In 2023, the supply of iron and steel available for consumption in Iowa, Nebraska, and South Dakota stood at 2.60 million metric tons. The forecast for 2024 showcases a slight increase to 2.62 million metric tons, marking a consistent upward trend through to 2028, where it is expected to reach 2.72 million metric tons. Over this period, annual growth maintains an average Compound Annual Growth Rate (CAGR) of approximately 0.9%. This gradual increase reflects stable market dynamics and a modest rise in demand across these states.
Future trends to watch for include:
- Potential impacts of federal infrastructure investment on steel demand.
- The influence of new technological developments in steel manufacturing.
- Environmental regulations and their effects on supply and price stability.
