Forecast: Import of Hot-Rolled Iron or Non-Alloy Steel in Coils, of a Width of 600 mm or More, Thickness Less Than 3 mm and Minimum Yield Point Not Exceeding 275 Mpa to India

The import of hot-rolled iron or non-alloy steel in coils to India is forecasted to experience gradual growth from 2024 to 2028, increasing from 948 million kilograms in 2024 to 1,016 million kilograms in 2028. Given the actual data from previous years, the estimated value for 2023 is imperative for accurate trend evaluation. Assuming the past values followed a similar upward trajectory, expect a moderate year-on-year rise with an observed compound annual growth rate (CAGR) reflecting steady demand and consumption growth.

Future trends to watch:

• Impact of evolving trade policies on import volumes
• Domestic steel production capabilities potentially offsetting import demand
• Fluctuations in global iron ore prices influencing import decisions
• Advancements in Indian infrastructure projects driving increased need for steel imports