The forecast for iron and steel scrap consumption at iron foundries and miscellaneous users in the US from 2024 to 2028 shows a declining trend. Starting at 3.52 million metric tons in 2024, the consumption is expected to decrease to 2.75 million metric tons by 2028. The year-on-year variation indicates a steady decline with an overall decrease of approximately 21.6% over this period. The compound annual growth rate (CAGR) reflects a reduction of about 4.9% per year over the five-year forecast.
Future trends to watch for include advancements in recycling technology, potential regulatory changes impacting scrap usage, and shifts in global demand for iron and steel products, all of which could influence these forecasts.
