Bangladesh’s steel industry is growing at a rapid pace on the back of increasing steel demand for the mega infrastructure projects lined up in the country in this decade. To meet the expeditious growth in demand, many large and medium steelmakers are expanding their steelmaking capacities by installing new melting furnaces. Approximately, over 10 induction furnaces of an (avg 25 T) capacities will get commissioned and operational in 2020 itself.
Major steel mills in Chittagong include – BSRM, Abul Khair, GPH Ispat & KSRM. In Dhaka mills like Rahim Steel, Salam Steel etc expanding their melting capacities aggressively, while even smaller mills like RB Steel, HR Steel and many others are adding new furnaces.
Bangladesh is expected to add around 1.5 MnT of steel production capacities in the next 12 months, thus leading to a sharp growth in its raw material import demand. Bangladesh’s total scrap imports (bulk + containers) are expected to cross 4.3 MnT by the end of CY’20 and are likely to breach 5 MnT mark by CY’21. Presently Bangladesh imports 3.7 MnT of ferrous scrap (bulk + container) annually, as of CY’19.
To know more about the Bangladesh steel industry’s growth story, increasing scrap, DRI and HRC imports, changes in its ship-recycling industry and other latest news from the industry, download the Bangladesh Newsletter attached below:
