
“Locally, it is the same for us since the top developers are our biggest loyal customers,” he added.
In October last year, the company also shipped $8.8 million (P511.24 million) worth of high-strength steel bars to Canada, which marked its seventh shipment to its inaugural first-world market.
The previous six shipments were from the firm’s steel mill in Batangas, totaling more than 41,400 metric tons and are worth P1.58 billion.
To date, SteelAsia has exported a total 87,000 metric tons with an approximate value of P3.2 billion for the same Canadian subway project.
The company added that it currently operates 4 steel mills in various locations across the country and constructing a green steel H beam plant in Lemery Batangas. It is also in the process of developing a site for a second green steel H beam plant worth P30 billion Candelaria, Quezon.