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Philippines COUNTRY REPORT

2012 SEAISI Economic, Environmental & Safety Seminar Nov. 27-28, 2012 • Bangkok, Thailand. Philippines COUNTRY REPORT. Presented by: JOEL T. RONQUILLO Philippine Iron and Steel Institute (PISI). ECONOMIC UPDATES:.

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Philippines COUNTRY REPORT

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  1. 2012 SEAISI Economic, Environmental & Safety Seminar Nov. 27-28, 2012 • Bangkok, Thailand PhilippinesCOUNTRY REPORT Presented by: JOEL T. RONQUILLO Philippine Iron and Steel Institute (PISI)

  2. ECONOMIC UPDATES: • The Philippines apparent steel consumption reached 5.1 million MT in 2011, a 24% growth compared to 4.1 million MT in 2010. • One of the key economic trends is that the GDP posted a 3.7% growth in 2011. • The Philippine government forecast is for GDP to grow to 5-6% in 2012.

  3. GDP Growth by Sector, 2009-2011* * Revised figures from National Economic Development Authority

  4. Performance of the Steel Industry in 2011 Apparent steel consumption reached 5.1 million MT in 2011, growing by 24% compared to 4.1 million MT in 2010. .

  5. Key Developments in 2011 • STEEL DEMAND • Decreased government spending on infrastructure • Recovery in the real estate sector • STEEL SUPPLY • Significant increase in local billet production • Continuing shutdown of Global Steel (formerly National Steel Corp.) • Continuing displacement of locally manufactured light sections, GI/PPGI sheets, CRC, HRC & pipes by imports

  6. Comparative Steel Demand 2010 2011 Construction Construction Light & Heavy Fabrication Light & Heavy Fabrication Others Packaging Others Packaging

  7. Summary of Key Steel Statistics *2010 figures adjusted based in updated import statistics of tin products

  8. Apparent Consumption:SEMI-FINISHED STEEL Sources: Bureau of Customs (BOC), Department of Trade and Industry (DTI) and Industry Sources

  9. Apparent Steel Consumption: Sources: Bureau of Customs (BOC), Department of Trade and Industry (DTI) and Industry Sources 1 Covers hot rolled products only in order to avoid double counting 2 Excludes bar products converted from wire rods

  10. Breakdown of Finished Steel Production in MT (2011 vs. 2010) Source: Industry Sources 1 Includes bar products converted from wire rods * 2010 figures revised using new industry data

  11. Breakdown of Finished Steel Imports in MT (2011 vs. 2010) Sources: Bureau of Customs (BOC), Department of Trade and Industry (DTI) and Industry Sources * 2010 figures updated from BOC and Industry sources

  12. Breakdown of Finished Steel Exports in MT (2011 vs. 2010) Source: National Statistics Office and Industry Sources

  13. Philippine Economic Outlook for 2012 • Government forecast is for GDP to grow to 5-6% in 2012 • However, there are downside risks arising from: • High power costs and supply constraints • Higher inflation due to increasing food and fuel prices • Volatility of international capital flows • High levels of government deficit / debt burden • The challenge to the Philippines – • Revenues: Increase tax effort, mainly from compliance boost • Infrastructure:Massive catch-up program needed • Investments:Now exceeded by savings; confidence boost needed

  14. Steel Outlook for 2012 • Steel demand to benefit from – • A generally optimistic macroeconomic outlook • International credit ratings upgrades • A vibrant real estate sector that is supported by sustained OFW remittances and an improved confidence in the property industry • Increased government-private sector program on infrastructure development • More than 3 million units backlog from housing development • New hotel and other tourism developments • The steel supply situation in 2012 – • More production of billets • Expected increase in imports of finished steel products due to zeroing of tariffs under FTAs with China and Korea

  15. Steel Projects

  16. ENVIRONMENTAL UPDATES: • A proposed DENR Administrative Order (DAO) establishing the National Ambient Air Quality Guideline Values for PM2.5. • Creation of Executive Order No. 11 - An Executive Order creating the Climate Change and Greenhouse Gas Management Council in the City of Pasig. • Proposed DAO revising DAO 2004-36 (Procedural Manual on Hazardous Waste Management)

  17. Thank You for your attention!

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