In 2023, Japan's import of unagglomerated iron ore and concentrate was approximately 101.83 billion kilograms. According to the forecast for the ensuing years, there is an evident declining trend. From 2024 to 2028, the import values are projected to decrease year-on-year. Specifically, Japan's import volumes are expected to fall from 100.71 to 96.366 billion kilograms, reflecting a consistent downward trend. The 5-year compound annual growth rate (CAGR) indicates a slight but steady decline in import volumes.
Future trends to watch for include potential impacts from global economic fluctuations, shifts in the steel production capacity and technology in Japan, and any changes in international trade policies affecting raw material imports. Monitoring these factors is crucial for anticipating further developments in Japan's iron ore imports.
