Global Steel to export to Brazil

Global Steel Philippines (SPV-AMC) Inc. announced yesterday that it  is shipping over 16,000 metric tons of cold rolled coils (CRC) and hot rolled coils (HRC) to Brazil for the first time.

According to Lalit K. Sehgal, Global Steel managing director, some 9,000 metric tons of CRC and 7,000 metric tons of HRC are currently being loaded on  MV Sea Brilliance for immediate shipment to Brazil . 

Sehgal said that Global Steel’s exports to various markets worldwide including Indonesia, Italy, India, Korea, Malaysia, Thailand, Turkey, Vietnam, Dubai and now Brazil, are proof that Global Steel products are rapidly gaining worldwide acceptance.

Sehgal attributes the increasing market confidence to the company’s quality production standards, competitive pricing and use of state-of-the-art technology.

Commenting on the current market scenario, company spokesman Sangram Mohanty said steel demand is picking up in the US, Europe and ASEAN countries, resulting in an improvement of prices ranging from $20 to $40 per metric ton, which would yield better results for the company.

Due to rising demand for Global Steel products both in the domestic and overseas market, the Iligan plant is poised to step up production capacity for the current year.