In 2023, the ending stocks of stainless steel scrap in the US stood at 157.15 thousand metric tons. The forecasted data indicates a consistent rise in stocks from 2024 through 2028, with year-on-year increases averaging around 1.92%. The compound annual growth rate (CAGR) from 2024 to 2028 is approximately 1.83%. This steady growth points towards a gradual expansion in the availability of stainless steel scrap over the forecast period.
Future trends to watch for include:
- Potential shifts in demand for stainless steel due to changes in major industries like automotive and construction.
- Economic policies influencing metal recycling incentives.
- Technological advancements in recycling processes that could impact stock levels and efficiency.
- Global market dynamics that may affect imports and exports of stainless steel scrap.
