The import value of hot rolled bars and rods of iron or non-alloy steel in irregular coils to the US is expected to decline steadily from 2024 to 2028, dropping from $794.07 million to $764.96 million. This indicates a consistent year-on-year decrease, reflecting a compound annual growth rate (CAGR) that suggests a moderate decline trajectory. In 2023, the market showed signs of starting this downward trend, setting the stage for these forecasts.

Future trends to watch for:

Potential policy changes affecting trade dynamics and tariffs could impact import levels.
Fluctuations in domestic steel production capacities might alter import demands.
Shifts in construction and infrastructure sectors could influence the need for imported steel materials.