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.

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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. The stainless ste

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.

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

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.

The global stainless steel market is projected to reach USD 173.6 billion by 2035, recording an absolute increase of USD 39.3 billion over the forecast period.

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.

The global stainless steel market, exhibiting a Compound Annual Growth Rate (CAGR) of 4.69% from 2019 to 2024, is poised for continued expansion. Driven by robust demand from the construction, automotive, and consumer goods sectors, the market is projected to reach significant value in the coming years. Factors such as increasing urbanization, rising disposable incomes in developing economies, and the growing preference for durable and corrosion-resistant materials are key growth drivers. Technological advancements in stainless steel production, focusing on enhanced properties and sustainable manufacturing practices, further contribute to market expansion. However, fluctuating raw material prices (primarily nickel and chromium) and environmental concerns related to steel production present challenges to consistent growth. The market is segmented by various grades of stainless steel (e.g., austenitic, ferritic, martensitic), applications, and geographic regions. Major players, including ArcelorMittal, Nippon Steel Corporation, and POSCO, dominate the market landscape through their extensive production capabilities and global distribution networks. Competition is intense, with companies focusing on product innovation, strategic partnerships, and acquisitions to maintain market share and profitability. The forecast period of 2025-2033 anticipates continued market growth, albeit at a potentially moderated pace due to the interplay of favorable market forces and potential economic headwinds. Specific regional market dynamics will influence the pace of expansion in different geographical areas. Considering a base year market size of $XX million (this value needs to be provided to accurately project future values), and a 4.69% CAGR, the market demonstrates significant growth potential. Despite potential restraints like fluctuating raw material prices, the underlying drivers suggest the market will surpass previous growth rates within the forecast period (2025-2033). The strategic focus by market leaders on technological advancements and sustainable practices suggests a continued robust outlook, while challenges related to economic cycles and environmental regulations will impact the market's trajectory. A deeper analysis of individual regional markets and specific application segments would provide a more granular understanding of the market dynamics. Recent developments include: January 2023: North American Stainless (NAS), the largest fully-integrated stainless steel producer in the United States, confirmed the USD 244 million expansion of its Ghent, Kentucky facility in Carroll County. This expansion will increase NAS' total capacity by 200,000 tons annually, representing a 20% growth to meet the rising demand for top-of-the-line stainless products from customers., December 2022: Jindal Stainless received regulatory approval for its merger with Jindal Stainless (Hisar) from the National Company Law Tribunal (NCLT).. Key drivers for this market are: Growing Demand from Construction Industry, Increasing Demand from Automotive Industry; Other Drivers. Potential restraints include: Growing Demand from Construction Industry, Increasing Demand from Automotive Industry; Other Drivers. Notable trends are: Increasing Usage in the Construction Industry.

The Brazilian hot-rolled round stainless steel market expanded modestly to $857M in 2024, rising by 1.7% against the previous year. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. Hot-rolled round stainless steel consumption peaked at $860M in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

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.

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Stainless Steel 400 Series Market Size 2024-2028

The stainless steel 400 series market size is forecast to increase by USD 11.49 billion at a CAGR of 6.67% between 2023 and 2028.

The market is experiencing significant growth due to several key factors. The economic expansion in China and India is driving demand for this type of stainless steel, as it is widely used in various industries In these countries. Additionally, the increased penetration of the stainless steel 400 series in industrial applications, such as chemical processing and power generation, is contributing to market growth. The market is seeing increased demand due to its use in cladding applications, offering a combination of strength, corrosion resistance, and aesthetic appeal for various architectural and industrial projects. However, the market is also facing challenges, including the volatility of raw material prices, which can impact the cost-effectiveness of producing and using the stainless steel 400 series. Producers must carefully manage their supply chains and production costs to remain competitive In the market. Overall, the market is expected to continue growing due to its versatility, durability, and increasing demand from various end-use industries.

What will be the Size of the Stainless Steel 400 Series Market During the Forecast Period?

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The market encompasses a diverse range of corrosion-resistant alloys, primarily composed of iron, chromium, nickel, molybdenum, and other elements. These alloys, including 304 and 316 stainless steels, are renowned for their strength, durability, and resistance to various environmental conditions. The market for Stainless Steel 400 series alloys serves numerous industries, including consumer goods, such as cutlery and kitchen appliances, automotive components, industrial equipment, construction, and architectural applications. Applications span from handrails and drainage systems to roofing and cladding, reflecting the versatility of these materials. The market has experienced steady growth, driven by increasing demand for sustainable and long-lasting materials in various sectors.
Raw material prices, particularly chromium and nickel, have influenced market dynamics, but the overall trend remains positive. As the demand for stainless steel continues to grow, its usage extends beyond traditional industries to emerging sectors like renewable energy and electric vehicles. The market is expected to maintain its momentum, offering significant opportunities for manufacturers and end-users alike.

How is this Stainless Steel 400 Series Industry segmented and which is the largest segment?

The 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

  Consumer goods
  Mechanical engineering and heavy industries
  Automotive and transportation
  Building and construction
  Others


Product Type

  Plate and sheet
  Bar and tubular
  Structural


Geography

  APAC

    China
    India
    Japan
    South Korea


  Europe



  North America

    US


  Middle East and Africa



  South America

By End-user Insights

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

The market encompasses a diverse range of materials, primarily composed of iron, chromium, and nickel. These corrosion-resistant alloys are widely used in various industries, including consumer goods, automotive components, industrial equipment, construction, and architectural cladding. The 400 series stainless steels, specifically 304 and 316, offer superior corrosion resistance and are commonly utilized in cookware, kitchen sinks, ornamental items, automotive parts, consumer electronics, and building and construction. The cost-effectiveness, high strength, and durability of the 400 series stainless steels make them an attractive choice for manufacturers. These alloys are fabricated using advanced refining methods, such as vacuum induction melting, electro slag refining, and computational modeling, ensuring consistent alloy compositions.

Molybdenum additions enhance the corrosion resistance of these alloys, making them suitable for demanding applications. The 400 series stainless steels cater to various industries, including automotive and transportation, mechanical engineering, heavy industries, aerospace, and home components. In export-oriented economies, the demand for these alloys is significant due to their versatility and superior performance. The market is expected to grow due to its extensive applications and the increasing demand for high-performance materials.

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The Consumer goods segment was value

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 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 December of 2025.

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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 September 2022, the forged stainless steel bar price stood at $7,618 per ton (CIF, Spain), picking up by 18% against 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 Sep 2025 about iron, steel, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

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 July 2022, the stainless steel seamless pipe price stood at $5,138 per ton (CIF, India), flattening at the previous month.