The forecasted scrap consumption in US blast furnaces is projected to rise from 3.39 million metric tons in 2024 to 3.68 million metric tons in 2028. In 2023, scrap consumption stood at an estimated 3.32 million metric tons. Year-on-year increases are observed, marking moderate growth. Over the last two years, these incremental increases reflect a steady rise in scrap usage.

From 2024 to 2028, the compound annual growth rate (CAGR) is projected to be 2.06%. This sustained growth indicates a gradual shift towards higher scrap utilization.

Future trends to watch include advancements in recycling technology, regulatory changes promoting sustainability, and fluctuations in raw material costs, which could impact scrap metal demand and consumption patterns further.