In 2024, the import of bar and rod of silico-manganese steel of irregular coils to India is projected at 2.7626 million kilograms, reflecting trends of gradual decline through to 2028 at 2.5791 million kilograms. Compared to 2023, where import figures stood higher, a consistent downward trajectory highlights an overall decline in import volumes.
Year-on-year, there's a slight decrease in import volume, denoting cautious and strategic shifts in import patterns. The five-year compound annual growth rate (CAGR) indicates a modest decline, averaging a slight reduction in imports annually over the forecast period.
Future trends to watch include global shifts in steel demand, potential changes in trade policies, and evolving domestic requirements that could further influence India's import strategies for silico-manganese steel.
