The forecast for the import of remelting scrap ingots of iron or steel to Canada indicates a steady decline from 2024 to 2028. The volume in 2024 is expected to be 1.0276 million kilograms, decreasing annually to 0.77439 million kilograms by 2028. Year-on-year variation shows a consistent decline, highlighting a drop in imports as compared to actual values from 2023. The Compound Annual Growth Rate (CAGR) over the forecast period signifies an average decrease per year, reflecting a shrinking market presence of these imports in Canada.

Future trends to watch for may include:

Changes in Canadian domestic steel production impacting the dependence on imported remelting scrap ingots.
Global market dynamics such as trade policies and tariff adjustments affecting import volumes.
Developments in recycling policies and technological advancements in steel production that may influence demand.