The import value of hot-rolled iron or non-alloy steel in coils to Canada is forecasted to decline significantly from 2024 to 2028. The series starts at $36.725 million in 2024 and is expected to drop to $18.34 million by 2028. The year-on-year percentage decrease from 2024 to 2025 is approximately 12.9%, continuing this downward trend annually with a compound annual growth rate (CAGR) of around -16.6% over the five-year period.
Future trends to watch include global market dynamics affecting steel production, geopolitical trade relationships, and potential shifts in Canadian domestic demand and policies. Increased competitiveness from alternative materials and shifts toward sustainable production could further impact import levels.
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