The forecast for iron and steel scrap consumption in the US shows a gradual decline from 53.48 million metric tons in 2024 to 51.43 million metric tons in 2028. This represents a cumulative decrease over the specified period. Assuming the consumption in 2023 stood at 54 million metric tons, the trend indicates a consistent year-on-year decrease.
Year-on-year variation suggests a slight contraction in consumption, with small percentage decreases each year. The compound annual growth rate (CAGR) over the last five years reflects a negative trend, emphasizing the gradual decline in scrap consumption.
Future trends to watch for include technological innovations in recycling processes, shifts in global steel production dynamics, and policies aimed at increasing sustainability in the supply chain, which could impact consumption levels either positively or negatively.
