The forecast for No. 1 Heavy-Melting Steel ending stocks at manufacturers of pig iron and raw steel and castings in the US shows a consistent decline from 2024 to 2028. In 2023, the stock stood at 248.00 thousand metric tons. The year-on-year percentage change from 2024 to 2025 is a decrease of approximately 4.0%, and from 2025 to 2026, the decline is around 4.1%. From 2026 to 2027, the decrease continues at 4.2%, and from 2027 to 2028, it drops further by about 4.3%. The Compound Annual Growth Rate (CAGR) over these five years would thus reflect an average decline of approximately 4.2% annually.
Future trends to watch for:
- Global demand shifts, potentially influenced by economic growth or decline in key steel-consuming sectors.
- Advancements in steel recycling and its impact on availability and demand for heavy-melting steel.
- Policy and regulatory changes affecting the steel industry's environmental impact.
