Steel fell to 3,071 CNY/T on September 23, 2025, down 0.78% from the previous day. Over the past month, Steel's price has fallen 1.89%, and is down 2.01% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Steel - values, historical data, forecasts and news - updated on September of 2025.

In 2023, the price of fabricated structural steel in the United Kingdom has fallen by over ** percent. That came after the cost of that building material soared between 2020 and 2022. Most of that price increase happened in 2021, with a growth rate of **** percent that year. Structural steel is widely used for construction because it is durable, malleable, and strong, while also being cheaper than many other metals. For example, it is often used as a structural material for skyscrapers and other buildings, as well as for infrastructure. Why has the price of steel increased? Those price increases seen until 2022 have not just affected the UK, but many other countries around the world. For example, the cost of fabricated structural metal in the U.S. and that of structural steel and other steel products in Germany reached their highest growth rate in 2022. Supply chain disruptions along with a decrease in the global production of crude steel in 2020 were some of the main reasons for those price hikes in 2021. In addition to that, the price of iron ore, which is the main component of steel, and energy also had a strong impact on the final price of steel products those years. Largest steel producers In the past couple of years, China was by far the largest steel producer in the world, with a production volume that was well over ***** times higher than that of the second country in the ranking: India. Although the United States was also on that list along with Japan and Russia, it was not among the leading exporters of steel. The reason for that discrepancy is that a big share of the production in countries of the size of the U.S., China, and India goes to fill their own domestic needs. Meanwhile, **** of the ** companies with the highest output of steel came from China, with the rest coming from Luxembourg, Japan, South Korea, India, and the U.S.

After demand for steel dropped during the arrival of the COVID-19 pandemic in 2019, steel prices also took a hit. However, in 2021, hot-rolled coil (HRC) steel prices were projected to rebound to around *** U.S. dollars per metric ton—a ** percent recovery from the dip in prices that had continued into 2020. The U.S. market by the end of 2021 The United States is among the markets where hot-rolled coil (HRC) steel prices are the highest in the world. It was expected that U.S. steel distributors and producers, such as Nucor and United States Steel, would benefit from the steel tariffs on U.S. imports that came into effect in the spring of 2018. At the same time, U.S. imports from the countries subjected to the so-called Section 232 tariffs were projected to decline. By the end of 2021, Canada was the main country of origin for the U.S.’s imports for consumption of steel products. Impact on the Chinese market Even though a large part of China's steel exports to the United States had already been restricted through antidumping or countervailing duties, trade tensions put pressure on steel markets worldwide, including China. Chinese steel product imports amounted to ***** million U.S. dollars, making it the ninth country of origin for steel products in the United States. Overall, rolled steel was the seventh largest category of Chinese export goods in 2021, amounting to almost *** billion yuan (approximately ** billion U.S. dollars). This comes after China's steel sector had a drop in sales to its domestic auto sector in early 2019.

HRC Steel fell to 809.02 USD/T on September 22, 2025, down 0.37% from the previous day. Over the past month, HRC Steel's price has fallen 2.17%, but it is still 9.33% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. This dataset includes a chart with historical data for HRC Steel.

Graph and download economic data for Capital Costs for Manufacturing: Steel Product Manufacturing from Purchased Steel (NAICS 3312) in the United States (IPUEN3312C021000000) from 1988 to 2022 about cost, purchase, steel, NAICS, capital, IP, production, manufacturing, and USA.

Explore the factors influencing the price of steel per ton, including types of steel, global demand and supply dynamics, geopolitical events, and market conditions. Understand how these elements affect industries such as construction and manufacturing.

This statistic shows the monthly prices of U.S. flat rolled steel throughout 2018, with a breakdown by main product type. Flat rolled steel is often used in pipe work, boilers, and construction. Plate steel, which is a relatively thick product and used in shipbuilding, cost *** U.S. dollars per short ton at the start of 2018 in January.

Get the latest insights on price movement and trend analysis of Steel in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

In the second quarter of financial year 2025, the cost of a 16 mm steel bar in the Indian cities of Chennai and Hyderabad reached ** Indian rupees per kilogram. However, in Delhi, the steel was slightly more affordable. Compared to the previous year, there was a noticeable increase in steel prices across all cities. The significant uptick in the cost of steel in India towards the end of 2020, was believed to be a result of China’s increased demand for Indian iron ore. Crude steel India’s crude steel production has been growing steadily, with the basic oxygen furnace (BOF) being the preferred production method. While both private and public sector companies contribute to this production, the private sector, dominates the market. JSW Steel, in particular, has the highest production capacity in India, contributing significantly to the country’s position as the world’s second-largest producer of steel. Steel consumption in India Steel consumption in India has been on a steady rise, with the country’s rapid industrialization and development in sectors such as construction, automobile, and infrastructure. This upward trend in steel consumption is estimated to persist, with an annual growth rate of **** percent in fiscal year 2024.

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Carbon Steel Market Size 2025-2029

The carbon steel market size is valued to increase by USD 197.5 billion, at a CAGR of 3.3% from 2024 to 2029. Growing demand for construction industry will drive the carbon steel market.

Market Insights

APAC dominated the market and accounted for a 73% growth during the 2025-2029.
By End-user - Construction segment was valued at USD 405.20 billion in 2023
By Type - Low carbon steel segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 29.44 billion 
Market Future Opportunities 2024: USD 197.50 billion
CAGR from 2024 to 2029 : 3.3%

Market Summary

Carbon steel, a versatile alloy of iron and carbon, is a cornerstone of global industries due to its exceptional strength, durability, and cost-effectiveness. The market for carbon steel is driven by the burgeoning construction sector, which accounts for a significant portion of its demand. Infrastructure development projects, particularly in emerging economies, fuel the need for large quantities of carbon steel. Moreover, the increasing adoption of sustainable manufacturing practices has led to the steel industry's evolution, with carbon steel being a key material in the production of green steel through the electric arc furnace process. However, the market faces challenges, primarily due to the volatility of raw material prices. The prices of iron ore and coal, key inputs in steel production, can fluctuate significantly, impacting the profitability of steel manufacturers. A real-world business scenario illustrates this challenge. A large-scale steel producer aims to optimize its supply chain by securing long-term contracts with reliable suppliers for raw materials. This strategy enables the company to mitigate the risk of price volatility and maintain operational efficiency. In conclusion, the market is shaped by the growing demand from the construction industry, the adoption of sustainable manufacturing practices, and the challenges posed by raw material price volatility. Companies in this sector must navigate these factors to maintain profitability and competitiveness.

What will be the size of the Carbon Steel Market during the forecast period?

Get Key Insights on Market Forecast (PDF) Request Free SampleCarbon steel, a versatile alloy, continues to dominate various industries due to its strength, durability, and cost-effectiveness. Hot-rolled steel products undergo quenching and tempering, normalizing treatments, and annealing processes for enhanced properties. In pressure vessel design, carbon steel's low-temperature applications excel, while alloy steel alternatives cater to high-temperature applications. Sustainable manufacturing practices are increasingly integrated, focusing on cost optimization strategies, quality assurance systems, and supply chain management. In structural steel design, carbon steel's strength-to-weight ratio makes it a preferred choice. Compared to stainless steel, carbon steel offers a cost advantage in automotive steel applications. Stress relieving methods and coating application techniques further enhance its usability. Cold-rolled steel sheets and galvanized steel sheets cater to diverse industries, from construction to automotive. Surface hardening techniques, such as normalizing and quenching, ensure superior resistance to corrosion and wear. Metallographic analysis and welding procedures are essential for maintaining product integrity. Pipeline steel standards prioritize material selection criteria, ensuring safety and reliability. Failure analysis techniques help identify potential issues, preventing costly downtime. In summary, the market showcases continuous evolution, with trends focusing on sustainability, cost optimization, and enhanced performance. Companies prioritize compliance with industry standards, ensuring the delivery of high-quality products. By understanding these trends, businesses can make informed decisions regarding product strategy, budgeting, and overall operations.

Unpacking the Carbon Steel Market Landscape

Carbon steel, a key industrial material, offers superior yield strength properties due to its chemical composition control. Compared to low-carbon counterparts, high-strength low-alloy steels exhibit a 30% increase in tensile strength, enabling cost-effective solutions for structural applications. Microstructure examination through non-destructive testing methods, such as ultrasonic inspection, ensures compliance with steel pipe specifications and enhances production efficiency. Alloying elements, like manganese and chromium, enhance corrosion resistance, reducing waste and maintenance costs by 20%.

Residual stress measurement and fracture toughness testing are essential for ensuring mechanical properties data align with quality control standards. Heat treatment processes, including

This report uses the producer price index for steel mill products, averaging the growth in price for various types of steel, including bars, sheets, strips, plates and wires, of the hot-rolled and cold-rolled varieties. The index has a base year of 1982. Data is sourced from the Bureau of Labor Statistics and is presented as the equally weighted average of monthly figures.

Structural steel (FOB India) prices fell YoY in late 2023. From Oct ($598) to Dec ($515), consistent ~11-12% monthly drops were observed.

China Steel Industry: Selling and Distribution Cost data was reported at 29,019.480 RMB mn in 2010. This records an increase from the previous number of 22,726.130 RMB mn for 2009. China Steel Industry: Selling and Distribution Cost data is updated yearly, averaging 7,860.300 RMB mn from Dec 1995 (Median) to 2010, with 14 observations. The data reached an all-time high of 29,132.610 RMB mn in 2007 and a record low of 2,558.000 RMB mn in 1995. China Steel Industry: Selling and Distribution Cost data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Metal and Steel Sector – Table CN.WAH: Steel Industry: Financial Data.

Explore the factors influencing the cost of steel plates per pound, including market conditions, material grade, and processing requirements. Understand how global economic conditions and industry demand affect pricing, with carbon steel ranging from $0.30 to $1.00 per pound and stainless steel from $2.00 to $3.00. Stay informed for competitive pricing strategies.

Brazil Steel: Cost & Expenses data was reported at 101,177,175.000 BRL th in 2017. This records an increase from the previous number of 94,233,086.000 BRL th for 2016. Brazil Steel: Cost & Expenses data is updated yearly, averaging 91,269,907.000 BRL th from Dec 2007 (Median) to 2017, with 11 observations. The data reached an all-time high of 115,278,984.000 BRL th in 2015 and a record low of 59,171,044.000 BRL th in 2007. Brazil Steel: Cost & Expenses data remains active status in CEIC and is reported by Brazilian Institute of Geography and Statistics. The data is categorized under Brazil Premium Database’s Metal and Steel Sector – Table BR.WAI002: Iron and Steel Financial Data: Steel.

Explore how various factors like market demand, steel types, geopolitical events, and seasonal fluctuations affect steel costs, with current prices ranging from $0.30 to $1.50 per pound. Stay informed to make better purchasing decisions.

The global steel market, valued at approximately $908.68 billion in 2025, is projected to experience steady growth, exhibiting a compound annual growth rate (CAGR) of 2.8% from 2025 to 2033. This growth is fueled by several key drivers. Increased infrastructure development, particularly in emerging economies, necessitates substantial steel consumption for construction projects like bridges, buildings, and transportation networks. The burgeoning automotive industry, with its continuous demand for high-strength steel in vehicle manufacturing, further bolsters market expansion. Furthermore, the renewable energy sector's reliance on steel for wind turbine construction and solar panel infrastructure contributes significantly to market demand. However, fluctuations in raw material prices, particularly iron ore and coking coal, represent a significant challenge. Environmental regulations aimed at reducing carbon emissions from steel production also present restraints, potentially impacting production costs and profitability. While the market faces these challenges, technological advancements in steel production, such as the adoption of more efficient and environmentally friendly processes, are mitigating some of these concerns. The market is segmented by various steel types (e.g., carbon steel, stainless steel, alloy steel), application areas (e.g., construction, automotive, energy), and geographical regions. Major players like ArcelorMittal, Nippon Steel, and Baowu Steel Group dominate the market landscape, engaging in intense competition through technological innovation, cost optimization, and strategic acquisitions. The forecast period anticipates a steady rise in market size, driven by consistent global infrastructure investment and continued industrialization in developing nations. The competitive landscape is characterized by both large multinational corporations and regional players. The leading companies are constantly seeking to optimize production efficiency, diversify their product portfolio to cater to specific industry demands, and expand their geographic reach. Strategic mergers and acquisitions are prevalent, reflecting the consolidation trend within the industry. The global nature of the market necessitates navigating varying regulatory landscapes and economic conditions across different regions. Effective supply chain management, and technological advancements are crucial for companies to maintain competitiveness and profitability in the long term. Maintaining a sustainable approach to production, minimizing environmental impact, and adapting to shifting global economic conditions will be critical factors in determining success in this dynamic market.

Graph and download economic data for Unit Labor Costs for Manufacturing: Iron and Steel Mills and Ferroalloy Production (NAICS 3311) in the United States (IPUEN3311U101000000) from 1988 to 2024 about ferroalloy, iron, unit labor cost, mills, steel, NAICS, IP, production, manufacturing, and USA.

Why did the Steel Plate Price Change in July 2025? The Steel Plate Price Index in the USA increased by 3.2% quarter-over-quarter in Q2 2025. The rise was driven by supply tightening following reduced mill output and a modest recovery in end-user demand from construction and machinery segments.

Track mild steel price trends with monthly, quarterly, and yearly data for 2024–2025. Get accurate forecasts, regional price updates, and key market insights to stay ahead with Nexizo.