Forecast: Re-Import of Hot-Rolled Iron or Non-Alloy Steel in Coils, of a Width of 600 mm or More, Thickness Less Than 3 mm and Minimum Yield Point Not Exceeding 275 Mpa to Canada

In 2023, the re-import of hot-rolled iron or non-alloy steel in coils to Canada stood as a crucial component of its steel market. From 2024 to 2028, the forecasted figures indicate a declining trend, with the re-import value dropping annually. Specifically, from 2024 to 2025, there is an approximate decline of 15.3%, a further 17.8% decline into 2026, a 21.2% decline reaching 2027, and another significant decrease of 26.3% by 2028. Over the five-year period from 2024 to 2028, the compound annual growth rate (CAGR) reflects an average annual contraction in import value.

Future trends to watch for include changes in global steel demand, potential policy adjustments in Canada's trade agreements, and technological advancements in the steel industry, which may influence both the need for re-imports and domestic production capabilities.