The 2026 Philippine Iron and Steel Industry Roadmap calls for raising apparent steel consumption to 21.4 MMT by 2040 under a “business as usual (BAU) scenario,” from 9.9 MMT in 2024. PISI also targets finished steel production of 7.1 MMT and 25 MMT by 2040 under the BAU and ASEAN scenarios, respectively. It also expects finished long steel produced of 4.2 MMT under a BAU scenario and 15 MMT under an ASEAN scenario, from 3.9 MMT produced in 2024. PISI formally turned over its 2040 roadmap to the Board of Investments (BoI) on July 15. “Together, the two roadmaps provide a comprehensive framework in strengthening domestic steel production while advancing sustainability, industrial competitiveness, and investment promotion,” the BoI said.