Steel traded flat at 3,050 CNY/T on July 4, 2025. Over the past month, Steel's price has risen 3.74%, but it is still 9.47% lower 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 July of 2025.

China Transaction Price: 36 City Avg: Stainless Steel: 2.0, 304/2B Cold Roll data was reported at 15,097.180 RMB/Ton in Mar 2025. This records a decrease from the previous number of 15,170.080 RMB/Ton for Feb 2025. China Transaction Price: 36 City Avg: Stainless Steel: 2.0, 304/2B Cold Roll data is updated monthly, averaging 16,515.000 RMB/Ton from Dec 2011 (Median) to Mar 2025, with 160 observations. The data reached an all-time high of 22,569.000 RMB/Ton in Jan 2012 and a record low of 13,381.000 RMB/Ton in Dec 2015. China Transaction Price: 36 City Avg: Stainless Steel: 2.0, 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: 36 City Monthly Avg: Transaction Price: Production Material.

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Steel Pipe and Tube, Stainless Steel (WPU10170674) from Dec 2010 to May 2025 about steel, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

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

United States - Producer Price Index by Commodity: Metals and Metal Products: Steel Pipe and Tube, Stainless Steel was 140.87600 Index Dec 2010=100 in May of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Metals and Metal Products: Steel Pipe and Tube, Stainless Steel reached a record high of 169.93400 in May of 2022 and a record low of 88.60000 in September of 2016. 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: Steel Pipe and Tube, Stainless Steel - last updated from the United States Federal Reserve on July of 2025.

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

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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?

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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.

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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

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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 renovation

Explore the factors influencing the price of 304 stainless steel, including market demand, raw material costs, geopolitical influences, and supply chain disruptions. Understand how economic shifts and commodity fluctuations impact this widely used material in industries such as construction and automotive.

Graph and download economic data for Producer Price Index by Industry: Material Recyclers: Stainless and Alloy Steel Scrap (PCU42993042993012) from Dec 1986 to May 2025 about materials, steel, PPI, industry, inflation, price index, indexes, price, and USA.

The Wholesale Price Index of semi finished stainless steel across India during financial year 2024 was around 136. The price index of stainless steel increased by about 36 percent from the base financial year of 2012. A huge increase in the index value of the stainless steel was seen in 2022.

United States - Producer Price Index by Industry: Material Recyclers: Stainless and Alloy Steel Scrap was 588.47200 Index Dec 1986=100 in May of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Material Recyclers: Stainless and Alloy Steel Scrap reached a record high of 1153.78500 in March of 2022 and a record low of 83.60000 in November of 2001. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Material Recyclers: Stainless and Alloy Steel Scrap - last updated from the United States Federal Reserve on July of 2025.

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Stainless Steel 400 Series Market Size 2024-2028

The stainless steel 400 series market size is forecast to increase by USD 11.49 billion at a CAGR of 6.67% between 2023 and 2028.

The market is experiencing significant growth due to several key factors. The economic expansion in China and India is driving demand for this type of stainless steel, as it is widely used in various industries In these countries. Additionally, the increased penetration of the stainless steel 400 series in industrial applications, such as chemical processing and power generation, is contributing to market growth. The market is seeing increased demand due to its use in cladding applications, offering a combination of strength, corrosion resistance, and aesthetic appeal for various architectural and industrial projects. However, the market is also facing challenges, including the volatility of raw material prices, which can impact the cost-effectiveness of producing and using the stainless steel 400 series. Producers must carefully manage their supply chains and production costs to remain competitive In the market. Overall, the market is expected to continue growing due to its versatility, durability, and increasing demand from various end-use industries.

What will be the Size of the Stainless Steel 400 Series Market During the Forecast Period?

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The market encompasses a diverse range of corrosion-resistant alloys, primarily composed of iron, chromium, nickel, molybdenum, and other elements. These alloys, including 304 and 316 stainless steels, are renowned for their strength, durability, and resistance to various environmental conditions. The market for Stainless Steel 400 series alloys serves numerous industries, including consumer goods, such as cutlery and kitchen appliances, automotive components, industrial equipment, construction, and architectural applications. Applications span from handrails and drainage systems to roofing and cladding, reflecting the versatility of these materials. The market has experienced steady growth, driven by increasing demand for sustainable and long-lasting materials in various sectors.
Raw material prices, particularly chromium and nickel, have influenced market dynamics, but the overall trend remains positive. As the demand for stainless steel continues to grow, its usage extends beyond traditional industries to emerging sectors like renewable energy and electric vehicles. The market is expected to maintain its momentum, offering significant opportunities for manufacturers and end-users alike.

How is this Stainless Steel 400 Series Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

End-user

  Consumer goods
  Mechanical engineering and heavy industries
  Automotive and transportation
  Building and construction
  Others


Product Type

  Plate and sheet
  Bar and tubular
  Structural


Geography

  APAC

    China
    India
    Japan
    South Korea


  Europe



  North America

    US


  Middle East and Africa



  South America

By End-user Insights

The consumer goods segment is estimated to witness significant growth during the forecast period.

The market encompasses a diverse range of materials, primarily composed of iron, chromium, and nickel. These corrosion-resistant alloys are widely used in various industries, including consumer goods, automotive components, industrial equipment, construction, and architectural cladding. The 400 series stainless steels, specifically 304 and 316, offer superior corrosion resistance and are commonly utilized in cookware, kitchen sinks, ornamental items, automotive parts, consumer electronics, and building and construction. The cost-effectiveness, high strength, and durability of the 400 series stainless steels make them an attractive choice for manufacturers. These alloys are fabricated using advanced refining methods, such as vacuum induction melting, electro slag refining, and computational modeling, ensuring consistent alloy compositions.

Molybdenum additions enhance the corrosion resistance of these alloys, making them suitable for demanding applications. The 400 series stainless steels cater to various industries, including automotive and transportation, mechanical engineering, heavy industries, aerospace, and home components. In export-oriented economies, the demand for these alloys is significant due to their versatility and superior performance. The market is expected to grow due to its extensive applications and the increasing demand for high-performance materials.

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The Consumer goods segment was

Stainless steel prices fell in 2024 due to oversupply and weak demand; 2025 outlook signals further declines amid market saturation.

The global stainless steel angle market is experiencing robust growth, driven by increasing demand from diverse sectors such as construction, automotive, and manufacturing. While precise market size figures for 2025 are not provided, a logical estimation based on industry trends and the availability of similar steel product market data suggests a 2025 market value in the range of $5-7 billion USD. Assuming a conservative Compound Annual Growth Rate (CAGR) of 6% during the forecast period (2025-2033), the market is projected to reach a value of approximately $10-14 billion by 2033. This growth is fueled by factors such as rising infrastructure development globally, the increasing adoption of stainless steel in architectural designs for its durability and aesthetics, and the expansion of the automotive industry, particularly in electric vehicles which frequently utilize stainless steel components. Growth is further enhanced by emerging trends toward sustainable building practices and advancements in stainless steel manufacturing that are reducing costs and improving efficiency. However, the market faces some restraints, including fluctuating raw material prices (primarily nickel and chromium) and potential supply chain disruptions. Competitive intensity is relatively high, with key players such as Skytech Metal, Montanstahl, Metal Supplies, and several Chinese manufacturers vying for market share through innovation in product design and manufacturing processes. Market segmentation is likely driven by product grade (e.g., 304, 316), angle size, and end-use application, although precise details on these segments are unavailable. Geographical distribution likely shows significant concentration in regions with robust industrial sectors and construction activity, with North America, Europe, and East Asia being major contributors.

316 Stainless Steel Market Outlook

The global 316 stainless steel market size was valued at approximately $3.5 billion in 2023 and is projected to reach $5.8 billion by 2032, growing at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2032. The growth of this market is primarily driven by increasing demand from various end-user industries, technological advancements, and the exceptional properties of 316 stainless steel that make it suitable for a wide range of applications.

The rising demand in the construction industry is a significant growth factor for the 316 stainless steel market. This material is highly resistant to corrosion, which makes it ideal for construction applications, especially in coastal and industrial environments where high resistance to salt and various chemicals is crucial. The durability and longevity of 316 stainless steel result in lower maintenance costs, enhancing its appeal in the construction sector. Additionally, the ongoing urbanization and infrastructural developments worldwide are further propelling the demand for this high-grade stainless steel.

Another major growth driver is the increasing use of 316 stainless steel in the automotive and aerospace industries. In the automotive sector, the focus on lightweight materials that provide strength and corrosion resistance is crucial for enhancing fuel efficiency and vehicle performance. Similarly, the aerospace industry requires materials that can withstand extreme conditions while maintaining structural integrity. 316 stainless steel meets these requirements, leading to its growing adoption in these applications. The advancements in manufacturing technologies have also made it easier to produce complex components using this material, broadening its application scope.

The medical industry is also contributing significantly to the growth of the 316 stainless steel market. This material is commonly used in medical devices and surgical instruments due to its biocompatibility, resistance to sterilization processes, and ability to withstand harsh cleaning agents. The rising global healthcare expenditure and the growing number of surgical procedures are expected to drive the demand for 316 stainless steel in the medical sector. Furthermore, the increasing trend of medical tourism and the expansion of healthcare facilities in emerging economies are additional factors supporting market growth.

In the realm of interior design and commercial applications, Stainless Steel Shelves are gaining popularity due to their durability and aesthetic appeal. These shelves offer a sleek, modern look while providing robust support for a variety of uses. In kitchens, stainless steel shelves are favored for their resistance to heat and moisture, making them ideal for storing cookware and food items. In retail and industrial settings, they provide a sturdy solution for displaying products or organizing tools and materials. The versatility and low maintenance requirements of stainless steel shelves make them a preferred choice in both residential and commercial environments, aligning with the growing trend towards minimalistic and functional design.

Regionally, Asia Pacific is expected to dominate the 316 stainless steel market during the forecast period. The region's growth can be attributed to rapid industrialization, urbanization, and infrastructural developments in countries like China and India. North America and Europe are also significant markets due to the presence of established automotive, aerospace, and healthcare industries. In contrast, the Middle East and Africa, along with Latin America, are projected to witness moderate growth, driven by development projects and expanding industrial activities.

Product Type Analysis

The 316 stainless steel market is segmented by product type into sheets, plates, bars, tubes, and others. Each of these product types serves distinct applications and has its own set of advantages, driving demand in various industries. Sheets are widely used in the automotive and construction sectors due to their excellent formability, weldability, and corrosion resistance. The increasing demand for lightweight and durable materials in these industries is propelling the growth of the sheets segment.

The plates segment is another crucial product type, extensively used in heavy industries, marine applications, and in the construction of chemical processing equipment. Plates offer high strength, resistance

HRC Steel fell to 883 USD/T on July 3, 2025, down 0.23% from the previous day. Over the past month, HRC Steel's price has risen 1.26%, and is up 32.77% compared to the same time last year, 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.

304 Stainless Steel Market size was valued at USD 21.6 Billion in 2023 and is projected to reach USD 32.5 Billion by 2031, growing at a CAGR of 4.2 % during the forecast period 2024-2031.

Global 304 Stainless Steel Market Drivers

The market drivers for the 304 Stainless Steel Market can be influenced by various factors. These may include:

Increasing Demand from the Construction Industry: The construction industry has witnessed a significant surge in activity, driven by urbanization and infrastructure development. 304 stainless steel is favored for its corrosion resistance and aesthetic appeal, making it preferable for architectural applications, structural components, and decorative finishes. As more green building standards emerge, the demand for sustainable materials like 304 stainless steel, which has a long lifespan and low maintenance costs, is expected to rise. Additionally, the growth of residential and commercial construction projects globally propels the need for 304 stainless steel in various applications, creating a robust market driver.

Growth in the Food Processing Sector: The food processing sector is one of the largest consumers of 304 stainless steel due to its exceptional hygienic properties and resistance to corrosion and staining. It is widely used in manufacturing equipment such as tanks, pipes, and valves that handle food products. As the global population increases, so does the demand for processed food, leading to the expansion of food processing facilities. Stringent hygiene regulations and standards in the food industry further support the preference for stainless steel, including type 304. As food safety concerns mount, the reliance on 304 stainless steel is likely to bolster market growth.

Global 304 Stainless Steel Market Restraints

Several factors can act as restraints or challenges for the 304 Stainless Steel Market. These may include:

Price Volatility: The 304 Stainless Steel Market is subject to significant price fluctuations due to the instability in raw material costs, particularly nickel and chromium, which are essential components of stainless steel. Changes in global demand and supply dynamics can lead to sudden spikes in prices, making it challenging for manufacturers and consumers to budget effectively. This volatility can deter investment and long-term contracts, ultimately leading to decreased market stability. Moreover, fluctuations can also lead to increased production costs, which could be passed along to end-users, limiting the material's competitiveness against alternative products.

Regulatory Challenges: The 304 Stainless Steel Market faces stringent regulatory frameworks governing environmental and safety standards. Compliance with regulations, such as REACH and RoHS in Europe, requires manufacturers to invest significantly in research, development, and certification processes. These regulatory requirements can delay product launches, increase operational costs, and restrict market entry for new players. Additionally, continual changes in regulations necessitate ongoing adaptations, which can divert resources from innovation and growth, potentially stifling competition and restricting market expansion opportunities for companies invested in this sector.

Explore the factors influencing 304L stainless steel pricing, including market demand, material costs, and regional differences. Discover insights on pricing strategies, bulk discounts, and how geopolitical dynamics affect global metal prices.

The global stainless steel flat products market is experiencing robust growth, driven by increasing demand from diverse sectors including construction, automotive, and consumer appliances. This growth is fueled by the material's superior corrosion resistance, durability, and aesthetic appeal. While precise figures for market size and CAGR are unavailable from the provided data, a reasonable estimation, considering industry trends and the significant presence of major players like Tsingshan Holding Group, POSCO, and Nippon Steel Corporation, indicates a 2025 market size of approximately $150 billion USD. Assuming a conservative annual growth rate (CAGR) of 5% – a figure in line with recent industry performance – the market is projected to reach approximately $200 billion USD by 2033. This growth trajectory is influenced by several factors including the rising adoption of sustainable building practices (favoring stainless steel for longevity), advancements in stainless steel production techniques enhancing cost-effectiveness, and the burgeoning demand in emerging economies for durable and hygienic products. However, the market faces certain challenges. Fluctuations in raw material prices, particularly nickel, can significantly impact profitability. Additionally, stricter environmental regulations and concerns regarding carbon emissions associated with stainless steel production represent potential restraints. To mitigate these risks, companies are increasingly focusing on resource-efficient production methods, including the utilization of recycled materials and the development of lower-carbon steel alloys. Segment-wise analysis would provide a clearer picture of specific growth drivers and constraints within each sector. The competitive landscape is highly concentrated, with a relatively small number of major players dominating the market. This suggests a degree of market consolidation and opportunities for strategic partnerships and acquisitions in the coming years.

Explore the dynamic pricing of 410 stainless steel, influenced by market demand, raw material costs, and geopolitical conditions. Known for its high strength and mild corrosion resistance, this martensitic stainless steel is essential in various applications. Understand current market trends, influencing factors such as chromium and nickel costs, trade policies, and speculative influences for a comprehensive overview.