In 2023, the price of fabricated structural steel in the United Kingdom has fallen by over 20 percent. That came after the cost of that building material soared between 2020 and 2022. Most of that price increase happened in 2021, with a growth rate of 52.6 percent that year. Structural steel is widely used for construction because it is durable, malleable, and strong, while also being cheaper than many other metals. For example, it is often used as a structural material for skyscrapers and other buildings, as well as for infrastructure. Why has the price of steel increased? Those price increases seen until 2022 have not just affected the UK, but many other countries around the world. For example, the cost of fabricated structural metal in the U.S. and that of structural steel and other steel products in Germany reached their highest growth rate in 2022. Supply chain disruptions along with a decrease in the global production of crude steel in 2020 were some of the main reasons for those price hikes in 2021. In addition to that, the price of iron ore, which is the main component of steel, and energy also had a strong impact on the final price of steel products those years. Largest steel producers In the past couple of years, China was by far the largest steel producer in the world, with a production volume that was well over seven times higher than that of the second country in the ranking: India. Although the United States was also on that list along with Japan and Russia, it was not among the leading exporters of steel. The reason for that discrepancy is that a big share of the production in countries of the size of the U.S., China, and India goes to fill their own domestic needs. Meanwhile, nine of the 15 companies with the highest output of steel came from China, with the rest coming from Luxembourg, Japan, South Korea, India, and the U.S.

Steel decreased 101 Yuan/MT or 3.05% since the beginning of 2025, 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 March of 2025.

In the fiscal year 2023, the average price index for ordinary steel products for construction in Tokyo, Japan, stood at 181.2 index points. After rising significantly in 2021 and 2022, prices flattened in 2023.

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 555 U.S. dollars per metric ton—a 15 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 717.7 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 529 billion yuan (approximately 82 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 increased 180.96 USD/T or 25.52% since the beginning of 2025, 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.

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Iron and Steel (WPU101) from Jan 1926 to Feb 2025 about iron, steel, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

The beginning of 2021 saw a sharp increase in the steel demand, at a time when metallurgical plants were still recovering from the operational downtime incurred during the lockdown, increasing steel stock exchange prices. The recovery of the automotive sector and other downstream industries in 2020, at a faster pace than expected, generates the conditions for robust steel demand in the medium term.

Learn how disruptions in the supply chain caused by the COVID-19 pandemic and growing demand for silicon metal in various industries led to a significant increase in the price of silicon metal in 2021, reaching its peak in September.

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 66 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 nine percent in fiscal year 2024.

In 2021, iron and steel recycling in the U.S. stood at nearly 20 billion U.S. dollars, a year-over-year increase of over 90 percent. This increase was mainly associated with iron and steel scrap prices nearly doubling in the period. At over 400 U.S. dollars per metric ton, it was the highest price recorded in at least a decade.

Metal and Steel Price: Delhi: Melting Scrap HMS-II data was reported at 40,900.000 INR/Metric Ton in Jan 2022. This records an increase from the previous number of 40,470.000 INR/Metric Ton for Dec 2021. Metal and Steel Price: Delhi: Melting Scrap HMS-II data is updated monthly, averaging 23,750.000 INR/Metric Ton from Aug 2003 to Jan 2022, with 215 observations. The data reached an all-time high of 46,020.000 INR/Metric Ton in Oct 2021 and a record low of 10,950.000 INR/Metric Ton in Sep 2003. Metal and Steel Price: Delhi: Melting Scrap HMS-II data remains active status in CEIC and is reported by Joint Plant Committee. The data is categorized under India Premium Database’s Metal and Steel Sector – Table IN.WAC004: Metal and Steel Retail Prices: Delhi: Monthly.

Graph and download economic data for Producer Price Index by Industry: Iron and Steel Pipe and Tube Manufacturing from Purchased Steel: Iron and Steel Pipes and Tubes, from Purchased Iron and Steel (PCU3312103312100) from Jan 1967 to Feb 2025 about iron, purchase, steel, PPI, industry, inflation, price index, indexes, price, and USA.

Iron Ore decreased 1.36 USD/MT or 1.31% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Iron Ore - values, historical data, forecasts and news - updated on March of 2025.

In 2024, shipments abroad of flat-rolled products of iron or steel (not further worked than hot-rolled) increased by X% to X tons for the first time since 2021, thus ending a two-year declining trend. In general, exports, however, continue to indicate a mild decrease. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, the exports attained the maximum at X tons in 2013; however, from 2014 to 2024, the exports failed to regain momentum.

Metal and Steel Price: Delhi: Wire Rods 8 mm data was reported at 61,950.000 INR/Metric Ton in Feb 2025. This records an increase from the previous number of 60,390.000 INR/Metric Ton for Dec 2021. Metal and Steel Price: Delhi: Wire Rods 8 mm data is updated monthly, averaging 40,550.000 INR/Metric Ton from Aug 2003 (Median) to Feb 2025, with 217 observations. The data reached an all-time high of 62,540.000 INR/Metric Ton in Nov 2021 and a record low of 21,000.000 INR/Metric Ton in Sep 2003. Metal and Steel Price: Delhi: Wire Rods 8 mm data remains active status in CEIC and is reported by Joint Plant Committee. The data is categorized under India Premium Database’s Metal and Steel Sector – Table IN.WAC008: Metal and Steel Retail Prices: New Delhi: Monthly.

The Puerto Rican steel spring market reduced rapidly to $X in 2021, waning by -15% against the previous year. Over the period under review, the total consumption indicated a resilient increase from 2012 to 2021: its value increased at an average annual rate of +5.4% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +21.5% against 2019 indices. Puerto Rico consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

France FR: PPI: Mfg: BF: BM: Iron & Steel data was reported at 99.800 2021=100 in Dec 2024. This records an increase from the previous number of 99.200 2021=100 for Nov 2024. France FR: PPI: Mfg: BF: BM: Iron & Steel data is updated monthly, averaging 83.350 2021=100 from Jan 2007 (Median) to Dec 2024, with 216 observations. The data reached an all-time high of 146.100 2021=100 in Jun 2022 and a record low of 68.400 2021=100 in Mar 2016. France FR: PPI: Mfg: BF: BM: Iron & Steel data remains active status in CEIC and is reported by Eurostat. The data is categorized under Global Database’s France – Table FR.Eurostat: Producer Price Index: 2021=100.

United States PPI: Mfg: PM: IM: PP: Cold Rolled Steel Sheet & Strip data was reported at 276.900 Jun1982=100 in Feb 2021. This records an increase from the previous number of 254.100 Jun1982=100 for Jan 2021. United States PPI: Mfg: PM: IM: PP: Cold Rolled Steel Sheet & Strip data is updated monthly, averaging 112.800 Jun1982=100 from Jan 1965 (Median) to Feb 2021, with 626 observations. The data reached an all-time high of 276.900 Jun1982=100 in Feb 2021 and a record low of 29.700 Jun1982=100 in Jul 1966. United States PPI: Mfg: PM: IM: PP: Cold Rolled Steel Sheet & Strip data remains active status in CEIC and is reported by U.S. Bureau of Labor Statistics. The data is categorized under Global Database’s United States – Table US.I086: Producer Price Index: by Industry: Manufacturing: Primary and Fabricated Metal Products.

China Steel: Large & Medium Enterprise: Cost of Sales: Year to Date data was reported at 1,366,618.690 RMB mn in Mar 2022. This records an increase from the previous number of 865,222.120 RMB mn for Feb 2022. China Steel: Large & Medium Enterprise: Cost of Sales: Year to Date data is updated monthly, averaging 1,656,149.780 RMB mn from Dec 2007 (Median) to Mar 2022, with 86 observations. The data reached an all-time high of 6,180,657.350 RMB mn in Dec 2021 and a record low of 131,966.790 RMB mn in Jan 2009. China Steel: Large & Medium Enterprise: Cost of Sales: Year to Date data remains active status in CEIC and is reported by China Iron and Steel Association. The data is categorized under China Premium Database’s Metal and Steel Sector – Table CN.WAH: Steel Industry: Financial Data: Large & Medium Enterprise. contact us

As per Cognitive Market Research's latest published report, The Europe Metal Heat Treatment market size will be $26,266.36 Million by 2029. The Europe Metal Heat Treatment Industry's Compound Annual Growth Rate will be 2.66% from 2023 to 2030. What is the Driving Metal Heat Treatment Market?

Rising vehicle production

The need for vehicles has increased as the population has grown. Almost every family in Europe owns at least one vehicle. People rely on automobiles as a need is drastically increasing. People use automobiles to commute to work, visit another state, go on vacation, and do daily errands. Vehicles, in reality, are the most extensively utilized equipment for transportation and other basic everyday necessities.

According to the study, around 11.7 million new cars were registered in the EU and the UK in 2020. Since the past few months, Spain, Germany, UK, are bouncing at a rapid rate after the pandemic. In 2021, Germany produced some 3.1 million passenger cars and Spain produced 1.7 million passenger cars. Similarly, in March 2021, new car sales in Europe are raised by 63% as compared to March 2020.

According to JATO statistics for 26 European markets, automotive sales volume increased from 842,094 units in March 2020 to 1,374,313 units in March 2021. The total sales volume in Q1/2021 increased by 1% to 3,045,703 vehicles.

Despite enormous attempts to build cars with all aluminum auto bodywork, most automobiles today are built of iron and steel (70%), aluminum (6%), plastics (9%), rubber (4%), glassware (3%), and other materials. Thus, the demand for metal heat treatment methods is rising rapidly as it plays a significant role in achieving the desired parts of vehicles. The heat treatment process is widely used in the automotive industry for engine and powertrain, wheels and drivetrain, brakes, chassis, suspension, steering, and many others.

The component of the engines, transmission, wheels, and drivetrain are subject to endure high temperatures, corrosive chemicals, and the ever-present wear and tear that come from normal engine operation. In this scenario metal heat treatment process help to achieve this goal.

Furthermore, brakes in the automotive are more vulnerable to wear and tear. Thus, metal heat treatment is used in the brakes to withstand these situations. Typically, the components that receive heat treatment in brakes include the brake web and caliper piston.

Additionally, automotive heat treatment is required for a vehicle's bodywork and suspension. As suspension and steering components are the most exposed to weather, chemicals, and debris on the road surface, they require strong resistance to wear and corrosion. To preserve the integrity and endurance of these critical parts, heat treatment is performed. Seating, ball studs, torsion bars, arm levers, pins and fasteners, and other applications make use of it.

As a result, rising vehicle production drives the growth of the Europe metal heat treatment market.

Rise in the number of developmental projects being undertaken is driving market demand

Restrains of the Europe Metal Heat Treatment Market

Fluctuation in raw material prices. (Access Detailed Analysis in the Full Report Version)

Opportunities of the Europe Metal Heat Treatment Market

Rapid industrialization.(Access Detailed Analysis in the Full Report Version)

What is Metal Heat Treatment?

Metal heat treatment is the process of altering the physical properties of metal at various stages through the usage of heating and cooling procedures. The metal is heated to a specific temperature and then it is cooled down to harden the metal. When metal is heated its microstructure changes this in turn changes the physical properties of metal.

The goal of this heat treatment process is directed towards improving physical and structural properties for special use or for future use. Thus, by making the use of metal heat treatment method, it is possible to advance wear resistance, corrosion resistance, durability, toughness, strength, magnetic properties, and many other properties of metal.

Several metals such as steel, cast iron, and many others undergo hardening & tempering, annealing, case hardening, normalizing, and more processes in the metal heat treatment process. Thus, metal heat treatment become a significant process of mechanical CNC parts and mold manufacturing. The p...