Bangladesh’s steel and cement industries are facing a severe downturn due to sluggish demand and political instability following former Prime Minister Sheikh Hasina’s resignation on August 5. Cement sales have plummeted by 35%-40%, while demand for construction rods has dropped by up to 70%. Prices of mild steel rods have decreased by Tk6,000-Tk7,000 per tonne, prompting some mills to halt operations despite continuing to pay workers.
Industry leaders warn of long-term damage without a resolution to the political crisis and a revival of government-funded projects. For example, HM Steel’s production has dropped from 600-700 tonnes daily to 250-300 tonnes. The cement sector is similarly affected, with Premier Cement reporting a 25%-35% decline in sales from July to September due to stalled infrastructure projects and a lack of leadership. Overall, both industries are struggling to maintain production amid falling demand and rising raw material costs.
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