Forecast: Import of Hot Rolled Iron or Non-Alloy Steel Not in Coils, of a Width of 600 mm or More, Thickness of 4.75-10 mm and Minimum Yield Point Not Exceeding 355 Mpa to Canada

In 2023, imports of hot rolled iron or non-alloy steel not in coils, measuring 600 mm or more in width and 4.75-10 mm in thickness, with a minimum yield point not exceeding 355 Mpa to Canada were valued at approximately $37.7 million. The forecast from 2024 onwards indicates a steady decline, with values dropping to $27.374 million by 2028. Compared to 2023, the anticipated year-on-year decrease for 2024 is around 5.6%. Subsequent years show yearly declines, suggesting a consistent downward trajectory over the five-year forecast period, resulting in a negative compound annual growth rate (CAGR).

Future trends to watch include fluctuating global demand and supply chain disruptions which may influence the import levels of this steel category. Additionally, shifts towards renewable energy investments and changes in infrastructure projects in Canada could further impact these imports.