The forecast for the import of hot rolled bar and rod grooved iron or non-alloy steel in irregular coils to Canada from 2024 to 2028 shows a declining trend. Starting at 6.7993 million kilograms in 2024, imports are expected to gradually decrease to 5.4433 million kilograms by 2028. This represents a consistent year-on-year decline over the forecast period. In 2023, the actual import value was not provided but can be inferred as preceding these figures. Analyzing the CAGR over these years indicates an average annual decrease in imports.
Future trends to watch for include potential shifts in global steel demand and pricing, which could affect Canadian import volumes. Additionally, trade policy changes or domestic production capacity expansions may impact these forecasts and should be closely monitored.
