Global Steel’s hot, cold rolled coil lines start commercial operation

Global Steel Philippines announced yesterday that its hot rolled coil (HRC) and cold rolled coil (CRC) lines are now fully operational.

Global Steel corporate head Sangram Mohanty said the steel firm is prioritizing CRC production in response to local demand. "Production is focused on CRC lines in view of domestic market requirements," Mohanty said.

He assured though that "the HRC line has been commissioned and its production capacity has already been established internally."

The Tariff and Related Matters (TRM) Committee last year had told Global Steel that it would only apply the approved increase in tariff rates on hot and cold rolled coils once the Global Steel, formerly National Steel Corp., becomes commercially operational.

The TRM would raise the tariff rate on HRC and CRC to seven percent while maintaining the zero percent tariff rate on tinplates.

The new rates were supposed to be effective by June this year, the original target date set by Global Steel for its full commercial operation.

Global Steel, however, has repeatedly claimed that it is already commercially operating after undergoing rehabilitation since February last year.

TRM sources said that they would not merely take Global Steel’s word about its commercial operation, but would send a technically competent team to verify if indeed the Indian-owned steel firm is already commercially operating.