The consumption of purchased and home scrap in the US by electric furnaces, measuring one foot and under, was recorded at 5.4 million metric tons in 2023. Forecasted figures for the years 2024 to 2028 show a steady annual increase: 5.52 million in 2024, 5.7 million in 2025, 5.87 million in 2026, 6.04 million in 2027, and 6.2 million in 2028. The year-on-year growth rates are expected to be around 3.3% on average, indicating a progressive upward trend.

Future trends to watch for:

Increasing demand for sustainable practices could bolster scrap usage.
Technological advancements may enhance efficiency, impacting consumption levels.
Evolving regulatory landscapes and trade policies could influence scrap availability and cost.