In 2023, Japan's import of hot rolled bar and rod grooved iron or non-alloy steel in irregular coils stood at an actual volume below the 2024 forecast of 11.486 million kilograms. The forecast indicates a steady annual growth with a year-on-year increase of approximately 2% over the next five years, reaching 12.419 million kilograms by 2028. The compound annual growth rate (CAGR) reflects a consistent positive trend in import volume.

Future trends to watch for:

Global steel market fluctuations that could affect import costs and volumes.
Changes in Japan's domestic steel production and demand, potentially influencing import needs.
Economic policies and trade agreements impacting import tariffs and regulations.