In 2023, South Africa's import of iron and steel stood at 1.235 billion US Dollars. The forecast for the years 2024 to 2028 indicates a steady increase in import value from 1.2519 billion US Dollars in 2024 to 1.313 billion US Dollars in 2028. This shows a year-on-year variation of approximately 1% from 2024 to 2025, and a similar incremental pattern continues through 2028. The 5-year CAGR from 2023 to 2028 is roughly 1.2%, indicating a consistent trend of moderate growth.
Future trends to watch for:
- Global steel prices and supply chain stability.
- Domestic economic conditions and infrastructure investments in South Africa.
- Technological advancements in steel production and recycling.
- Trade policies and tariff regulations impacting imports.
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