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.

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).

Explore the factors influencing the price of 316 stainless steel, including market demand, raw material costs, and global economic conditions, with prices typically ranging from $2,000 to $3,500 per ton. Learn how elements like nickel and molybdenum, along with geopolitical factors and sustainability trends, impact pricing in this comprehensive overview.

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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

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.

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.

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

The global 304 stainless steel market is experiencing robust growth, driven by increasing demand across diverse sectors. While the exact market size for 2025 isn't provided, industry reports suggest a substantial value, potentially in the billions of dollars, considering the substantial production and usage of 304 stainless steel globally. The market's Compound Annual Growth Rate (CAGR) – let's assume a conservative estimate of 5% for the forecast period of 2025-2033 – indicates a significant expansion in market size by 2033. This growth is fueled by several key drivers: the expanding food and beverage industry requiring hygienic and corrosion-resistant materials, the burgeoning aerospace sector demanding high-strength, lightweight alloys, and the rise of architectural projects leveraging 304 stainless steel's aesthetic appeal and durability. Further growth is anticipated from increased applications in chemical processing equipment and sanitary/cryogenic applications. The market is segmented by type (304 and 304L) and application, with 304 being the dominant type. Key players such as thyssenkrupp, ArcelorMittal, POSCO, and others are actively shaping the market landscape through technological advancements and strategic partnerships. Despite the positive outlook, certain restraints could impact the market's trajectory. These include fluctuating raw material prices (particularly nickel and chromium), potential supply chain disruptions, and environmental concerns related to stainless steel production. However, innovations in sustainable production methods and increasing focus on circular economy principles could mitigate these challenges. Geographic segmentation reveals strong growth in Asia-Pacific, driven by rapid industrialization and infrastructural development in countries like China and India. North America and Europe also represent significant markets, with continuous demand across various industries. The market's long-term outlook remains promising, driven by consistent demand and ongoing technological advancements in stainless steel production and applications. This report provides a detailed analysis of the global 304 stainless steel market, projecting substantial growth exceeding 20 million metric tons by 2030. We delve into production trends, application specifics, key players, and emerging market dynamics, offering actionable insights for businesses operating within this vital sector. Keywords: 304 Stainless Steel, Stainless Steel Market, 304L Stainless Steel, Stainless Steel Production, Stainless Steel Applications, Stainless Steel Industry.

Cyprus Construction Materials Price Index: MP: Iron & Steel: Structural Steel data was reported at 105.306 2005=100 in Dec 2013. This stayed constant from the previous number of 105.306 2005=100 for Nov 2013. Cyprus Construction Materials Price Index: MP: Iron & Steel: Structural Steel data is updated monthly, averaging 106.362 2005=100 from Jan 2005 (Median) to Dec 2013, with 108 observations. The data reached an all-time high of 151.490 2005=100 in Sep 2008 and a record low of 93.348 2005=100 in Jan 2010. Cyprus Construction Materials Price Index: MP: Iron & Steel: Structural Steel data remains active status in CEIC and is reported by Statistical Service of Cyprus. The data is categorized under Global Database’s Cyprus – Table CY.EA008: Construction Materials Price Index: 2005=100.

In May 2024, the price of one metric ton of nickel stood at some ********* U.S. dollars. In comparison, in December 2016, the price of nickel was just below ****** U.S. dollars per metric ton. Thus, the nickel price has increased considerably in recent years, though it continuously fluctuates. In the beginning of 2022, however, the price of nickel skyrocketed due to disruptions to supply chains and a wide scarcity of raw materials and metals. Overview of nickel Discovered in 1751, nickel is a base metal with a silvery-white lustrous appearance that has a slightly golden tinge. The metal is crucial for many global industries, especially, for example, for the production of stainless-steel. Nickel is highly corrosion-resistant and is used to plate other metals in order to protect them. Because of these useful traits, nickel is used in more than ******* products worldwide, spanning from architectural, industrial, military, transportation and aerospace, marine, currency, and consumer applications. Nickel price dynamics Though nickel is the fifth most abundant element found on Earth, as with any commodity, the price of nickel can vary widely depending on global market conditions. Following the collapse of the Soviet Union, exports of nickel increased dramatically, dropping the price of nickel in the mid-1990s to below production costs. Nickel production in the Western Hemisphere was reduced during that period. Prices then increased again, up to a high of ****** U.S. dollars per metric ton in May 2007. Since then, nickel prices have decreased, and have remained between a low of ***** U.S. dollars per metric ton and a high of ****** U.S. dollars per metric ton between 2016 and 2021. It is forecast that the price of nickel will amount to more than ****** U.S. dollars per metric ton in 2025.

The heat-treated steel plates market, valued at $7.33 billion in 2025, is projected to experience robust growth, exceeding a 4% CAGR through 2033. This expansion is driven by the burgeoning automotive and construction sectors, particularly in rapidly developing economies across Asia-Pacific. Increasing demand for high-strength, lightweight materials in vehicles and infrastructure projects fuels this growth. Furthermore, the energy and power sectors' reliance on durable, corrosion-resistant steel plates for power generation and transmission infrastructure contributes significantly to market demand. Advancements in heat treatment technologies, enabling greater precision and control over material properties, further enhance the market's appeal. While fluctuating raw material prices and potential supply chain disruptions pose challenges, the long-term outlook remains positive due to the ongoing global infrastructure development and the inherent advantages of heat-treated steel plates in various applications. The market segmentation reveals a strong preference for carbon steel due to its cost-effectiveness, while stainless steel and alloy steel segments are experiencing growth driven by their superior corrosion and high-temperature resistance properties. The diverse range of heat treatment types, including annealing, tempering, normalizing, and quenching, cater to specific application requirements, further broadening market opportunities. Major players, such as ArcelorMittal, Baosteel Group, and POSCO, dominate the market, leveraging their extensive production capacity and global reach. The geographical distribution of the market reflects significant growth in Asia-Pacific, driven by China and India's robust industrialization and infrastructure development. North America and Europe maintain substantial market shares, although growth rates may be comparatively slower due to their mature economies. Emerging markets in South America, the Middle East, and Africa present lucrative opportunities, as these regions invest in infrastructure modernization and industrial expansion. Competitive pressures will remain intense, with established players continually innovating and expanding their product offerings. The focus on sustainable practices, such as reducing carbon emissions in steel production, is also shaping industry dynamics and driving innovation in manufacturing processes. The market is expected to see increased adoption of advanced materials and manufacturing techniques, pushing the boundaries of material performance and sustainability. Recent developments include: October 2023: Tata Steel breaks the ground for its upcoming 7,50,000 tonne per annum scrap-based electric arc furnace (EAF) steel plant in Ludhiana., September 2023: Tata Steel and the UK Government jointly agree on a proposal for the largest investment in the UK Steel Industry in developing the proposed transition pathway for the future of sustainable steelmaking in the UK.. Key drivers for this market are: Increasing Applications in Machinery Production, Growing Demand from Construction Industry in Developing Countries; Other Drivers. Potential restraints include: Increasing Applications in Machinery Production, Growing Demand from Construction Industry in Developing Countries; Other Drivers. Notable trends are: Growing Applications for Machinery Production.

LME Index fell to 4,255.20 Index Points on July 3, 2025, down 0.40% from the previous day. Over the past month, LME Index's price has risen 3.60%, and is up 0.53% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. LME Index - values, historical data, forecasts and news - updated on July of 2025.

Heat-treated steel plates are available in various grades and specifications, depending on their intended application. Carbon steel plates are used in structural applications, while stainless steel plates are used in corrosive environments. Treatment processes, such as annealing, hardening, and tempering, enhance the properties of heat-treated steel plates. Recent developments include: January, 2023: Nucor Corp.’s new steel plate mill in Brandenburg, Ky., rolled its first steel plate on Dec. 30, 2022. Nucor Steel Brandenburg, a $1.7 billion capital investment with the ability to produce 1.2 million tons annually, will focus on final commissioning of the mill in the first quarter of 2023 and will ship the first tons to customers during the quarter. Nucor Steel Brandenburg will be among only a few mills globally – and the only mill in the United States, according to the company – capable of manufacturing at scale the heavy-gauge plate used in monopile foundations for offshore wind towers.The recent passage of the Inflation Reduction Act, which included $300 billion for clean energy development and climate programs, supports the Biden Administration’s announced goal to build 30 gigawatts of offshore wind power by 2030. This could result in approximately 7.5 million tons of additional steel demand. According to Nucor Steel Brandenburg, it will be able to produce 97% of plate products consumed domestically.November, 2022: Steel Dynamics Announces Planned State-of-the-Art Aluminum Flat Rolled Mill Site Selection - The planned $1.9 billion aluminum flat rolled mill is designed to have an annual production capacity of 650,000 tonnes of finished products, serving the sustainable beverage packaging, automotive, and common alloy industrial sectors. The product offering will be supported by various value-added finishing lines, including CASH (continuous annealing solutions heat treating) lines, continuous coating, and various slitting and packaging operations. The rolling mill is currently expected to begin operations in mid-2025. The company's focus on decarbonization will also be applied to this aluminum operation, including plans to use a significant amount of pre- and post-consumer aluminum scrap in its production process, supported by the company's metals recycling platform, which is the largest nonferrous metals recycler in North America.. Key drivers for this market are: Increasing demand from automotive and construction industries

Government initiatives for infrastructure development. Potential restraints include: Fluctuating raw material prices

Environmental regulations on emissions. Notable trends are: Development of advanced heat treatment techniques

Integration of digital technologies in production processes.

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Electric Arc Furnaces Market Size 2025-2029

The electric arc furnaces market size is forecast to increase by USD 855.3 million at a CAGR of 11% between 2024 and 2029.

The Electric Arc Furnace market is experiencing significant growth, driven by advancements in technology that enhance energy efficiency and productivity. These innovations include the integration of automation systems, improved insulation materials, and the adoption of alternative energy sources for electricity production. However, the high cost of electric arc furnace technology remains a major challenge for market expansion. This obstacle is particularly pronounced in emerging economies where the capital investment required for implementation is a significant barrier. Despite this, opportunities exist for companies to capitalize on the growing demand for electric arc furnaces in the steel industry.
By focusing on cost reduction strategies, collaborating with technology providers, and exploring financing options, market participants can navigate this challenge and seize the potential rewards of this dynamic market.

What will be the Size of the Electric Arc Furnaces Market during the forecast period?

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The electric arc furnace (EAF) market continues to evolve, driven by advancements in technology and shifting industry dynamics. EAFs are integral to melt shops, transforming scrap metal into Carbon Steel, stainless steel, and other grades. The integration of advanced EAF technology, continuous casting, and arc furnace optimization enhances process efficiency and reduces energy consumption. Green steel production, a key focus in the industry, is gaining traction, with EAFs playing a pivotal role in minimizing carbon footprint through the use of renewable energy and scrap metal. Emissions control and material handling systems are essential components, ensuring regulatory compliance and operational excellence.
Furnace design innovations, such as predictive maintenance, Data analytics, and remote monitoring, contribute to energy efficiency and operational cost savings. Furthermore, the circular economy's principles are increasingly influencing the market, with a focus on waste reduction and resource optimization. EAFs' ongoing evolution encompasses the development of furnace lining materials, arc power management, and furnace control systems, including oxygen lances and process control technologies. As the industry adapts to these changes, the market remains dynamic and forward-thinking, shaping the future of steel production.

How is this Electric Arc Furnaces Industry segmented?

The electric arc furnaces industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  AC arc furnace
  DC arc furnace
  Submerged arc furnace
  Submerged arc furnace


Product

  100 to 200 tons
  200 to 300 tons
  More than 300 tons
  Upto 100 tons


Application

  Steelmaking
  Ironmaking
  Non-ferrous Metal Production


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Type Insights

The ac arc furnace segment is estimated to witness significant growth during the forecast period.

The electric arc furnace market is driven by the increasing demand for high-quality steel and the adoption of advanced technologies to improve process efficiency and reduce environmental impact. AC arc furnaces, which utilize alternating current to generate intense heat through electric arcs, are a significant segment of this market. Their versatility in melting various raw materials, such as scrap metal and direct reduced iron (DRI), makes them an essential tool for producing a wide range of steel grades. Environmental regulations are pushing the industry towards more sustainable practices, leading to the integration of renewable energy sources and emissions control systems in electric arc furnaces.

Innovative furnace designs, such as those with improved insulation and refractory materials, are also gaining popularity to reduce energy consumption and improve process efficiency. Predictive maintenance and remote monitoring technologies are being employed to optimize furnace performance, reduce downtime, and lower operational costs. Circular economy principles are being adopted in the steel industry, with a focus on waste reduction and the efficient use of resources. This trend is leading to the development of green steel and continuous casting processes, which minimize the carbon footprint of steel production. The integration of data analytics and process automation systems i