In 2023, iron and steel scrap consumption at manufacturers of pig iron, raw steel, and castings in Michigan stood at 2.4 million metric tons. From 2024 to 2028, consumption is forecasted to show a marginal average annual increase, reflected by a Compounded Annual Growth Rate (CAGR) of approximately 0.2%. Over these years, consumption is expected to slightly rise from 2.4 to 2.42 million metric tons.

Future trends to watch for include:

Technological advancements that could boost recycling efficiencies, potentially increasing scrap usage.
Regulatory changes impacting steel production standards and scrap utilization.
Market demand fluctuation for steel products affecting scrap consumption.