The consumption of iron and steel scrap by manufacturers of pig iron and raw steel in the South Central U.S. is projected to increase steadily from 2024 to 2028. In 2023, the actual consumption stood at 17.95 million metric tons. From 2023 to 2024, the year-on-year increase is projected to be approximately 0.39%. The following yearly increments hover around 0.39% to 0.44%. Over the five-year period from 2023 to 2028, the compound annual growth rate (CAGR) is forecasted to be around 0.4%, indicating a gradual enhancement in scrap consumption.

Future trends to watch for:

Technological advancements in recycling processes impacting scrap utilization.
Fluctuations in global demand for steel influencing local markets.
Environmental regulations affecting scrap sourcing and steel production.
Potential shifts in infrastructure projects and industrial activities driving scrap demand.