The forecast for Canada’s import of remelting scrap ingots of iron or steel shows a steady decline from 2024 to 2028. The projected imports start at 440,260 USD in 2024 and decrease annually to 376,670 USD by 2028. Compared to 2023, this marks a downward trend with year-on-year declines of approximately 3.7% in 2025, 3.8% in 2026, 3.9% in 2027, and 3.9% in 2028. The compound annual growth rate (CAGR) over the five-year period indicates a consistent decrease in value.

Future trends to watch for:

Potential impacts of global steel market conditions on import needs.
Technological advancements in steel recycling and efficiency improvements.
Policy changes regarding trade tariffs and environmental regulations influencing demand.