As of 2023, the actual ending stocks of iron and steel scrap at manufacturers of pig iron, raw steel, and castings in the US stood at approximately 3.70 million metric tons. Forecasts for 2024 through 2028 indicate a slight and gradual decline, stabilizing around 3.66 million metric tons by 2028. From 2023 to 2024, the stocks are expected to decrease by roughly 0.54%. Over the five-year forecast period from 2024 to 2028, the stocks experience minimal change, reflecting a Compound Annual Growth Rate (CAGR) near zero, showcasing stable inventory levels.
Future trends to watch for:
- Potential shifts in global steel demand impacting scrap stocks.
- Technological advancements in recycling and production efficiency.
- Environmental policies influencing scrap utilization.
