The import of unagglomerated iron ore and concentrate to Canada is projected to see a steady increase over the next five years, starting at $15.693 million in 2024 and reaching $17.494 million by 2028. Compared to the actual import value in 2023, which was $15.257 million, this signifies a gradual upward trend. The year-on-year growth rates from 2024 to 2028 are expected to average around 2.8%, reflecting continuous and consistent demand in the Canadian market.
For future trends, it is crucial to keep an eye on global iron ore prices, potential changes in international trade policies, and advancements in mining technologies, which may impact both supply chains and costs. Additionally, the development of sustainable practices and the push towards greener mining operations could influence market dynamics and import strategies.