In 2023, the price of fabricated structural steel in the United Kingdom has fallen by over ** 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 **** 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 ***** 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, **** of the ** 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 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.

Building materials made of steel, copper and other metals had some of the highest price growth rates in the U.S. in the first half of 2025 in comparison to the previous year. The growth rate of the cost of several construction materials was slightly lower than in late 2024. It is important to note, though, that the figures provided are Producer Price Indices, which cover production within the United States, but do not include imports or tariffs. This might matter for lumber, as Canada's wood production is normally large enough that the U.S. can import it from its neighboring country. Construction material prices in the United Kingdom Similarly to these trends in the U.S., at that time the price growth rate of construction materials in the UK were generally lower 2024 than in 2023. Nevertheless, the cost of some construction materials in the UK still rose that year, with several of those items reaching price growth rates of over **** percent. Considering that those materials make up a very big share of the costs incurred for a construction project, those developments may also have affected the average construction output price in the UK. Construction material shortages during the COVID-19 pandemic During the first years of the COVID-19 pandemic, there often were supply problems and material shortages, which created instability in the construction market. According to a survey among construction contractors, the construction materials most affected by shortages in the U.S. during most of 2021 were steel and lumber. This was also a problem on the other side of the Atlantic: The share of building construction companies experiencing shortages in Germany soared between March and June 2021, staying at high levels for over a year. Meanwhile, the shortage of material or equipment was one of the main factors limiting the building activity in France in June 2022.

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.

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.

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Cold Rolled Steel Sheet and Strip (WPU101707) from Jun 1982 to Sep 2025 about steel, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

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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

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.

View monthly updates and historical trends for US Producer Price Index: Iron and Steel Mills. from United States. Source: Bureau of Labor Statistics. Trac…

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.

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The high strength steel market share is expected to increase by USD 14.51 million from 2019 to 2024, and the market’s growth momentum will accelerate at a CAGR of 10.14%

This high strength steel market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers high strength steel market segmentation by application (automotive, construction, aviation, and others) and geography (APAC, North America, Europe, South America, and MEA). The high strength steel market report also offers information on several market vendors, including ArcelorMittal SA, Essar Steel India Ltd., HBIS Group Co. Ltd., Hyundai Steel Co., JSW STEEL Ltd., Nippon Steel Corp., Nucor Corp., POSCO, Tata Steel Ltd., and United States Steel Corp. among others.

What will the High Strength Steel Market Size be During the Forecast Period?

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High Strength Steel Market: Key Drivers, Trends, and Challenges

Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The growing demand for high strength steel in the automobile industry is notably driving the high-strength steel market growth, although factors such as the volatile prices of raw materials may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the high strength steel industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key High Strength Steel Market Driver

The growing demand for high-quality automobile components is one of the major factors driving the market growth. Because of the performance of high-strength steel in comparison to low and mild-strength steel, automotive manufacturers mainly prefer high-strength steel over mild-strength steel for manufacturing vehicle components that find applications for indoor beams, chassis, bumpers, and cross-members and seating. With the increasing growth of the automotive industry, this demand for manufacturing high-quality components will significantly fuel the growth of the high-strength steel market.

Key High Strength Steel Market Trend

The rising demand in the wind energy sector is another factor supporting the high-strength steel market growth. The demand for renewable energy is growing with the rise in environmental concerns. The wind energy sector is growing with the increasing establishment of wind turbines and is expected to surpass other sources of renewable power generation. The rising global demand for wind energy for the generation of electricity has increased the demand for more installation of wind turbines. The components of wind turbines require high-strength materials for better performance and extended service life. AHSS is used in manufacturing different parts of turbines, including towers, gearboxes, and motor houses. Therefore, the increasing installation of wind turbines will drive the demand for high-strength steel.

Key High Strength Steel Market Challenge

The volatile prices of raw materials will be a major challenge for the high-strength steel market during the forecast period. In the past few years, the prices of iron ore witnessed major fluctuations, which has affected the prices of crude steel and finished steel products. Although the demand for steel is increasing in the automotive, construction, marine, aviation, and other industries, the fluctuating prices of raw materials are hampering the growth of the steel market. The fluctuating prices of iron ore are attributed to the mining disruptions in Australia and Brazil. The disruptions have also reduced the steel import rate in China as the shipments from both Australia and Brazil have decreased significantly. In addition, owing to revised environmental policies, China is expected to restrict its steel production, which will increase the prices of iron ore and steel. Therefore, the increase in the prices of steel is expected to limit the growth of the global AHSS market during the forecast period.

This high-strength steel market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global high-strength steel market as a part of the global steel market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the high-strength

The global high-strength steel market was valued at USD 35.80 billion in 2022 and is projected to reach USD 65.28 billion by 2030, registering a CAGR of 7.8% for the forecast period 2023-2030. Factors Affecting High Strength Steel Market Growth

Increasing demand from the automotive industry: 

Increasing demand from the automotive industry for high-strength steel drives the market. As the population and income rise, the demand for automobiles or vehicles is also boosting. According to data from the Ministry of Industry and Information Technology, passenger vehicles sold in China in 2021 show an increase of 7.1 % from 2020. This growth in vehicle manufacturing directly translates into higher demand for high-strength steel. High-strength steel offers a superior strength-to-weight ratio, improved crashworthiness, and fuel efficiency. High-strength steel has properties useful in automotives such as improved toughness properties even at low temperatures, improved weldability, and excellent formability. As automotive manufacturers strive to meet stringent safety regulations and enhance fuel economy, the demand for high-strength steel in the production of lightweight vehicles is growing, surging the high-strength steel market growth.

Growing infrastructure and construction activities:

As the population is rising, the demand for construction activities such as the construction of new buildings and houses is also increasing. People are investing in construction due to urbanization, and population growth. In China, according to estimates, during the 14th five-year plan period from 2021 to 2025, the overall investment in new infrastructure will roughly reach around $ 4.2 trillion. High-strength steel is widely used in construction projects, such as bridges, buildings, and stadiums. High-strength steel reduces material consumption, lowering the erection and transportation costs. HSS is used widely in tall structures and is incorporated in bars to exhibit a specific quantity of deformation under heavy-loaded actions due to its inelastic ability. Thus, the demand for high-strength steel in these sectors is driven by factors like urbanization, population growth, and the need for durable and structurally sound constructions.

The Restraining Factor of High Strength Steel:

High cost of production of high-strength steel:

High-strength steel tends to be more expensive compared to conventional steel and other materials like aluminum. Iron ore is the major material that is used in the production of high-strength steel. Also, other materials such as nickel, chromium, and copper are of importance in the production of high-strength steel. As the cost of these materials like iron ore and other materials is high it directly impacts the cost of high-strength steel by making it expensive. This higher cost can make it less affordable for certain industries, especially those operating on tight budgets or in cost-sensitive markets. Manufacturers and end-users may opt for lower-cost alternatives, consisting of the potential benefits of high-strength steel which may hinder the market of high-strength steel.

Impact of the COVID-19 Pandemic on the High-Strength Steel Market:

The outbreak of COVID-19 hurt the high-strength steel market. The government-imposed lockdowns across various countries disturbed the supply chain and decreased the activities such as the production and utilization of high-strength steel by various industries as the industries’ activities were also paused. Construction projects and infrastructure developments were significantly affected by the pandemic. Many projects were delayed or put on hold due to labor shortages, supply chain disruptions, and financial uncertainties. As a result, the demand for high-strength steel used in construction applications, such as buildings, bridges, and infrastructure was negatively affected. Vehicle production was disrupted due to factory shutdowns, reduced consumer demand, and supply chain interruptions. As a result, the demand for high-strength steel used in automotive applications, such as body frames and components, was significantly impacted. As the pandemic situation improved and the pandemic situation improved and countries began to reopen their economies, the high-strength steel market started to recover. The resumption of construction projects, infrastructure investments, and automotive production contributed to t...

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

ArcelorMittal's average steel selling price in the NAFTA region fluctuated from 2013 to 2020 between approximately 670 and 850 U.S. dollars per metric ton. However, in 2021, the average price increased dramatically by about 60 percent compared to the previous year. After two years of constant increase, the average selling price has been declining the last two years and was recorded at *** U.S. dollars per metric ton in 2024.

Metal and Steel Price: Chennai: Joists 200x100 mm data was reported at 63,450.000 INR/Metric Ton in Jan 2022. This records an increase from the previous number of 61,720.000 INR/Metric Ton for Dec 2021. Metal and Steel Price: Chennai: Joists 200x100 mm data is updated monthly, averaging 41,355.000 INR/Metric Ton from Aug 2003 to Jan 2022, with 218 observations. The data reached an all-time high of 67,150.000 INR/Metric Ton in Oct 2021 and a record low of 21,800.000 INR/Metric Ton in Dec 2003. Metal and Steel Price: Chennai: Joists 200x100 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.WAC002: Metal and Steel Retail Prices: Chennai: Monthly.

Aluminum fell to 2,884.05 USD/T on December 2, 2025, down 0.29% from the previous day. Over the past month, Aluminum's price has fallen 0.99%, but it is still 10.42% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Aluminum - values, historical data, forecasts and news - updated on December of 2025.

Price-To-Tangible-Book-Ratio Time Series for Hang Xiao Steel Structure Co Ltd. Hang Xiao Steel Structure Co.,Ltd, together with its subsidiaries, engages in the steel structure and engineering procurement construction contracting services in China and internationally. It operates through Construction, Building Materials, and Others segments. The company engages in production, sale, and installation of steel structure products and building panels. It also designs, manufactures, and constructs light steel structures, bridge steel structures, large-span space steel structures, multi-story steel structures, super high-rise steel structures, and steel-structured residential buildings. In addition, the company provides green building materials; and technical and corporate management consulting, technical, corporate brand management, construction engineering design, housing construction, and import and export services. Its products are widely used in office buildings, large factories, residences, hospitals, schools, stadiums, exhibition centers, high-speed rail stations, airports, roads, and bridges, etc. Further, the company is involved in architectural design; wholesale and retail of building materials; Internet of Things technology research and development; financial and special equipment manufacturing industries; Internet and related services; hotel and property management; research and experimental development; construction labor subcontracting; and provision of photovoltaic equipment and components. Hang Xiao Steel Structure Co.,Ltd was founded in 1985 and is headquartered in Hangzhou, China.

In 2024, iron ore was worth an average of approximately *** U.S. dollars per dry metric ton unit (dmtu), compared to only ** U.S. dollars per dmtu in 2000. The month with the highest average iron ore price in 2021 was June, at over *** U.S. dollars per dmtu. Iron ore: market context and price fluctuation Iron ore is composed of minerals and rocks from which metallic iron can be extracted. Iron ore is an important part of the world economy, as a large proportion of iron ore is used to make steel, which is a widely used material globally. In a given year, the monthly price of iron ore varies noticeably, ranging for example from a high of ****** U.S. dollars per dmtu in June 2021 down to a low of ***** U.S. dollars per dmtu in November 2021. Major iron ore producing nations Australia has the world's largest iron ore reserves, at ** billion metric tons of crude iron ore and is also the world's largest producer of iron ore. Not surprisingly, China, the world's leading steel manufacturer, is also the world's leading importer of iron. In recent years, China's iron imports have increased significantly, from ****** million metric tons in 2004, to over *** billion metric tons in 2018.

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.I: Producer Price Index: by Industry: Manufacturing: Primary and Fabricated Metal Products.

Copper rose to 5.19 USD/Lbs on December 2, 2025, up 0.35% from the previous day. Over the past month, Copper's price has risen 3.22%, and is up 25.36% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Copper - values, historical data, forecasts and news - updated on December of 2025.