Forecast: No. 1 Heavy-Melting Steel Consumption of Purchased and Home Scrap in the US

In 2023, the No. 1 Heavy-Melting Steel Consumption of Purchased and Home Scrap in the US stood at an estimated 4.0 Million Metric Tons. From 2024 to 2028, the data forecasts a declining trend in consumption, decreasing from 3.83 to 3.26 Million Metric Tons.

Year-on-year variation indicates consistent declines, with an average annual decrease (CAGR) of approximately 3.1% over the forecast period from 2024 to 2028. Specifically, the forecast shows a decrease each year, signaling a persistent downtrend in heavy-melting steel consumption.

Future trends to watch for include:

• Potential shifts in the automotive and construction sectors, influencing steel demand.
• Technological advancements in recycling efficiency.
• Environmental regulations impacting production and consumption patterns.
• The global steel market dynamics, including trade policies and economic recovery post-pandemic.