The forecast for Direct-Reduced Iron consumption by manufacturers of pig iron, raw steel, and castings with blast furnaces in the US shows a steady increase from 2024 onwards. Starting at 3.83 million metric tons in 2024, the consumption is predicted to rise to 4.41 million metric tons by 2028. Since we are in 2024, the exact consumption for 2023 is not detailed, but the year-on-year increase indicates a healthy upward trend of approximately 3.5% annually over the forecast period.
Future trends to watch for include:
- Technological advancements in iron production reducing dependency on certain raw materials.
- Potential shifts in demand driven by economic, regulatory, or environmental factors.
- Global market dynamics impacting material costs and supply chains.
