According to the Philippines' National Statistics Office, the country's iron and steel import value has increased by 38.6% YoY in October 2011 as compared to the same month last year.

Fifth in the rank of country's leading imports in October 2011, the Philippines's iron and steel imports, which have a 2.6% share of total national imports, amounted to a value of USD 132.89 million.

Meanwhile, the production volume index for total manufacturing in the Philippines dropped by 6.3% YoY in October 2011, especially due to the poor production performance of major sectors including basic metals and fabricated metal products.

In October 2011, basic metals production in the Philippines dropped by 36.6% YoY and was down by 12% MoM, while fabricated metal products output fell by 8.5% YoY and was down by 11.1% MoM.

(Sourced from SteelOrbis)
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