Steel rose to 3,117 CNY/T on December 2, 2025, up 0.23% from the previous day. Over the past month, Steel's price has risen 1.30%, but it is still 7.09% 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 December of 2025.

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 Sep 2025 about steel, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

HRC Steel fell to 891.06 USD/T on December 2, 2025, down 0.88% from the previous day. Over the past month, HRC Steel's price has risen 5.08%, and is up 29.14% 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.

India Consumer Price Index (CPI): Miscellaneous: Stainless Steel Utensils data was reported at 155.200 2012=100 in Oct 2018. This records an increase from the previous number of 151.600 2012=100 for Sep 2018. India Consumer Price Index (CPI): Miscellaneous: Stainless Steel Utensils data is updated monthly, averaging 129.000 2012=100 from Jan 2014 (Median) to Oct 2018, with 58 observations. The data reached an all-time high of 155.200 2012=100 in Oct 2018 and a record low of 114.400 2012=100 in Jan 2014. India Consumer Price Index (CPI): Miscellaneous: Stainless Steel Utensils data remains active status in CEIC and is reported by Central Statistics Office. The data is categorized under India Premium Database’s Inflation – Table IN.IA017: Consumer Price Index: 2012=100: Miscellaneous.

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.

India Retail Price Index: Industrial Workers: 2001p: Others: Untensil Stainless Steel data was reported at 247.760 2001=100 in Oct 2018. This records an increase from the previous number of 246.270 2001=100 for Sep 2018. India Retail Price Index: Industrial Workers: 2001p: Others: Untensil Stainless Steel data is updated monthly, averaging 193.320 2001=100 from Jan 2006 (Median) to Oct 2018, with 154 observations. The data reached an all-time high of 247.760 2001=100 in Oct 2018 and a record low of 112.350 2001=100 in Jan 2006. India Retail Price Index: Industrial Workers: 2001p: Others: Untensil Stainless Steel data remains active status in CEIC and is reported by Labour Bureau Government of India. The data is categorized under India Premium Database’s Inflation – Table IN.IG016: Retail Price Index: Industrial Workers: 2001=100: Miscellaneous: Others.

LME Index rose to 4,700 Index Points on October 29, 2025, up 0.79% from the previous day. Over the past month, LME Index's price has risen 7.33%, and is up 13.22% 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 December of 2025.

Russia Avg Consumer Price: Metal Ware: Utensils Set: Stainless Steel data was reported at 284.660 RUB in Jan 2019. This records an increase from the previous number of 279.450 RUB for Dec 2018. Russia Avg Consumer Price: Metal Ware: Utensils Set: Stainless Steel data is updated monthly, averaging 132.160 RUB from Jan 1997 (Median) to Jan 2019, with 265 observations. The data reached an all-time high of 284.660 RUB in Jan 2019 and a record low of 20.710 RUB in Jul 1997. Russia Avg Consumer Price: Metal Ware: Utensils Set: Stainless Steel data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Prices – Table RU.PA008: Average Consumer Price: Furniture and Ware.

United States PPI: Metals: IS: Iron & Steel Scrap: Stainless & Alloy Steel Scrap data was reported at 495.100 Dec1986=100 in Jun 2018. This records an increase from the previous number of 449.800 Dec1986=100 for May 2018. United States PPI: Metals: IS: Iron & Steel Scrap: Stainless & Alloy Steel Scrap data is updated monthly, averaging 335.400 Dec1986=100 from Dec 1986 (Median) to Jun 2018, with 257 observations. The data reached an all-time high of 803.700 Dec1986=100 in Mar 2011 and a record low of 100.000 Dec1986=100 in Dec 1986. United States PPI: Metals: IS: Iron & Steel Scrap: Stainless & Alloy Steel Scrap 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.

The Slovak stainless steel household articles market rose rapidly to $38M in 2024, surging by 6.1% against the previous year. Overall, consumption, however, showed a relatively flat trend pattern. Stainless steel household articles consumption peaked at $42M in 2018; however, from 2019 to 2024, consumption failed to regain momentum.

Nickel fell to 14,879.88 USD/T on December 3, 2025, down 0.20% from the previous day. Over the past month, Nickel's price has fallen 1.20%, and is down 7.47% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Nickel - values, historical data, forecasts and news - updated on December of 2025.

Industrial product price index (IPPI), by major product group by North American Product Classification System (NAPCS) 2017 Version 2.0. Monthly data are available from January 1956. The table presents data for the most recent reference period and the last four periods. The base period for the index is (202001=100).

Russia Consumer Price Index (CPI): Prev Month=100: Metal Ware: Utensils of Stainless Steel data was reported at 100.400 Prev Mth=100 in Dec 2018. This records a decrease from the previous number of 100.610 Prev Mth=100 for Nov 2018. Russia Consumer Price Index (CPI): Prev Month=100: Metal Ware: Utensils of Stainless Steel data is updated monthly, averaging 100.600 Prev Mth=100 from Jan 1997 (Median) to Dec 2018, with 264 observations. The data reached an all-time high of 112.850 Prev Mth=100 in Sep 1998 and a record low of 100.100 Prev Mth=100 in Jul 2015. Russia Consumer Price Index (CPI): Prev Month=100: Metal Ware: Utensils of Stainless Steel data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Inflation – Table RU.IA010: Consumer Price Index: Previous Month=100: Non Food.

In 2024, the Bahraini stainless steel household articles market decreased by -54.9% to $1.8M, falling for the second consecutive year after two years of growth. Overall, consumption showed a drastic downturn. Over the period under review, the market reached the peak level at $5.5M in 2017; however, from 2018 to 2024, consumption failed to regain momentum.

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Iron and Steel Market Size 2024-2028

The iron and steel market size is forecast to increase by USD 478.1 billion, at a CAGR of 5.65% between 2023 and 2028.

The market is experiencing significant growth, driven by the increasing consumption of high-strength stainless steel. This trend is fueled by the expanding infrastructure sector, particularly in emerging economies, and the growing demand for stainless steel in various end-use industries such as construction, automotive, and packaging. Furthermore, the rising popularity of stainless steel scrap as a cost-effective alternative to primary steel production is contributing to market expansion. However, the market faces challenges as well. Carbon fiber is increasingly gaining traction in the automotive industry, posing a threat to the demand for steel and stainless steel.
This shift is due to the lightweight and high-strength properties of carbon fiber, making it an attractive alternative for manufacturers seeking to reduce vehicle weight and improve fuel efficiency. Companies in the iron and steel industry must adapt to this trend by focusing on innovation and developing new applications for steel and stainless steel that offer superior performance or cost advantages over carbon fiber. Additionally, ensuring sustainable production methods and addressing environmental concerns will be crucial in maintaining market competitiveness and addressing regulatory pressures.

What will be the Size of the Iron and Steel Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market continues to evolve, driven by advancements in steel production technologies and the diverse applications of various steel types across numerous sectors. High-strength low-alloy steel, for instance, is increasingly sought after for its enhanced yield strength and hardness, making it suitable for use in automotive and construction industries. Impact testing and hardness testing are crucial in ensuring the quality and durability of these high-performance steels. Stainless steel, with its excellent corrosion resistance, is another key player in the market. The production of stainless steel involves processes such as pig iron production, coke making, and sintering, followed by electric arc furnace melting and continuous casting.

The industry anticipates a steady growth of around 4% annually, fueled by increasing demand from sectors like aerospace and healthcare. An example of this market's continuous dynamism can be seen in the implementation of advanced high-strength steel in the automotive industry. A major automaker reported a 15% increase in fuel efficiency by using this steel in vehicle production. The steel's superior properties, such as increased tensile strength and fatigue resistance, contribute to the overall improvement in vehicle performance and sustainability. Quality control systems, steel scrap recycling, and steel microstructure analysis are essential components of the steel manufacturing process.

They ensure the consistent production of steel grades that meet specific customer requirements. The integration of coating lines and galvanizing lines further enhances the versatility of steel products. Alloy steel and carbon steel undergo various processes, including blast furnace operation, basic oxygen furnace, hot rolling mill, and cold rolling mill, to achieve their desired properties. Heat treatment and pickling line processes further refine these steels for specific applications. The ongoing innovation in steelmaking technologies, such as secondary steelmaking and yield optimization techniques, continues to shape the market landscape.

How is this Iron and Steel Industry segmented?

The iron and steel 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

  Construction
  Machinery
  Transportation
  Metal goods
  Others


Type

  Steel
  Iron


Geography

  North America

    US


  Europe

    Russia


  APAC

    China
    India
    Japan


  Rest of World (ROW)

By End-user Insights

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

The market is a critical sector in the construction industry, supplying essential components for structural integrity, durability, and versatility. High-strength low-alloy steel, for instance, undergoes impact testing and hardness testing to ensure its robustness in various applications. Stainless steel, another key player, offers corrosion resistance and is extensively used in galvanizing lines and coating lines. Pig iron production and coke making are fundamental processes in steelmaking, wh

In 2024, after two years of growth, there was significant decline in the Ugandan stainless steel household articles market, when its value decreased by -25.4% to $1.7M. Overall, consumption, however, posted a remarkable increase. Over the period under review, the market hit record highs at $4M in 2017; however, from 2018 to 2024, consumption remained at a lower figure.

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.

Russia Consumer Price Index (CPI): Same Mth PY=100: Metal Ware: Utensils of Stainless Steel data was reported at 103.220 Same Mth PY=100 in Dec 2018. This records an increase from the previous number of 103.110 Same Mth PY=100 for Nov 2018. Russia Consumer Price Index (CPI): Same Mth PY=100: Metal Ware: Utensils of Stainless Steel data is updated monthly, averaging 108.370 Same Mth PY=100 from Apr 1997 (Median) to Dec 2018, with 261 observations. The data reached an all-time high of 173.850 Same Mth PY=100 in Jul 1999 and a record low of 102.710 Same Mth PY=100 in Oct 2018. Russia Consumer Price Index (CPI): Same Mth PY=100: Metal Ware: Utensils of Stainless Steel data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Inflation – Table RU.IA015: Consumer Price Index: Same Month Previous Year=100: Non Food.

In recent years, nickel prices have hit some of their all-time highest numbers, at an average of almost 26,000 U.S. dollars per metric ton throughout 2022. This was driven by a large spike in prices at the end of that year, where they peaked at 31,275 U.S. dollars per ton in mid-November. The recent surge in nickel prices has been driven by several factors, including disruptions to Russia's (the world's third-largest nickel producer) export industry following its invasion of Ukraine. Additionally, demand for nickel has grown alongside the growth of lithium-ion battery production, driven by the growth of the electronic car market. However, these recent peaks are still well below the all-time annual high of more than 37,000 U.S. dollars in 2007, where low international supply coupled with high demand from China's stainless-steel manufacturing industries caused prices to soar.

Russia Consumer Price Index (CPI): Prev Dec=100: Construction Materials: Sink of Stainless Steel data was reported at 101.660 Prev Dec=100 in Dec 2018. This records an increase from the previous number of 101.440 Prev Dec=100 for Nov 2018. Russia Consumer Price Index (CPI): Prev Dec=100: Construction Materials: Sink of Stainless Steel data is updated monthly, averaging 101.985 Prev Dec=100 from Jan 2004 (Median) to Dec 2018, with 180 observations. The data reached an all-time high of 118.510 Prev Dec=100 in Dec 2015 and a record low of 99.920 Prev Dec=100 in Apr 2018. Russia Consumer Price Index (CPI): Prev Dec=100: Construction Materials: Sink of Stainless Steel data remains active status in CEIC and is reported by Federal State Statistics Service. The data is categorized under Russia Premium Database’s Inflation – Table RU.IA019: Consumer Price Index: Previous December=100: Non Food.