In 2023, the ending stocks of ferrous scrap at iron foundries and miscellaneous users in the US were 192.0 thousand metric tons. Moving forward into the forecasted years, a declining trend is evident with ending stocks decreasing from 185.0 thousand metric tons in 2024 to 157.0 thousand metric tons in 2028. This represents a year-on-year decline averaging 3.8% from 2024 to 2028. The compounded annual growth rate (CAGR) over this period is also indicative of a declining market.

Future trends to watch for include:

Potential shifts in production efficiency of iron foundries impacting demand for ferrous scrap.
Regulatory changes affecting the recycling industry, which could alter supply dynamics.
Technological advancements in metallurgical processes that might reduce reliance on scrap.