The forecast for the import of iron or non-alloy steel bar and rod, indented or twisted to Canada, indicates a steady increase from 2024 to 2028, with expected values rising from 624.64 million kilograms to 653.05 million kilograms. Compared to 2023, this upward trajectory demonstrates moderate annual growth. Year-on-year percentage variations are expected to be consistently around 1.2% to 1.1%, signifying a stable yet gradual increase over time. The Compound Annual Growth Rate (CAGR) over the five years is anticipated to average about 1.1% yearly.
Future trends to watch for include changes in global steel prices, economic conditions affecting construction and manufacturing sectors, and potential trade policy adjustments or tariffs that could impact import volumes. Additionally, shifts towards sustainable building practices and materials might influence demand for steel imports.
