The re-import of stranded steel wire or cable not electrically insulated to China is projected to decline gradually from 2024 to 2028, with volumes dropping from 224.07 to 219.97 thousand kilograms. This marks a consistent year-on-year decrease of approximately -0.54% over this period. The compound annual growth rate (CAGR) over these five years is negative, averaging at -0.55%. In comparison, the volume stood at a higher level in 2023, indicating a downward trend beginning in 2024.
Future trends to watch for:
- Potential technological advancements in alternative materials which could further reduce demand for steel wire.
- Changing trade policies affecting the steel import/export market in China.
- Fluctuations in global steel prices and their impact on import volumes.
- Economic developments in China that could alter infrastructure investment activities.
