Steel decreased 101 Yuan/MT or 3.05% since the beginning of 2025, 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 March of 2025.

Graph and download economic data for Global price of Metal index (PMETAINDEXM) from Jan 1992 to Feb 2025 about World, metals, indexes, and price.

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 555 U.S. dollars per metric ton—a 15 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 717.7 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 529 billion yuan (approximately 82 billion U.S. dollars). This comes after China's steel sector had a drop in sales to its domestic auto sector in early 2019.

In the fourth quarter of 2023, the price of the flat steel in the USA reached 3479 USD/MT by December. Similarly, in China, the flat steel prices hit 1858 USD/MT in the same month. The Germany also saw flat steel prices reaching 3125 USD/MT during Q4 2023.

Explore IMARC’s newly published report, titled “Flat Steel Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of flat steel pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

HRC Steel increased 180.96 USD/T or 25.52% since the beginning of 2025, 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.

This statistic shows steel scrap prices worldwide between the 2013 and 2016 calendar years, and gives a forecast through 2021. In 2018, it is expected that the price of steel scrap will come to around 197 U.S. dollars per metric ton.

The stainless steel prices in the United States for Q3 2024 reached 3985 USD/MT in September. The USA faced rise in prices driven by robust demand for stainless steel from sectors like automotive and construction. Despite challenges like increased imports and global market uncertainties, the pricing environment displayed strong upward momentum.

Explore IMARC’s newly published report, titled “Stainless Steel Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” offers an in-depth analysis of stainless steel pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

Steel Market size was valued at USD 1245.33 Billion in 2024 and is projected to reach USD 2085.37 Billion by 2031, growing at a CAGR of 2.25% from 2024 to 2031.

Global Steel Market Drivers

“Global Economic Growth: As steel is a necessary component of many industries, including manufacturing, infrastructure, and construction, economic growth usually results in higher demand for the metal. Steel has historically been in high demand due to the robust economic expansion in emerging economies, especially in nations like China and India.

Infrastructure Development: A significant amount of steel is needed for infrastructure projects like utilities, roads, bridges, railroads, and airports. The construction of infrastructure through government programmes can greatly increase the demand for steel.

Urbanisation and Industrialization: The need for steel is driven by the fast-paced urbanisation and industrialization occurring in developing nations. Steel is used in the construction and manufacturing of machinery, equipment, and residential and commercial buildings.

Automotive Industry: Especially for car bodywork, chassis, and other components, the automotive industry is a significant consumer of steel. The demand for steel may rise in response to increases in auto sales and manufacturing.

Construction Sector: A sizeable amount of steel consumption is accounted for by construction activities, which include residential, commercial, and industrial construction. Government infrastructure expenditure, urbanisation trends, and population expansion all have an impact on demand in the building industry.

Energy Sector: Pipelines, offshore platforms, and power generation facilities are just a few examples of the infrastructure in which steel is crucial. Steel consumption may be influenced by an increase in power infrastructure, oil and gas exploration, and renewable energy initiatives.

Metal and Steel Price: Delhi: Cold Rolled Coils 0.63 mm data was reported at 65,940.000 INR/Metric Ton in Feb 2025. This records a decrease from the previous number of 69,620.000 INR/Metric Ton for Jan 2025. Metal and Steel Price: Delhi: Cold Rolled Coils 0.63 mm data is updated monthly, averaging 48,780.000 INR/Metric Ton from Aug 2003 (Median) to Feb 2025, with 255 observations. The data reached an all-time high of 96,760.000 INR/Metric Ton in Apr 2022 and a record low of 25,300.000 INR/Metric Ton in Oct 2003. Metal and Steel Price: Delhi: Cold Rolled Coils 0.63 mm data remains active status in CEIC and is reported by Joint Plant Committee. The data is categorized under India Premium Database’s Metal and Steel Sector – Table IN.WAC008: Metal and Steel Retail Prices: New Delhi: Monthly.

The globalsteel marketsize reached US$ 1,823.5 billion in 2022. Over the forecast period, global steel demand is anticipated to rise at 4.4% CAGR. Total market revenue is set to increase from US$ 1,893.9 billion in 2023 to US$ 2,901.9 billion in 2033.

2018 to 2022 Steel Market Outlook Vs. 2023 to 2033 Forecast

Country-wise Insights

Category-wise Insights

Steel Industry Research Scope

The price of stainless steel plate in USA reached 3483 USD/MT during December 2023. Whereas, in the Chinese market the stainless steel plate price reached 1856 USD/MT in the fourth quarter in 2023. However, the price in Germany reached 3128 USD/MT in December 2023.

Explore the complex factors influencing steel prices, including supply and demand dynamics, geopolitical influences, and environmental regulations, with insights into recent trends and future outlook amid recovery from COVID-19 disruptions.

In 2024, the United States' stainless steel exports amounted to approximately 542,730 metric tons, up from 361,810 metric tons registered in the previous year. The export volume of the country decreased by 39 percent between 2014 and 2024.

China Transaction Price: 36 City Avg: Round Steel: 20mm, Q235 data was reported at 3,825.710 RMB/Ton in Jan 2025. This records a decrease from the previous number of 3,858.110 RMB/Ton for Dec 2024. China Transaction Price: 36 City Avg: Round Steel: 20mm, Q235 data is updated monthly, averaging 4,149.535 RMB/Ton from Apr 2008 (Median) to Jan 2025, with 202 observations. The data reached an all-time high of 5,952.500 RMB/Ton in May 2021 and a record low of 2,215.000 RMB/Ton in Feb 2016. China Transaction Price: 36 City Avg: Round Steel: 20mm, Q235 data remains active status in CEIC and is reported by Price Monitoring Center, NDRC. The data is categorized under China Premium Database’s Price – Table CN.PA: Price Monitoring Center, NDRC: Transaction Price: Production Material: Steel.

The electrical steel prices in the United States for Q3 2024 reached 5895 USD/MT in September. The prices of electrical steel in the country exhibited a sustained upward trajectory throughout Q3, reflecting a favorable market environment. Year-over-year price growth highlighted this positive momentum, with prices increasing in the second half of Q3 in comparison to the first.

United States PPI: Metals: Iron & Steel (IS) data was reported at 242.800 1982=100 in Jun 2018. This records an increase from the previous number of 240.700 1982=100 for May 2018. United States PPI: Metals: Iron & Steel (IS) data is updated monthly, averaging 37.800 1982=100 from Jan 1926 (Median) to Jun 2018, with 1110 observations. The data reached an all-time high of 294.400 1982=100 in Aug 2008 and a record low of 8.500 1982=100 in May 1933. United States PPI: Metals: Iron & Steel (IS) data remains active status in CEIC and is reported by Bureau of Labor Statistics. The data is categorized under Global Database’s USA – Table US.I017: Producer Price Index: By Commodities.

China Transaction Price: 36 City Avg: Stainless Steel: 1.0, 304/2B Cold Roll data was reported at 15,314.720 RMB/Ton in Jan 2025. This records a decrease from the previous number of 15,410.900 RMB/Ton for Dec 2024. China Transaction Price: 36 City Avg: Stainless Steel: 1.0, 304/2B Cold Roll data is updated monthly, averaging 17,612.690 RMB/Ton from Apr 2008 (Median) to Jan 2025, with 202 observations. The data reached an all-time high of 33,048.000 RMB/Ton in May 2008 and a record low of 13,029.000 RMB/Ton in Feb 2016. China Transaction Price: 36 City Avg: Stainless Steel: 1.0, 304/2B Cold Roll data remains active status in CEIC and is reported by Price Monitoring Center, NDRC. The data is categorized under China Premium Database’s Price – Table CN.PA: Price Monitoring Center, NDRC: Transaction Price: Production Material: Steel.

The Platts Market Data - Metals dataset provides over 2,400 ferrous steel, steel raw materials, and nonferrous metals prices and indicators from all global regions.

In the fourth quarter of 2023, the price of the mild steel plate in Japan reached 856 USD/MT (Mild Steel (JIS 3101-10 mm) Plate) by December.

Explore IMARC’s newly published report, titled “Mild Steel Plate Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of mild steel plate pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

In 2024, the United States' stainless steel producz imports amounted to approximately 917,000 metric tons, up from around 830,000 metric tons registered in the previous year. The import volume of the country decreased by 14 percent between 2014 and 2024.