In 2023, the supply of iron and steel available for consumption in New England and Middle Atlantic stood at approximately 6.03 million metric tons. Starting from 2024, there is a steadily declining trend, with a forecasted annual decrease in supply: 1.52% in 2025, 1.37% in 2026, 1.56% in 2027, and 1.41% in 2028. The Compounded Annual Growth Rate (CAGR) from 2023 to 2028 indicates an average annual decline of about 1.43%.
Future trends to watch for include:
- Potential impacts of technological advancements in recycling and material efficiency, which might offset declining trends.
- Changes in regional demand due to economic growth fluctuations or construction booms.
- Influence of environmental regulations on production and consumption patterns.
- Global supply chain disruptions that could affect availability and pricing.
