Forecast: Iron and Steel Scrap Consumption in South Atlantic in the US

The consumption of iron and steel scrap in the South Atlantic region of the US has shown a consistent decline from 2013 to 2023, moving from 6.31 million metric tons to 5.26 million metric tons in 2023. This represents a year-on-year decrease of 2.16% for 2023, and a Compound Annual Growth Rate (CAGR) of -2.16% from 2018 to 2023. Over the five-year forecast period from 2024 to 2028, a further decline is expected, with an average annual decrease (CAGR) of -1.95%, suggesting a continued downward trend.

Key points:

• 2013-2023: Consistent annual decrease, average of -2.16% per year.
• 2023 actual value: 5.26 million metric tons.
• 2024-2028 forecast: Average annual decrease of -1.95%.
• Projected 2028 value: 4.65 million metric tons.

Future trends to watch for include technological advancements in recycling processes, changes in import-export regulations, and shifts in demand driven by the construction and automotive industries, which will significantly influence scrap consumption. Monitoring global steel production trends and environmental policies could also provide insights into future market dynamics.