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).

The price of Forged Stainless Steel Bar in June 2023 was $8,135 per ton (FOB, Germany), marking a 2.4% increase compared to the previous month.

Steel rose to 2,962 CNY/T on June 27, 2025, up 0.44% from the previous day. Over the past month, Steel's price has fallen 2.02%, and is down 10.27% 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 June of 2025.

Explore the various factors influencing the price per ton of stainless steel, including market demand, production costs, geopolitical events, and technological advancements. Stay informed on how raw material prices and environmental regulations impact this crucial industry material's cost dynamics.

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.

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

Get the latest insights on price movement and trend analysis of Stainless Steel (316) in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

In January 2023, the forged stainless steel bar price amounted to $6,948 per ton (CIF, United Kingdom), reducing by -7.8% against the previous month.

After demand for steel dropped during the arrival of the COVID-19 pandemic in 2019, steel prices also took a hit. However, in 2021, hot-rolled coil (HRC) steel prices were projected to rebound to around *** U.S. dollars per metric ton—a ** percent recovery from the dip in prices that had continued into 2020. The U.S. market by the end of 2021 The United States is among the markets where hot-rolled coil (HRC) steel prices are the highest in the world. It was expected that U.S. steel distributors and producers, such as Nucor and United States Steel, would benefit from the steel tariffs on U.S. imports that came into effect in the spring of 2018. At the same time, U.S. imports from the countries subjected to the so-called Section 232 tariffs were projected to decline. By the end of 2021, Canada was the main country of origin for the U.S.’s imports for consumption of steel products. Impact on the Chinese market Even though a large part of China's steel exports to the United States had already been restricted through antidumping or countervailing duties, trade tensions put pressure on steel markets worldwide, including China. Chinese steel product imports amounted to ***** million U.S. dollars, making it the ninth country of origin for steel products in the United States. Overall, rolled steel was the seventh largest category of Chinese export goods in 2021, amounting to almost *** billion yuan (approximately ** billion U.S. dollars). This comes after China's steel sector had a drop in sales to its domestic auto sector in early 2019.

HRC Steel fell to 880 USD/T on June 30, 2025, down 0.34% from the previous day. Over the past month, HRC Steel's price has fallen 1.46%, but it is still 30.56% 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 July 2022, the stainless steel angle price amounted to $4,177 per ton (FOB, India), with an increase of 15% against the previous month.

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.

The price of Stainless Steel Angle reached $5,120 per ton (FOB, Japan) in April 2023, showing a 184% increase compared to the previous month.

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.

In November 2022, stainless steel seamless pipe prices decreased by -19.9%, amounting to $3,695 per ton (CIF, India), compared to the previous month.

In May 2024, the price of one metric ton of nickel stood at some 19,586.98 U.S. dollars. In comparison, in December 2016, the price of nickel was just below 10,000 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 300,000 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 52,179 U.S. dollars per metric ton in May 2007. Since then, nickel prices have decreased, and have remained between a low of 8,299 U.S. dollars per metric ton and a high of 18,584 U.S. dollars per metric ton between 2016 and 2021. It is forecast that the price of nickel will amount to more than 17,000 U.S. dollars per metric ton in 2025.

In September 2022, the forged stainless steel bar price stood at $7,618 per ton (CIF, Spain), picking up by 18% against the previous month.

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.

The average hot-rolled round stainless steel import price stood at $5,177 per ton in September 2024, dropping by -2.5% against the previous month.