Forecast: Import of Sections, I of Iron or Non-Alloy Steel Not Further Worked Than Hot-Rolled, Hot-Drawn or Extruded, of a Height of More Than 80 mm to the US

The forecasted import of sections of iron or non-alloy steel to the US, specifically sections not further worked than hot-rolled, hot-drawn, or extruded of a height exceeding 80 mm, is anticipated to decrease gradually from 2024 to 2028, starting at 78.34 million USD in 2024 and reducing to 75.101 million USD by 2028. In 2023, the import value was approximately 79.2 million USD, highlighting a declining trend.

Year-on-year percentage variations during this period reveal consistent negative growth, indicating a gradual annual decrease in import values. Over the five-year period from 2024 to 2028, the Compound Annual Growth Rate (CAGR) marks a steady decline.

Future trends to watch for include:

Potential influencing factors such as changes in US steel consumption, domestic production policy shifts, or international trade agreements that could alter import needs.

Global market conditions affecting iron or non-alloy steel production and supply chain dynamics, which could impact forecast accuracy and necessitate adjustments.

Technological advancements in domestic manufacturing that might drive a reduction in imported raw materials.