The consumption of Direct-Shipping Ore in US steelmaking furnaces is forecasted to increase from 2024 to 2028. Starting at 1.75 million metric tons in 2024, it is expected to reach 2.01 million metric tons by 2028. In 2023, actual consumption was slightly below this forecast, marking a clear upward trend. Year-on-year growth is seen with percentages ranging modestly each year, culminating in a compound annual growth rate (CAGR) over the five-year period.

Future trends to watch for include:

Potential shifts in global steel demand, affecting ore consumption.
Technological advances in steelmaking that might alter raw material requirements.
Environmental regulations that could impact ore usage.
Market dynamics such as international trade policies influencing supply chains.