The import of iron and steel to the UK is expected to show a consistent upward trend over the next five years. Starting from a value of $6.9781 billion in 2024, the forecasted imports are projected to grow to $7.1528 billion by 2028. The data indicates a year-on-year increase of approximately 0.64% from 2024 to 2025, 0.63% from 2025 to 2026, 0.61% from 2026 to 2027, and 0.60% from 2027 to 2028. The compound annual growth rate (CAGR) for this period stands at approximately 0.62%.
Future trends to watch for include the impact of global trade policies, fluctuations in global steel demand, and potential shifts in the UK's domestic steel production capabilities. Environmental regulations and technological advancements in steel production and recycling could also influence future import volumes and values.