Forecast: Import of Hot Rolled Iron or Non-Alloy Steel Not in Coils, of a Width of 600 mm or More, Thickness More Than 10 mm and Minimum Yield Point Not Exceeding 355 Mpa to India

The import of hot rolled iron or non-alloy steel not in coils to India is expected to gradually decline from 2024 to 2028. The forecast indicates a consistent decrease annually from $265.34 million in 2024 to $250.57 million by 2028. Given the data for 2023, we observe a downward trend with an average annual decline, reflecting a negative growth outlook. This consistent reduction suggests a strategic shift perhaps towards domestic production or sourcing alternatives.

Future trends to watch for include:

• Changes in domestic policy affecting steel production and import.
• Potential rise in infrastructure projects demanding increased steel consumption.
• Global steel market dynamics and their impact on local pricing and sourcing.
• Technological advancements in steel production impacting local and global supply chains.