Philippines' steel demand expected to rise

Philippines Iron and Steel Institute (PISI) expects the country's demand for iron and steel products to rebound this year after a 10 percent decline last year. The PISI said that the first quarter demand indicated a promising year, but the demand was weak at the beginning of April because of the long holidays. Demand for iron and steel products in the country fell 10 percent to 2.6 million tons in 2005 from 2.9 million tons in 2004.