The shipments of alloy steel scrap in the US have shown a consistent decline from 2015 to 2019, with values dropping from 4.66 to 2.2 thousand metric tons, reflecting the challenges in the industry. The compound annual growth rate (CAGR) over these five years was negative, indicating a shrinking market. While more of the same pattern is expected for 2024, it's essential to note the sharp year-on-year decline rates to plan strategically for future operations.

In 2023, the situation stood as a continuation of the downward trend, setting a precedent for cautious forecasting ahead.

Future trends to watch for include:

Fluctuations in global demand for alloy steel, influenced by macroeconomic factors and trade policies.
Technological advancements in recycling and production processes that could alter supply.
Environmental regulations potentially impacting production and recycling industries.