From 2015 to 2019, consumer stocks of cast iron in Minnesota and Wisconsin showed a consistent declining trend, dropping from 6.58 thousand metric tons to 1.37 thousand metric tons. This represents a significant year-on-year reduction, particularly pronounced between 2017 and 2019. The compound annual growth rate (CAGR) over this five-year period underscores a substantial decrease in consumer stocks.
In 2023, the continuation of this trend can be inferred before considering forecasts. Looking forward:
- Monitor any technological advancements or changes in consumer preferences that might revive the demand for cast iron.
- Watch for economic conditions or policy changes affecting the manufacturing and construction sectors, as these are principal consumers of cast iron.
- Consider international trade dynamics and competition, which could impact local stock levels and pricing.