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.

The Wholesale Price Index of semi finished stainless steel across India during financial year 2024 was around ***. The price index of stainless steel increased by about ** 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 Commodity: Metals and Metal Products: Steel Pipe and Tube, Stainless Steel was 144.16400 Index Dec 2010=100 in August 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 December of 2025.

United States - Producer Price Index by Commodity: Metals and Metal Products: Steel Wire, Stainless Steel was 175.30000 Index Dec 2010=100 in July of 2023, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Metals and Metal Products: Steel Wire, Stainless Steel reached a record high of 209.58200 in August of 2022 and a record low of 83.80000 in June 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 Wire, Stainless Steel - last updated from the United States Federal Reserve on November of 2025.

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.

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

United States - Producer Price Index by Industry: Steel Wire Drawing: Stainless Steel Wire was 242.66800 Index Jun 1982=100 in July of 2023, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Steel Wire Drawing: Stainless Steel Wire reached a record high of 290.12600 in August of 2022 and a record low of 100.00000 in June of 1982. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Steel Wire Drawing: Stainless Steel Wire - last updated from the United States Federal Reserve on December of 2025.

United States - Producer Price Index by Commodity: Metals and Metal Products: Stainless and Other Alloy Steel Scrap was 420.68700 Index Dec 1986=100 in August of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Commodity: Metals and Metal Products: Stainless and Other Alloy Steel Scrap reached a record high of 845.43200 in March of 2022 and a record low of 100.00000 in December of 1986. 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: Stainless and Other Alloy Steel Scrap - last updated from the United States Federal Reserve on December of 2025.

In 2024, the Polish stainless steel household articles market was finally on the rise to reach $108M after two years of decline. The market value increased at an average annual rate of +1.9% over the period from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Stainless steel household articles consumption peaked at $111M in 2021; however, from 2022 to 2024, consumption remained at a lower figure.

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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, the Egyptian stainless steel household articles market decreased by -13.4% to $28M, falling for the third year in a row after five years of growth. In general, consumption, however, continues to indicate a resilient expansion. Stainless steel household articles consumption peaked at $64M in 2021; however, from 2022 to 2024, consumption failed to regain momentum.

The Mexican stainless steel household articles market expanded slightly to $666M in 2024, increasing by 4.8% against the previous year. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market reached the peak level at $722M in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

Japan EPI: W: MRP: IS: SPT: Stainless Steel Pipes & Tubes data was reported at 4.000 Per 1000 in Apr 2022. This stayed constant from the previous number of 4.000 Per 1000 for Mar 2022. Japan EPI: W: MRP: IS: SPT: Stainless Steel Pipes & Tubes data is updated monthly, averaging 4.000 Per 1000 from Jan 1980 (Median) to Apr 2022, with 508 observations. The data reached an all-time high of 4.000 Per 1000 in Apr 2022 and a record low of 4.000 Per 1000 in Apr 2022. Japan EPI: W: MRP: IS: SPT: Stainless Steel Pipes & Tubes data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.I143: Export Price Index: 2015=100: Weight.

United States - Producer Price Index by Industry: Material Recyclers: Stainless and Alloy Steel Scrap was 560.60900 Index Dec 1986=100 in August 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 December of 2025.

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.

In 2024, the Czech stainless steel household articles market decreased by -27.5% to $20M, falling for the second consecutive year after three years of growth. Over the period under review, consumption continues to indicate a mild reduction. Over the period under review, the market reached the peak level at $38M in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

The Benelux stainless steel household articles market shrank significantly to $120M in 2024, reducing by -29.4% against the previous year. Over the period under review, consumption showed a slight downturn. The level of consumption peaked at $178M in 2021; however, from 2022 to 2024, consumption failed to regain momentum.

Colombia Construction Cost Index: Buildings: Stainless Steel data was reported at 114.060 Dec2021=100 in Mar 2025. This records an increase from the previous number of 113.580 Dec2021=100 for Feb 2025. Colombia Construction Cost Index: Buildings: Stainless Steel data is updated monthly, averaging 111.870 Dec2021=100 from Jan 2022 (Median) to Mar 2025, with 39 observations. The data reached an all-time high of 118.314 Dec2021=100 in Jun 2023 and a record low of 101.612 Dec2021=100 in Jan 2022. Colombia Construction Cost Index: Buildings: Stainless Steel data remains active status in CEIC and is reported by National Administrative Department of Statistics. The data is categorized under Global Database’s Colombia – Table CO.EA011: Construction Cost Index: Buildings: by Inputs: Dec2021=100.

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.