Bangladesh: Flat-Rolled Steel Products Market 2025

Flat-Rolled Steel Products Market Size in Bangladesh

The Bangladeshi flat-rolled steel products market contracted to $X in 2021, shrinking by -6.2% against the previous year. Over the period under review, consumption showed a slight downturn. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2021, consumption stood at a somewhat lower figure.

Flat-Rolled Steel Products Production in Bangladesh

In value terms, flat-rolled steel products production shrank to $X in 2021 estimated in export price. Over the period under review, production saw a mild downturn. The pace of growth appeared the most rapid in 2013 when the production volume increased by 57% against the previous year. Over the period under review, production reached the maximum level at $X in 2014; however, from 2015 to 2021, production remained at a lower figure.

Flat-Rolled Steel Products Exports

Exports from Bangladesh

In 2021, approx. X tons of flat-rolled products of iron or non-alloy steel were exported from Bangladesh; reducing by -19.4% compared with the previous year's figure. Overall, exports continue to indicate a precipitous decline. The pace of growth was the most pronounced in 2018 with an increase of 63% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, flat-rolled steel products exports reduced markedly to $X in 2021. Over the period under review, exports saw a precipitous slump. The pace of growth was the most pronounced in 2018 with an increase of 113% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Singapore (X tons) was the main destination for flat-rolled steel products exports from Bangladesh, with a 97% share of total exports. It was followed by China (X kg), with a 1.8% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Singapore totaled -49.0%.

In value terms, Singapore ($X) remains the key foreign market for flat-rolled products of iron or non-alloy steel exports from Bangladesh, comprising 88% of total exports. The second position in the ranking was taken by China ($X), with a 9.3% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Singapore amounted to -49.5%.

Export Prices by Country

The average flat-rolled steel products export price stood at $X per ton in 2021, standing approx. at the previous year. Overall, the export price, however, continues to indicate a slight expansion. The most prominent rate of growth was recorded in 2013 when the average export price increased by 115%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Singapore amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Mozambique (+323.1%), while the prices for the other major destinations experienced more modest paces of growth.

Flat-Rolled Steel Products Imports

Imports into Bangladesh

In 2021, approx. X tons of flat-rolled products of iron or non-alloy steel were imported into Bangladesh; growing by 32% against the previous year. Over the period under review, total imports indicated a prominent increase from 2012 to 2021: its volume increased at an average annual rate of +6.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, flat-rolled steel products imports surged to $X in 2021. Overall, total imports indicated strong growth from 2012 to 2021: its value increased at an average annual rate of +7.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

China (X tons), Japan (X tons) and the UK (X tons) were the main suppliers of flat-rolled steel products imports to Bangladesh, together accounting for 39% of total imports. Malaysia, the Netherlands, Belgium, India, Italy, the United States, Canada and South Korea lagged somewhat behind, together comprising a further 31%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of +22.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest flat-rolled steel products suppliers to Bangladesh were Japan ($X), China ($X) and Malaysia ($X), together comprising 50% of total imports. These countries were followed by India, the Netherlands, the UK, Belgium, Italy, the United States, Canada and South Korea, which together accounted for a further 24%.

Among the main suppliers, India, with a CAGR of +27.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average flat-rolled steel products import price amounted to $X per ton, with an increase of 33% against the previous year. In general, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was India ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+4.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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