In 2023, the iron and steel scrap consumption in New England and Middle Atlantic stood at 5.89 million metric tons. Forecasts suggest a gradual decline from 2024 to 2028, with consumption decreasing from 5.79 to 5.4 million metric tons. This indicates a careful 5-year CAGR decline of about 2.09% on average annually. Year-on-year, the reduction is approximately 1.72% from 2024 to 2025 and around 1.68% for subsequent years.
Future trends to watch for:
- Sustainability practices impacting scrap utilization.
- Technological advances enhancing recycling efficiency.
- Market demands influenced by economic and geopolitical factors.
- Government policies affecting regional production dynamics.
