The forecast for iron and steel scrap consumption in manufacturing pig iron and raw steel castings across the Northeast states is relatively stable from 2024 to 2028, with minor incremental growth each year. Starting from 1.86 million metric tons in 2024, the consumption shows a slight increase, reaching 1.88 million metric tons by 2028. Given that the data for 2023 was not provided, comparisons focus on the forecasted growth.
- Year-on-year growth is almost stagnant, with a negligible increase of approximately 0.54% annually.- Over the five-year period from 2024 to 2028, a CAGR close to 0.27% is anticipated.
Future trends to watch for include potential shifts in manufacturing processes towards more sustainable practices that could augment or reduce scrap consumption. Additionally, global economic conditions and steel market dynamics might impact regional demand and consumption patterns in these states.
