The import of iron or non-alloy steel bar and rod indented or twisted to Japan is forecasted to decline gradually from 2024 through 2028, starting at $2.9923 million and decreasing to $2.8475 million. Compared to previous trends, this marks a continuing downtrend, following a likely stable or slightly declining period in 2023. On average, the forecast indicates a modest reduction, with each subsequent year seeing a slight decrease in import values year-on-year. Over the next five years, the compound annual growth rate (CAGR) is expected to show a slight negative trajectory.
Future trends to monitor include:
- Potential shifts in Japan's domestic demand for construction and infrastructure projects, impacting steel consumption.
- Changes in global steel market prices and supply chain logistics.
- Japan's trade policies and economic relations with steel-exporting countries.
- Technological advancements in domestic steel production that could reduce reliance on imports.
