Bangladesh now processes a significant quantity of steel, some of which are exported after meeting the
local demand. The per capita consumption of steel was 45 kg in 2020 and is expected to increase to 75
kg in 2022 (Islam, 2022) and the demand for steel and re-rolling is expected to increase by 6%-7%
annually till 2025 (SteelMint, 2022). With the rising consumption level the current local steel market size
is around BDT 72,000 crore (Chakma et al., 2022). In the total steel consumption 60% comes from public
sector demand, 25% from household, and 15% from commercial construction (Islam, 2022). In FY21 the
growth of export was 177.94% compared to the previous year and in FY22 it increased by 17.20%
standing at USD 120.04 million, due to increased production capacity, Foreign Direct Investment, and
higher demand in the international market (Export Promotion Bureau, 2022). In 2021, around 261 ships
were scraped, and the import of scrap metal was 4 million tons (Omar Faruque, 2022). Other than that,
in FY22, for dismantling steel scrap, around 232 ships were imported into Bangladesh’s yards at the cost
of BDT 13,585 crores (Omar Faruque, 2022). According to the Bangladesh Bank, in the recent FY22, the
import amount of iron and steel is BDT 51,057 crore (Bangladesh Bank, 2022). Full Report