In 2023, China's import of bar and rod of silico-manganese steel not in coils was recorded at 11.3 million kilograms. The forecast indicates a steady increase in the import volume, reaching 12.487 million kilograms by 2028. Year-on-year growth reveals a modest annual increment ranging between 2% to 2.3% from 2024 to 2028. The five-year compound annual growth rate (CAGR) is calculated at approximately 2.06%, reflecting consistent demand over the period.
Looking forward, several factors may influence this trend:
- Potential shifts in the global supply chain and production capacities.
- China's domestic policy adjustments including environmental regulations.
- Any changes in global steel demand and related economic conditions which could affect import needs.
