Bangladesh's GPH Ispat to export 25,000 t billets to China

GPH Ispat Limited, one of the leading steelmakers of Bangladesh, has signed a contract with China for the exports of 25,000 t billets. The company posted on the Dhaka Stock Exchange (DSE). The contract value was $10.17 million (equivalent to $407/t, FoB Bangladesh). It is the first bulk billet export shipment from Bangladesh.

According to recent media reports, the Additional Managing Director Mr. Almas Shimul said: "We are in the phase of biggest shipment in the history of Bangladesh in terms of value. If policy support from the government is given like in other export sectors, we can continue in the future. This will become a new avenue in the export sector."

The company is aiming to achieve the export receipts of $70-100 million for the current fiscal year and expects its export earnings to increase further in the near future.

GPH Ispat is Bangladesh's 3rd largest steelmaker with a capacity of 1 mn t pa. The company's new quantum EAF furnace had successfully performed its test runs on 15th Jan'20. The plant includes an 80 t Quantum EAF Furnace with a preheating system, which provides a staggering 36 heats per day for steelmaking, on account of a low tap-to-tap time of just 40 minutes.

Bangladesh's steel sector has a steel production capacity of nearly 7 mn t pa. After the ramp-up, the steel production capacity is estimated to reach 8.5 mn t by CY'20 end.