The forecast for China's import of hot rolled iron or non-alloy steel not in coils, of a width of 600 mm or more, with a thickness greater than 10 mm and a minimum yield point not exceeding 355 MPa, shows a consistent upward trend from 2024 to 2028. In 2023, the recorded import value was notably lower than the projected figures for the following years. Year-on-year estimates for 2024 to 2028 predict gradual increases, with a compound annual growth rate (CAGR) over the five-year period reflecting steady growth.
- 2024 to 2025: Increase of 2.23%
- 2025 to 2026: Increase of 2.14%
- 2026 to 2027: Increase of 2.05%
- 2027 to 2028: Increase of 1.98%
Future trends to watch for include potential shifts in demand due to economic conditions, trade policy changes, and technological advancements in steel production. These could affect both local consumption patterns and the global supply chain, impacting import volumes and values. Monitoring China's industrial policies and international negotiations will also be crucial in anticipating further market developments.
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