The Philippines will see steel demand growth slow this year, but it will remain a very healthy 7-8%, according to the Philippine Iron and Steel Institute. Infrastructure and housing should drive steel demand, and steel imports, Kallanish notes.

Philippine steel demand hit 8.8 million tonnes in 2015, up 20% from 2014, according to PISI. That would leave 2016 demand at around 9.4-9.5mt. “The Philippines has a robust construction sector, making it a good market for steel makers and importers. This year, the industry is again set to grow on account of construction activities in the country,” PISI president Roberto Cola told the Manilla Times.

The Philippines supplied around 30% of the 4.8mt of rebar it consumed in 2015, with the rest, and all flat product demand, imported. Some of the rebar is also re-rolled from imported billet.

China exported 5.53mt of steel to the Philippines in 2015, up 16.63% y-o-y. It will be hoping to beat that record again in 2016.