The re-import of iron and steel to the UK is projected to decline from $1.2419 million in 2024 to $1.0541 million in 2028. As of 2023, the value stood at $1.2900 million, depicting a continuous downward trend. The year-on-year variations decline by approximately 3.9% in 2025, 4% in 2026, 4% in 2027, and 4.1% in 2028. The Compound Annual Growth Rate (CAGR) over the five-year period highlights an average decline of around 4% per year starting from 2023.
Future trends to watch for include global economic shifts, trade relations post-Brexit, and the impact of environmental policies on steel production and imports. Monitoring international pricing fluctuations and domestic demand will be vital in shaping these forecasts.
