The forecasted consumption of iron and steel scrap at manufacturers in the South Atlantic region of the US indicates a gradual decrease from 2024 through 2028. In 2023, the consumption stood at 5.07 million metric tons. The year-on-year decline is consistent, with a decrease of approximately 1.81% annually when comparing 2024 to 2025, and slightly less in the subsequent years. The compound annual growth rate (CAGR) over the five-year forecast period from 2024 to 2028 reflects an average decrease of about 1.91% per year.

Future trends to watch for include:

Potential impacts of technological advancements on scrap utilization efficiency.
Regulatory changes affecting recycling practices and material availability.
Market dynamics resulting from shifts in the construction and automotive industries, which are significant consumers of steel products.