The import of iron or non-alloy steel bar and rod, indented or twisted to Canada, is forecasted to increase steadily from 2024 to 2028, growing from $414.42 million to $441.02 million. In 2023, the import value stood at a lower baseline, serving as a reference point for these forecasts. The year-on-year growth rate signifies a consistent upward trend, reflecting a robust market demand and potentially favorable trade policies. The compound annual growth rate (CAGR) over five years will provide a reliable measure of average annual growth during this period.

Future trends to watch for include:

Global steel market fluctuations, which could impact supply chains and import costs.
Technological advancements in steel production and processing could affect demand dynamics.
International trade agreements and tariffs, affecting import volumes and pricing.
Infrastructure and construction activities in Canada, significantly driving the demand.