The consumption of No. 1 Heavy-Melting Steel in the US from purchased and home scrap at iron foundries and miscellaneous users is forecasted to decrease from 2024 to 2028. From a volume of 51.42 thousand metric tons in 2024, it's projected to decline to 32.89 thousand metric tons by 2028. This indicates a consistent year-on-year reduction. Notably, the 2023 data shows a volume of 57.2 thousand metric tons, suggesting a continuous negative trend since then. Over five years, the compound annual growth rate (CAGR) reflects a declining pattern, amplifying concerns in this sector.
Future trends to watch for include:
- Potential improvements in recycling efficiency and technology at foundries.
- Emerging government regulations and environmental practices influencing scrap steel usage.
- Global steel market dynamics and economic factors affecting domestic demand.
Latest reports
US Steel Market Report- Q1 2025
The US steel market in Q1 2025 is navigating a complex landscape shaped by significant investments, evolving trade policies, and a strong focus...
China Steel Market Report- Q1 2025
In the first quarter of 2025, the steel market in China faced significant challenges and opportunities amid a volatile global economic landscape. The...
Japan Steel Market Report- Q4 2024
In the fourth quarter of 2024, the steel industry in Japan navigated a complex economic landscape characterized by declining production levels and fluctuating...
Germany Steel Market Report- Q1 2025
In the first quarter of 2025, the Germany steel industry is navigating complex economic and geopolitical landscapes. Pressured by high energy costs due...
India Steel Market Report- Q1 2025
In the first quarter of 2025, the steel industry in India has exhibited considerable dynamism, driven by both domestic and international factors. The...
France Steel Market Report- Q1 2025
The France steel market in Q1 2025 faced a challenging quarter characterized by a decline in production and a complex economic backdrop. The...
Canada Steel Market Report- Q1 2025
The first quarter of 2025 has been transformative for the Canadian steel market, characterized by significant changes in trade policies and market dynamics....
Brazil Steel Market Report- Q1 2025
The first quarter of 2025 has been a pivotal period for the Brazilian steel industry, marked by significant shifts in trade policies, sustainability...
Italy Steel Market Report- Q1 2025
The Italy steel market in the first quarter of 2025 is navigating a complex landscape characterized by fluctuating production and evolving market demands....
South Korea Steel Market Report- Q1 2025
The South Korean steel market is navigating a complex landscape in Q1 2025, influenced by global trade policies, domestic economic conditions, and technological...
