In 2023, shipments of iron and steel scrap in the North Central US were recorded at 540.0 thousand metric tons. The forecast data indicates a year-on-year decline from 2024 through 2028. Specifically, shipments are anticipated to decrease gradually from 506.0 thousand metric tons in 2024 to 369.0 thousand metric tons by 2028. This represents a cumulative annual growth rate (CAGR) of -9.02% per year over the forecasted period.
Future trends to watch for include:
- Global and regional economic conditions that may impact production and demand.
- Emerging technologies in recycling and resource recovery.
- Regulatory and environmental policies affecting the industry.
- Potential supply chain disruptions or logistical challenges.
