Steel fell to 3,086 CNY/T on July 11, 2025, down 0.61% from the previous day. Over the past month, Steel's price has risen 5.22%, but it is still 6.46% 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.

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.

China Transaction Price: 36 City Avg: Stainless Steel: 1.0, 304/2B Cold Roll data was reported at 15,228.470 RMB/Ton in Mar 2025. This records a decrease from the previous number of 15,275.970 RMB/Ton for Feb 2025. China Transaction Price: 36 City Avg: Stainless Steel: 1.0, 304/2B Cold Roll data is updated monthly, averaging 17,539.700 RMB/Ton from Apr 2008 (Median) to Mar 2025, with 204 observations. The data reached an all-time high of 33,048.000 RMB/Ton in May 2008 and a record low of 13,029.000 RMB/Ton in Feb 2016. China Transaction Price: 36 City Avg: Stainless Steel: 1.0, 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: Transaction Price: Production Material: Steel.

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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

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.

HRC Steel fell to 876.95 USD/T on July 11, 2025, down 0.57% from the previous day. Over the past month, HRC Steel's price has risen 1.73%, and is up 31.87% 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.

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.

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.

In December 2022, the stainless steel angle price decreased by -44.5% to $1,322 per ton (CIF, Mexico) compared to 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.

Iron and steel scrap prices in the United States stood at around *** U.S. dollars per metric ton in 2024, down from *** dollars per ton a year earlier. This is the fourth consecutive annual decrease recorded. Steel scrap consumption The majority of domestic steel industry scrap consumption is from manufacturers of raw steel, and steel castings. These raw materials are used to produce steel products that are used for appliances, construction, machinery, and transportation, among other industry uses. Only small amounts of steel scrap were used for the production of ferroalloys, copper precipitation, and the chemical industry. Recycling scrap Recycled iron and steel scrap materials have been essential for the production of new steel and cast iron products. Vehicles are one of the largest sources of old steel scrap used for recycling and nearly 100 percent of cars are recycled for their scrap material. It is expected that the recycling rate for scrap materials from appliances and construction purposes should rise, especially as public interest for recycling grows and profitability increases.

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

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.

This report analyses the average export price ferrous scrap metal over each financial year. Ferrous scrap metal includes waste and scrap of cast iron and stainless steel, remelting ingots of iron and steel, tinned iron or steel, and other ferrous waste and scrap. This also includes ferrous turnings, shavings, milling waste, filings, trimming and stampings. Data for this report is sourced from the Australian Bureau of Statistics, and is measured in dollars per tonne.

In 2023, the amount of hot-rolled round bars of stainless steel imported into Mexico rose markedly to 6.6K tons, surging by 7.1% on the previous year.

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.

The global market for hot-rolled round bars of stainless steel is poised for significant growth in the coming decade, driven by increasing demand worldwide. Market performance is forecast to accelerate with a projected CAGR of +3.6% in volume terms and +4.2% in value terms from 2024 to 2035, reaching 5M tons and $27.4B respectively.

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.