Steel fell to 3,112 CNY/T on August 22, 2025, down 0.32% from the previous day. Over the past month, Steel's price has fallen 2.99%, but it is still 3.87% higher than a year ago, 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 August of 2025.

Iron and steel scrap prices in the United States stood at around *** U.S. dollars per metric ton in 2024, down from *** dollars per ton a year earlier. This is the fourth consecutive annual decrease recorded. Steel scrap consumption The majority of domestic steel industry scrap consumption is from manufacturers of raw steel, and steel castings. These raw materials are used to produce steel products that are used for appliances, construction, machinery, and transportation, among other industry uses. Only small amounts of steel scrap were used for the production of ferroalloys, copper precipitation, and the chemical industry. Recycling scrap Recycled iron and steel scrap materials have been essential for the production of new steel and cast iron products. Vehicles are one of the largest sources of old steel scrap used for recycling and nearly 100 percent of cars are recycled for their scrap material. It is expected that the recycling rate for scrap materials from appliances and construction purposes should rise, especially as public interest for recycling grows and profitability increases.

Copper rose to 4.46 USD/Lbs on August 22, 2025, up 0.40% from the previous day. Over the past month, Copper's price has fallen 23.30%, but it is still 6.14% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Copper - values, historical data, forecasts and news - updated on August of 2025.

United States - Producer Price Index by Commodity: Metals and Metal Products: Carbon Steel Scrap (DISCONTINUED) was 449.49900 Index Dec 1986=100 in May of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Metals and Metal Products: Carbon Steel Scrap (DISCONTINUED) reached a record high of 762.10900 in November of 2021 and a record low of 109.40000 in January of 2002. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Commodity: Metals and Metal Products: Carbon Steel Scrap (DISCONTINUED) - last updated from the United States Federal Reserve on July of 2025.

The annual producer price index of nonferrous scrap in the United States averaged ***** in 2023, with 1982 used as the base year (1982 = 100). This represented a **** decrease in comparison to 2021, which saw a record-high price index, at *****.

The wholesale of used and residual materials has been subject to highly volatile developments over the past five years. In addition to important customer markets such as the recycling industry, steel and iron foundries and steel producers, the price of steel in particular has been very volatile over the past five years and was one of the reasons for the industry's highly volatile sales. Another key reason for the very high sales volatility was the coronavirus crisis. In 2020, demand for industry products collapsed due to the pandemic and only lower prices could be realised for them. Since 2021, however, the industry has benefited from a sharp rise in raw material prices. Due to economic catch-up effects, there was a significant increase in demand for materials such as steel and non-ferrous metals from various sectors, including construction, the automotive industry, mechanical engineering and the consumer goods industry. In 2021, prices for key raw materials for metal production such as iron ore and coking coal also rose sharply. This drove up the prices of metals; the price of steel alone rose by 110% in 2021 compared to the previous year. Prices for steel scrap, an important product area in the industry, also rose due to increased demand and limited supply. This was reflected in strong sales growth.Industry turnover therefore increased by an average of 4.6% per year between 2020 and 2025. However, the industry's turnover has been declining again since 2022. This is mainly due to falling raw material prices and an economic downturn in key customer industries, which consequently require fewer used materials for their production. Industry turnover in 2025 is expected to fall by a further 2.2% to €14.9 billion. The industry is currently characterised primarily by volatile commodity prices, such as the global market price for steel or copper, as well as the development of the industry's production volume. The current decline in steel prices is having a particularly negative effect on the industry, as trading in steel scrap accounts for a large proportion of turnover.Over the next five years, IBISWorld expects industry turnover to grow by an average of 1.8% per year to €16.3 billion in 2030. The industry is primarily faced with the challenge that many newly manufactured products, such as cars, are becoming increasingly complex, making it more and more difficult for industry players to simply dismantle them, and products are therefore increasingly being delivered directly to recycling service providers. This is the main reason why the number of companies and employees in the sector is expected to trend downwards over the next five years.

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Iron and Steel (WPU101) from Jan 1926 to Jul 2025 about iron, steel, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

United States - Producer Price Index by Commodity: Metals and Metal Products: Iron and Steel Scrap (DISCONTINUED) was 554.20000 Index 1982=100 in July of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Metals and Metal Products: Iron and Steel Scrap (DISCONTINUED) reached a record high of 827.19300 in November of 2021 and a record low of 64.60000 in January of 1973. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Commodity: Metals and Metal Products: Iron and Steel Scrap (DISCONTINUED) - last updated from the United States Federal Reserve on August of 2025.

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Yellow Brass Scrap (WPU10230103) from Dec 1986 to Jul 2025 about metals, commodities, PPI, inflation, price index, indexes, price, and USA.

The global sales of recycled scrap metal is estimated at USD 75.5 billion in 2025. Revenue is projected to rise steadily at a CAGR of 7.1% from 2025 to 2035, reaching USD 149.9 billion by the end of the forecast period.

Metric	Value
Industry Size (2025E)	USD 75.5 billion
Industry Value (2035F)	USD 149.9 billion
CAGR (2025 to 2035)	7.1%

Analyzing Recycled Scrap Metal Market by Top Investment Segments

Metal Type	Value Share (2035)
Ferrous Metals	72.5%

Metal Type	Value Share (2035)
Building & Construction	15.6%

Semi-annual Update

Particular	Value CAGR
H1	6.1% (2024 to 2034)
H2	7.5% (2024 to 2034)
H1	6.5% (2025 to 2035)
H2	7.7% (2025 to 2035)

Country-wise Insights

Countries	Value CAGR (2025 to 2035)
USA	6.5%
UK	7.9%
China	6.9%
Japan	7.3%
India	7.6%

United States PPI: Weights: MM: IS: IR: Stainless & Other Alloy Steel Scrap data was reported at 0.036 % in 2024. This stayed constant from the previous number of 0.036 % for 2023. United States PPI: Weights: MM: IS: IR: Stainless & Other Alloy Steel Scrap data is updated yearly, averaging 0.029 % from Dec 2007 (Median) to 2024, with 18 observations. The data reached an all-time high of 0.051 % in 2021 and a record low of 0.010 % in 2015. United States PPI: Weights: MM: IS: IR: Stainless & Other Alloy Steel Scrap data remains active status in CEIC and is reported by U.S. Bureau of Labor Statistics. The data is categorized under Global Database’s United States – Table US.I068: Producer Price Index: by Commodities: Weights.

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.

The Metal Recycling industry in China has grown over the past five years. Industry revenue is expected to rise at an annualized 1.4% over the five years through 2024, to $58.8 billion. This trend includes anticipated growth of 2.0% in the current year. Although growth in the Chinese economy has slowed, rising urbanization has raised demand for industry products and services. Large downstream markets like automobile, and equipment & machinery manufacturing sectors have continued to develop and driven industry growth over the period. Prior to the current five-year period, industry revenue growth slowed as the effects of government controls on the real estate sector reduced both demand and supply for scrap metals.This industry has low margins and high purchase costs. Margins depend on a variety of factors, including world steel prices, scrap metal prices and downstream demand from major markets like construction. Profit has increased slightly over the past five years and is expected to account for 5.7% of industry revenue in 2024. Since 2021, the Government has issued the Guiding Opinions on Accelerating the Establishment and Improvement of a Green and Low Carbon Recycling Development Economic System, the Fourteenth Five Year Industrial Green Development Plan and the Fourteenth Five Year Industrial Development Plan for Raw Materials. The policy clearly requires strengthening the recycling of renewable resources.Industry revenue is projected to grow at an annualized rate of 1.4% over the five years through 2029 to $63.2 billion. Ongoing urbanization, new construction in rural areas, and government assistance to the industry are anticipated to be the main drivers of growth. Competing imports have a positive impact on both environmental protection and economic benefits. Importing scrap metals can increase domestic metal resource reserves. This can also reduce the mining of ores and protect nature. Competing imports are estimated to increase at an average rate of 6.5% in the next five years. As recycling technology in China for waste resources becomes increasingly advanced, exports will decrease. Exports are expected to decrease at an average rate of 2.1% in the next five years.

In 2024, iron ore was worth an average of approximately *** U.S. dollars per dry metric ton unit (dmtu), compared to only ** U.S. dollars per dmtu in 2000. The month with the highest average iron ore price in 2021 was June, at over *** U.S. dollars per dmtu. Iron ore: market context and price fluctuation Iron ore is composed of minerals and rocks from which metallic iron can be extracted. Iron ore is an important part of the world economy, as a large proportion of iron ore is used to make steel, which is a widely used material globally. In a given year, the monthly price of iron ore varies noticeably, ranging for example from a high of ****** U.S. dollars per dmtu in June 2021 down to a low of ***** U.S. dollars per dmtu in November 2021. Major iron ore producing nations Australia has the world's largest iron ore reserves, at ** billion metric tons of crude iron ore and is also the world's largest producer of iron ore. Not surprisingly, China, the world's leading steel manufacturer, is also the world's leading importer of iron. In recent years, China's iron imports have increased significantly, from ****** million metric tons in 2004, to over *** billion metric tons in 2018.

Snapshot img

Stainless Steel Market Size 2023-2027

The stainless steel market size is forecasted to increase by 10,299.64 thousand tons at a CAGR of 3.38% between 2022 and 2027. Market growth relies on various factors, notably the increased consumption of high-strength stainless steel, propelled by its corrosion resistance and excellent mechanical properties. Additionally, economic expansion in China and India contributes significantly to market growth. As these nations continue to develop industrially and infrastructurally, the demand for stainless steel, particularly for construction and manufacturing applications, is expected to rise. This confluence of factors positions the market for substantial growth in the foreseeable future. Furthermore, the stainless steel market analysis report includes historic market data from 2017 to 2021. The stainless steel market forecast indicates robust expansion, driven by increasing demand for steel across various industries. The stainless steel market size growth is propelled by advancements in production technologies and the rise of sustainable manufacturing practices. Current stainless steel market trends show a surge in applications, particularly in construction and automotive sectors, underscoring its vital role in modern infrastructure.

What will be the Size of the Stainless Steel Market During the Forecast Period?

To learn more about this stainless steel market report, Download Report Sample

Stainless Steel Market Segmentation

The stainless steel market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in 'USD Million' for the period 2023 to 2027, as well as historical data from 2017 to 2021 for the following segments

End-user Outlook 

  Metal products
  Mechanical engineering
  Automobile and transportation
  Infrastructure and construction
  Electrical engineering





Product Outlook

  Flat
  Long





Region Outlook

  North America

    The US
    Canada


  Europe

    The UK
    Germany
    France
    Rest of Europe


  APAC

    China
    India


  Middle East and Africa

    Saudi Arabia
    South Africa
    Rest of the Middle East and Africa


  South America

    Argentina
    Brazil
    Chile

By End-user

The market share growth by the metal products segment will be significant during the forecast period. The use of stainless steel in metal products provides an aesthetic appeal, extensive textures, strength, functionality, corrosion resistance properties, and ease of cleaning properties such products, driving the growth of steel manufacturing. The demand for stainless steel for manufacturing metal products is high due to its ease of fabrication and mechanical properties.

Get a glance at the market contribution of various segments. Request PDF Sample

The metal products segment showed a gradual increase in the market share of 20,426.71 thousand t in 2017. Stainless steel is used in jewelry, belt buckles, clips, casings, watch straps and backs, cooker hoods, outdoor kitchen cabinets, worktops, drainers, sinks, and others. It is also used in kitchen vessels due to its hygiene properties, durability, and resilience to food discoloration and spoilage. The shift in consumer preference toward hygienic and easy-to-clean products is likely to increase the demand for stainless steel in metal products during the forecast period.

By Region

For more insights on the market share of various regions, Request PDF Sample now!

APAC is estimated to account for 76% of the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. APAC has some of the largest stainless steel-producing countries in the world, such as China, Japan, South Korea, and India. China was the largest producer and consumer of stainless steel in 2020. Manufacturers are shifting to the consumption of scrap steel and stainless steel as raw materials to reduce pollution as well as manufacturing costs. These factors will drive the growth of the market in APAC during the forecast period.

Stainless Steel Market Dynamics

The market plays a vital role across various sectors, including residential housing, building & construction, railways, and automotive & transportation. Its resistance to corrosion surpasses that of carbon steel, making it a preferred choice. Renowned companies like Jindal Steel and Daido Steel contribute to its production capacities. Stainless steel finds applications in diverse architectural elements such as railings, roofing, and staircases, offering both pliability and appealing aesthetic properties. Moreover, it serves industrial needs like heat exchangers and tubulars, alongside providing swimming pool shades, canopies, and atriums with durability and low maintenance cost during repair and re

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Solids and Clippings, New Aluminum Base Scrap (WPU10230201) from Dec 1986 to Nov 2021 about aluminum, metals, new, commodities, PPI, inflation, price index, indexes, price, and USA.

Raw materials price index (RMPI) by North American Product Classification System (NAPCS) 2017 Version 2.0. Monthly data are available from January 1981. The table presents data for the most recent reference period and the last four periods. The base period for the index is (202001=100).

Gold and silver prices increased over the course of 2021, but these did not grow as fast as the prices of iridium and, especially, rhodium. According to a comparison of price indices, the price for rhodium - a precious metal similar to platinum and used especially in catalytic converters of cars - was ten times higher in April 2021 than it was in January 2019. The price hike for rhodium was apparently caused by coronavirus-related lockdowns implemented in South Africa, where mining companies had to close for several weeks.

Aluminum rose to 2,622.55 USD/T on August 22, 2025, up 1.15% from the previous day. Over the past month, Aluminum's price has fallen 0.87%, but it is still 3.17% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Aluminum - values, historical data, forecasts and news - updated on August of 2025.

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.