The forecast for the import of iron and non-alloy steel in primary forms to Canada shows a declining trend from 2024 to 2028. In 2023, actual imports stood at 566.12 Thousand US Dollars. The year-on-year percentage change reveals a consistent decline: -2.96% in 2025, -3% in 2026, -3.01% in 2027, and -3.05% in 2028. This downward trajectory is reflected in the compound annual growth rate (CAGR) of -3.01% over the five years. This indicates a steady decrease in imports, possibly due to increased domestic production or changing market demands.
Future trends to watch for include:
- Shifts in global steel prices that could affect import costs.
- Changes in Canadian infrastructure projects that may boost demand.
- Potential trade agreements altering import dynamics.
- Technological advancements in steel production affecting import needs.
