Market Research on Steel, Aluminum, Zinc, and Other Metal Scrap In Bangladesh
- November 16, 2019
- Posted by: Sujon Ahamed
- Category: Market Research
A International Trading Company
October – November 2019
The objective of the project was to carry out a market research on Ferrous and Non-Ferrous scrap.
- Conducted a demand and needs survey of the local companies and explored a collaboration possibility in order to establish a sales channel before exporting regarding steel scrap.
- Conduct local demand and supply status surveys (including the list of local non-ferrous manufacturing industries) regarding non-ferrous metals (aluminum, copper, etc.).
- For future prospects, conducted a technical level survey to consider exporting to third countries (India, Malaysia, Indonesia, Middle East, Korea, etc.) according to market prices.
Result of the Study:
Through the market research, it has been found that in 2018 the total production of steel billet in Bangladesh was 4.7 million MT which was 85% of total billet demand. To produce this billet metal scrap is sourced from both national and international sources. As Bangladesh has no iron mine yet, locally sourced scrapes mainly come from shipbreaking and domestic recyclable scrap. Among the 4.7 million MT scrap, 3.4 million scraps was imported in 2018.
AKS, BSRM, Anwar Ispat, GPH Ispat, KSRM are the leading importers of iron scrap; Kaium Metal Works, Latif Industrial Corporation, Akbar Metal Industries, Anjum Metal Industries Ltd, Alkara Metal Ind. are the leading importers of aluminum scrap; Nalco Alloys Ltd, Mohammadi Electric Wires & Multi Pr, are the leading importers of copper scrap and Rancon Sweaters Ltd, Yester Accessories Company (Bd) Ltd were the leading importers of brass scrap during 2017-2018 fiscal year.
Besides, importing scraps, Bangladesh exports waste of copper, aluminum, zinc, stainless steel, and waste of cast iron. Countries like India, Spain, Vietnam, and Japan are the major importer of those waste from Bangladesh.
As demand for steel in Bangladesh is increasing year by year, the rate of increment is around 8-10%, demand for scrap is also predicted to be high in the future. Thus, there is a potential scope for investors to re-think the Bangladeshi market.