How is Bangladesh’s steel industry faring a year after July Revolution?

It has been over one year since the July Revolution swept through Bangladesh, plunging the country into deep-set political and economic crises. The steel industry was caught in the crossfire, with real estate and infrastructure projects stalling, crippling steel demand. Mills’ capacity utilisation rates dropped precipitously, while a liquidity crunch hampered trading activity. Yet, even though months have passed, Bangladesh remains mired in a prolonged economic slump, with BigMint’s projections pointing to the possibility of a 4% y-o-y drop in crude steel production to 5.1-5.2 million tonnes (mnt) in CY’25.