One of the leading Bangladeshi electric arc furnace steelmakers, GPH Ispat, has been successfully exported its fourth shipment of prime quality steel billet to China’s Jiangyin/Xiamen port in May.
In November 2020, the company initiated its first bulk billet export shipment to China. Amid the pandemic, domestic demand was weak and the company turned to the export market.
Since then, the steelmaker has exported four shipments of billets in bulk valued at over $50mn (BDT4,235mn).
The steelmaker has also turned active for containerized imported ferrous scrap. A local trading company estimates, in May 2021, out of 265,000mt ferrous scrap imported in Bangladesh, over 10pc likely to have imported by GPH Ispat. While over 50pc share to be from BSRM.
GPH Ispat is increasing its presence in the export market amid slower domestic demand. The facility has over 1mn mt of production capacity. Post commencement of operations at its newly installed electric arc furnace; power consumption decreased by 50pc.
Managing Director Mohammad Almas Shimul is also hopeful for policies to support exports which could boost the company’s income. He also hopes for government stimulus to aid Bangladeshi steel and billet exports in the near term.