In 2023, the import of iron or non-alloy steel bar and rod of free-cutting steel to China stood at 2.25 million US dollars. Forecasting data suggests a steady decline from 2024 to 2028, with values decreasing from 2.2144 to 2.0161 million US dollars, indicating a compound annual growth rate (CAGR) of approximately -1.87%. The year-on-year variations reflect a consistent downward trend in import value, reflecting decreased demand or increased domestic production.

Future trends to watch for:

Impact of China’s domestic steel capacity expansion on import requirements.
Government policies affecting the import of raw materials or finished goods.
Global economic factors influencing raw material costs and supply chain dynamics.