In 2023, China imported hot-rolled iron or non-alloy steel in coils with a total value of 930 million USD. Forecasts from 2024 indicate a steady upward trend in imports, with values rising from 958.59 million USD in 2024 to 1080.9 million USD by 2028. This represents a 5-year compound annual growth rate (CAGR) of approximately 3.0%. The year-on-year growth from 2024 to 2028 varies between 3.3% and 2.8%, indicating a consistent demand trajectory in the coming years.
Future trends to watch for include:
- Potential shifts in global steel prices, which could impact import costs.
- China's domestic production capacity adjustments and its impact on import needs.
- Changes in international trade policies affecting global supply chains and import dynamics.
- Sustainability and carbon emission regulations possibly influencing import strategies.
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