TKC Steel to export steel billets to ME

TKC Steel Corp., through its subsidiary Treasure Steelworks Corp., will export steel billets to the Middle East this year, the company’s top executive said.

“With world steel prices at their highest levels, the opportunity presented itself for the company to take advantage of opening new markets for Philippine steel billets and realize substantial gains from the situation,” said Anthony Dizon, president of TKC Steel.

Dizon noted it will mark the first time in a long while that Philippine-made steel billets will be exported overseas.

The initial shipment of 10,000 metric tons of five SPPS grade will be delivered to Saudi Arabia by the end of this month.

Dizon said the steel billets will be manufactured in Treasure Steelworks, plant in Iligan City.

He said the deal was a good opportunity for TKC Steel especially since he expects monthly delivery for other Middle Eastern buyers.

Dizon revealed that TKC is currently negotiating with other foreign buyers, with a monthly shipment of about 10,000 to 20,000 metric tons.

Dizon said they are looking to expand their market especially since their company has increased its capacity following the upgrading and modernization program of its two facilities in Xiamen, China, namely Treasure Steelworks and ZZ Stronghold Steel.

TKC Steel is the only steel manufacturing company listed at the Philippine Stock Exchange.

It has controlling equity interest in Treasure Steelworks Corp. which operates the largest billet-making plant in the country. It likewise owns Zhang Zhou Stronghold Steel Works Co. Ltd., a manufacturer of steel pipes in Fujian, China.