Forecast: Import of Bars and Rods of Iron or Non-Alloy Steel Only Forged, Hot-Rolled, Hot-Drawn or Hot-Extruded to China

The forecast for the import of bars and rods of iron or non-alloy steel to China indicates a consistent annual decrease from 2024 to 2028, with values dropping from $57.544 million in 2024 to $39.359 million in 2028. This reflects a negative year-on-year variation, averaging a compound annual growth rate (CAGR) of -8.86% over five years. The import value stood at an undetermined level in 2023. This declining trend suggests reduced reliance on these imports, likely due to either increased domestic production capabilities or shifts in industrial demand.

Future trends to watch for include potential government policies aimed at bolstering local steel industries, technological advancements that could influence supply chains, and geopolitical factors that might impact trade relations and tariffs, further affecting import dynamics.