In 2023, the consumption of iron and steel scrap by manufacturers in Iowa, Kansas, Minnesota, Missouri, Nebraska, South Dakota, and Wisconsin stood at approximately 3.30 million metric tons. Forecasts from 2024 to 2028 indicate a steady increase, suggesting consumption will rise from 3.32 million metric tons in 2024 to 3.39 million metric tons by 2028. This represents minor year-on-year increases of about 0.6% to 0.3%, with a five-year CAGR of around 0.4%, reflecting stable demand and limited volatility in these markets.
Trends to watch for include technological advancements in recycling and changes in steelmaking processes, potentially influencing future scrap consumption. Additionally, shifts in global steel demand and policies impacting sustainable practices may alter regional consumption patterns.
