The forecast for iron and steel scrap consumption by manufacturers of steel castings in the US shows a gradual decline from 841 thousand metric tons in 2024 to 734 thousand metric tons in 2028. This represents a year-on-year decrease of approximately 3%-4% each year. The compound annual growth rate (CAGR) from 2024 to 2028 is approximately -3.37%.

In 2023, the actual consumption was higher, emphasizing a downward trend amid potential market shifts. Future trends to watch for include:

Technological advancements in steel production could impact scrap demand.
Environmental regulations may drive increased recycling, influencing scrap consumption patterns.
Global steel market dynamics and economic conditions could further affect US scrap consumption.