Bangladesh Billet Imports at 860,000 MT in 2016 (Till Sep)

Bangladesh has always been a key destination for seaborne billets due to large number of rolling mills. Country imports around 1.5-2 MnT of billet every year against an annual requirement of about 4-5 MnT.

Bangladesh imported around 860,000 MT (0.86 MnT) billets in first 9 months of 2016 (Jan-Sep), according to data maintained by Steelmint. Out of which 88% was through sea route and 12% was via road from India.

It is expected that billet imports will come down in coming years owing to recent hike in billet import duty by Bangladesh government with an intention to increase steelmaking in the country.

Bangladesh is one of Asia’s most emerging steel markets and has a growing need for raw materials and Semi Finished materials. Steel Capacity in Bangladesh during FY’2016 was 3 MnT, registered a growth of 200% against 1 MnT during FY’15. It is believed that the capacity will increase to 4.5-5 MnT in 2018 owing to government’s various initiatives to push steel production in the country.

Steel Billet Import by Bangladesh through Sea during Jan-Sep’16

Source: SteelMint

Bangladesh import Billet from India through road also, the nation imported around 0.10 MnT Billet through road from India during Jan-Sep’16.

Bangladesh Billet Import through Road during Jan-Sep’16

Source: SteelMint