The import of iron or non-alloy steel bar and rod indented or twisted to Japan is projected to decline from 2.0413 million kilograms in 2024 to 0.77346 million kilograms by 2028. Compared to 2023, steady declines are anticipated with year-on-year decreases revealing substantial reductions ranging from approximately 16% to nearly 28% annually, leading to a compound annual growth rate (CAGR) of -23.5% over five years. This indicates a significant downward trend in import volume over the forecasted period.
Future trends to watch for include potential shifts in Japan's domestic production capabilities, changes in construction and infrastructure activities, and global steel market dynamics. These elements could influence demand and import levels significantly, potentially altering the current forecasted trajectory.
