Steel rose to 3,197 CNY/T on August 15, 2025, up 0.28% from the previous day. Over the past month, Steel's price has risen 3.63%, and is up 11.01% compared to the same time last year, 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.

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 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 July of 2025.

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Steel Wire, Stainless Steel (WPU10170502) from Dec 2010 to Jul 2023 about wired, steel, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

United States - Producer Price Index by Commodity: Metals and Metal Products: Steel Pipe and Tube, Stainless Steel was 144.14400 Index Dec 2010=100 in June 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 August of 2025.

HRC Steel fell to 826.01 USD/T on August 14, 2025, down 0.84% from the previous day. Over the past month, HRC Steel's price has fallen 6.24%, but it is still 25.15% higher than a year ago, 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.

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 August of 2025.

United States - Producer Price Index by Commodity: Metals and Metal Products: Stainless and Other Alloy Steel Scrap was 429.62100 Index Dec 1986=100 in June 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 August of 2025.

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.

The Greek stainless steel household articles market reached $32M in 2024, with an increase of 10% against the previous year. In general, consumption recorded a relatively flat trend pattern. Stainless steel household articles consumption peaked at $33M in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

In 2024, after two years of decline, there was growth in the Romanian stainless steel household articles market, when its value increased by 1.6% to $29M. In general, consumption, however, continues to indicate a measured expansion. As a result, consumption attained the peak level of $31M. From 2022 to 2024, the growth of the market remained at a somewhat lower figure.

The Ukrainian stainless steel household articles market declined slightly to $28M in 2024, approximately equating the previous year. Over the period under review, consumption showed a relatively flat trend pattern. Over the period under review, the market attained the peak level at $32M in 2021; however, from 2022 to 2024, consumption stood at a somewhat 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.

United States - Producer Price Index by Industry: Material Recyclers: Stainless and Alloy Steel Scrap was 572.90200 Index Dec 1986=100 in June 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 August of 2025.

At the end of fiscal year 2024, the Wholesale Price Index of steel pipes and tubes across India was 138. This meant an increase in the WPI of 38 percent from the base year of 2012. India was the second largest steel producer in the world during the same period, just after China.

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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 steelma

LME Index fell to 4,199.90 Index Points on August 14, 2025, down 0.09% from the previous day. Over the past month, LME Index's price has risen 1.36%, and is up 6.00% 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 August of 2025.

The German stainless steel household articles market expanded markedly to $447M in 2024, rising by 6.4% against the previous year. Over the period under review, the total consumption indicated a notable expansion from 2012 to 2024: its value increased at an average annual rate of +3.9% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -20.4% against 2022 indices.

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.