The forecast for home-generated obsolete iron and steel scrap in New England and the Middle Atlantic anticipates a slight but steady decline from 2024 to 2028, beginning at 65.24 thousand metric tons in 2024 and decreasing to 63.09 thousand metric tons by 2028. The year-on-year decrease ranges around 0.8% to 0.9%. This trend reflects a compound annual growth rate (CAGR) of approximately -0.8% over this five-year period from 2024.
In 2023, the volume of obsolete iron and steel scrap stood at 65.24 thousand metric tons, establishing a peak before the forecasted decline. Future trends to monitor include technological advancements in recycling processes, regulatory changes affecting scrap recovery, and fluctuations in demand for recycled steel which could alter the current trajectory.
