In 2023, the import volume of iron ores and concentrates to the UK stood at 6.8735 billion kilograms. The forecasted data from 2024 to 2028 indicates a consistent decline in imports: 6.4908 billion kilograms in 2024, 6.0834 billion kilograms in 2025, 5.6842 billion kilograms in 2026, 5.2929 billion kilograms in 2027, and 4.9094 billion kilograms in 2028. This decline represents a year-on-year variation of -5.57% from 2024 to 2025, -6.56% from 2025 to 2026, -6.94% from 2026 to 2027, and -7.23% from 2027 to 2028. The last CAGR over this five-year period is -6.30%, showing a steady downward trend.
Future trends to watch for include potential changes in global supply chains, technological advancements in steelmaking that may reduce the need for imported iron ores, and UK policies aimed at reducing reliance on imported raw materials. Environmental regulations and international trade agreements could also impact these forecasts.
