In 2023, the import of articles of iron or steel to Canada was recorded at $11.0 billion USD. Starting in 2024, the projections indicate a steady annual increase in imports, with figures reaching up to $11.55 billion USD by 2028. This represents a consistent year-on-year growth, showcasing an annual increase of approximately 1.1% to 1.3%. Over the 5-year forecast period from 2024 to 2028, the compound annual growth rate (CAGR) is expected to be around 0.8%.

Future trends to watch for:

Potential impact of global trade agreements and tariffs on the import volumes.
Technological advancements in the steel industry that could affect production and demand.
Environmental regulations that may influence sourcing and supply chain dynamics.
Economic factors such as exchange rates and global economic conditions that could impact import levels.