The imports of iron and steel in China have shown a significant upward trend from 2013 to 2023, marked especially by a notable spike in 2020. The year 2023 stood at 44.97 billion USD. With recent year-on-year percentages holding steady around 1.63%, the compound annual growth rate (CAGR) for the past five years stood at 14.99%. The forecasted data from 2024 to 2028 suggests a moderate growth trajectory with a forecasted five-year CAGR of 1.19%, indicating steady but slower growth compared to the previous period.
Future trends to watch for include:
● Potential impacts of global trade policies on import volumes.
● Shifts in domestic steel production capacity and technology.
● Economic growth rates and infrastructure development initiatives in China.
● Fluctuations in global iron and steel prices and raw material availability.