Posted on 03 Jan 2025
According to a service center, a Philippine coated mill was completed in September last year. Among Asian countries, the Philippines is not a country that mainly develops the steel industry. In addition, it is further understood that the mill is a Chinese-funded enterprise.
In order to disperse export risks caused by trade barriers, Chinese steel mills are actively deploying overseas production bases. Therefore, if the overseas investment of Chinese mills gradually shifts from blast furnace steel mills to re-rolling mills, it may cause more intense market competition.
Market participants mentioned that based on current offers by Chinese mills, they believed that the Philippine coated mill owned by Chinese investors should also be competitive in terms of production costs and sales.
Source:Yieh
