In 2023, the iron and steel scrap consumption at iron foundries and miscellaneous users in the Mountain and Pacific regions of the US stood at approximately 125.6 Thousand Metric Tons. From 2024 onwards, a significant downward trend is observed with a year-on-year decrease of 13.5% between 2024 and 2025, followed by similar declines in subsequent years, culminating in a drastic drop of around 52.4% by 2028. The compound annual growth rate over this forecast period is approximately -16.4%, indicating substantial contraction in demand.
Future trends to watch for include global economic conditions influencing raw material utilization, technological advancements in recycling processes, and changing policy or regulatory environments that could impact the steel industry, particularly in regions with substantial manufacturing bases.
