The forecast analysis indicates a consistent decline in the import value of Iron and Non-Alloy Steel in Ingots to Canada from 2024 to 2028. Beginning with $2.37 million in 2024, the imports steadily reduce to $1.61 million by 2028. The forecast demonstrates annual decreases, with notable year-on-year percentage reductions indicating a clear downward trend. The compound annual growth rate (CAGR) over the forecast period aligns with this declining trend.
Future trends to monitor include:
- Potential shifts in global steel prices that may influence import costs.
- Changes in domestic steel production capabilities affecting import demand.
- Trade policy adjustments or tariffs that could impact import volumes.
