Forecast: Import of Sections, I of Iron or Non-Alloy Steel Not Further Worked Than Hot-Rolled, Hot-Drawn or Extruded, of a Height of More Than 80 mm to Canada

The forecast for the import of sections of iron or non-alloy steel to Canada, with a height of more than 80 mm, indicates a steady decline from approximately 66.128 million kilograms in 2024 to 61.165 million kilograms in 2028. Compared to 2023, this represents a gradual decrease in annual import volumes.

Year-on-year, the import volume is expected to decrease at an average rate of around 1.9% over the next five years, culminating in a cumulative decline in volumes of approximately 7.5% by 2028. The compound annual growth rate (CAGR) from 2024 to 2028 is projected to be around -1.9%.

Trends to watch for in the future include:

• Global economic conditions and their impact on steel demand and prices, which could influence import volumes.
• Canada's domestic steel production capabilities and potential shifts in sourcing strategies.
• Developments in trade policies and agreements that could affect import regulations or costs.
• Technological advancements in steel manufacturing that could impact supply chains and import dependency.