Bangladesh: Market for Hot-Rolled Non-Alloy Steel Wire Rods 2025

Market Size for Hot-Rolled Non-Alloy Steel Wire Rods in Bangladesh

After four years of growth, the Bangladeshi market for hot-rolled non-alloy steel wire rods decreased by -33.6% to $X in 2021. Over the period under review, consumption showed a slight setback. Hot-rolled non-alloy steel wire rod consumption peaked at $X in 2020, and then declined remarkably in the following year.

Exports of Hot-Rolled Non-Alloy Steel Wire Rods

Exports from Bangladesh

In 2021, exports of hot-rolled non-alloy steel wire rods from Bangladesh skyrocketed to X tons, surging by 19% on the year before. Overall, exports showed a significant increase. The growth pace was the most rapid in 2013 when exports increased by 306%. The exports peaked in 2021 and are likely to continue growth in the near future.

In value terms, hot-rolled non-alloy steel wire rod exports skyrocketed to $X in 2021. In general, exports continue to indicate significant growth. The growth pace was the most rapid in 2013 when exports increased by 264% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to see gradual growth in the near future.

Exports by Country

India (X tons) was the main destination for hot-rolled non-alloy steel wire rod exports from Bangladesh, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to India totaled +50.2%.

In value terms, India ($X) also remains the key foreign market for hot-rolled non-alloy steel wire rods exports from Bangladesh.

From 2012 to 2021, the average annual growth rate of value to India totaled +54.2%.

Export Prices by Country

The average export price for hot-rolled non-alloy steel wire rods stood at $X per ton in 2021, remaining relatively unchanged against the previous year. In general, export price indicated mild growth from 2012 to 2021: its price increased at an average annual rate of +1.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, hot-rolled non-alloy steel wire rod export price increased by +82.9% against 2016 indices. The most prominent rate of growth was recorded in 2018 when the average export price increased by 53%. Over the period under review, the average export prices reached the maximum in 2021 and is expected to retain growth in years to come.

As there is only one major export destination, the average price level is determined by prices for India.

From 2012 to 2021, the rate of growth in terms of prices for India amounted to +2.6% per year.

Imports of Hot-Rolled Non-Alloy Steel Wire Rods

Imports into Bangladesh

In 2021, after four years of growth, there was significant decline in purchases abroad of hot-rolled non-alloy steel wire rods, when their volume decreased by -35.8% to X tons. Overall, imports, however, recorded a temperate increase. The most prominent rate of growth was recorded in 2015 with an increase of 71%. Imports peaked at X tons in 2020, and then dropped rapidly in the following year.

In value terms, hot-rolled non-alloy steel wire rod imports shrank rapidly to $X in 2021. In general, imports saw a mild contraction. The pace of growth was the most pronounced in 2018 with an increase of 64%. Imports peaked at $X in 2020, and then contracted dramatically in the following year.

Imports by Country

Indonesia (X tons), India (X tons) and China (X tons) were the main suppliers of hot-rolled non-alloy steel wire rod imports to Bangladesh, together comprising 93% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by India (with a CAGR of +6.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest hot-rolled non-alloy steel wire rod suppliers to Bangladesh were Indonesia ($X), India ($X) and China ($X), together comprising 94% of total imports.

In terms of the main suppliers, India, with a CAGR of +2.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average import price for hot-rolled non-alloy steel wire rods stood at $X per ton in 2021, picking up by 6.9% against the previous year. In general, the import price, however, continues to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2017 an increase of 23% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($X per ton), while the price for Ukraine ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (-0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform