In steel and raw material conference on ‘Emerging Market Bangladesh’ held by SteelMint, more than 15 countries have participated. Scrap suppliers from major nations including USA, UK, Japan, Malaysia, and other have shown their willingness for this event.
In the event, Mr Manwar Hossain, President of Bangladesh Steelmaker Association said, “Bangladesh is the 4th largest growing economy. The nation’s present per capita steel consumption is 25/kg and it is expected to reach over 200/Kg till 2025. In addition, rebar production in the country is likely to grow to 8 MnT till 2020.”
He further added, currently, Bangladesh has a steel capacity of 2.5 MnT.
Mr VR Sharma, CEO of Abul Khair Group, while illustrating global steel market said, “Chinese BF route steelmakers are operating with 10-12% margin.”
He further added, China will remove export duty rebate very soon. It will increase steel prices by 10-12%.
At the same time, Mr Amir Ali Hussain, MD of BSRM Group stated, “Bangladesh will continue to perform well in future irrespective of global slowdown in steel industry. The nation may decrease import of billet but scrap import may increase by 3 times from present level.”
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