Bangladesh, a key South Asian country, is set to see an increase in steel demand in the medium-to-long term. Working towards this end, the country’s steel melting capacity is expected to increase by another 3 million tonnes (mnt) or over 40% to 13 (mnt) by 2027 from 9 mnt in CY’24 and crude steel production is seen rising over 35% to 8 mnt from almost 6 mnt in CY’24. A slew of infrastructure projects is nearing completion while a cache of new ones is likely to be announced, which will contribute 25-30% of steel demand. As a result, the country’s steel consumption is slated to increase 25% to around 10.60 mnt by 2027 from 8.5 mnt in CY’24.
