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 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.

The prices of many construction materials in the United Kingdom kept increasing in 2024, but more moderately than in previous years. There were also several building materials whose prices fell that year. One of the most extreme examples was the price of flexible plastic pipes and fittings, which rose by over ** percent that year. The price of a couple steel products fell by over ** percent that year. In late 2024, copper-based products were among the building materials with the highest price increases in the U.S.

United Kingdom ExPI: Non EU: Basic Metals (BM): Basic Iron & Steel & Of Ferro Alloy data was reported at 0.000 2005=100 in Oct 2012. This records a decrease from the previous number of 152.200 2005=100 for Sep 2012. United Kingdom ExPI: Non EU: Basic Metals (BM): Basic Iron & Steel & Of Ferro Alloy data is updated monthly, averaging 66.850 2005=100 from Jan 1996 (Median) to Oct 2012, with 202 observations. The data reached an all-time high of 167.500 2005=100 in Sep 2011 and a record low of 0.000 2005=100 in Oct 2012. United Kingdom ExPI: Non EU: Basic Metals (BM): Basic Iron & Steel & Of Ferro Alloy data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.I046: Foreign Trade Price Index: SIC 2007: 2005=100: Export Price Index: Non EU.

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.

Graph and download economic data for Security Price Index, Coal, Iron, and Steel Shares for London, Great Britain (M11013GB00LONM324NNBR) from Apr 1887 to Mar 1935 about London, coal, iron, steel, United Kingdom, metals, securities, price index, indexes, and price.

This statistic illustrates the monthly product cost index of basic iron, steel and ferroalloys manufactured in the United Kingdom (UK) from July 2016 to July 2018. During the months recorded here, the product cost index of basic iron, steel and ferroalloys reached a peak in July of 2018 at 120.4 points.

United Kingdom ImPI: Non EU: BM: Basic iron & Steel & Of Ferro-alloys data was reported at 119.100 2010=100 in Oct 2018. This records a decrease from the previous number of 119.200 2010=100 for Sep 2018. United Kingdom ImPI: Non EU: BM: Basic iron & Steel & Of Ferro-alloys data is updated monthly, averaging 68.850 2010=100 from Jan 1996 (Median) to Oct 2018, with 274 observations. The data reached an all-time high of 122.800 2010=100 in Jun 2018 and a record low of 26.400 2010=100 in Jan 1999. United Kingdom ImPI: Non EU: BM: Basic iron & Steel & Of Ferro-alloys data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.I044: Foreign Trade Price Index: SIC 2007: 2010=100: Import Price Index: Non EU.

LME Index fell to 4,166.90 Index Points on July 11, 2025, down 0.47% from the previous day. Over the past month, LME Index's price has risen 0.85%, but it is still 1.39% lower than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. LME Index - values, historical data, forecasts and news - updated on July of 2025.

This statistic illustrates the monthly product cost index of batteries and accumulators manufactured in the United Kingdom from December 2020 to December 2021. During this time period, the monthly price index has been steadily rising under 105. In December 2021, the price index stood at 104.8.

This statistic illustrates the monthly producer price index of electric lighting equipment manufactured in the United Kingdom (UK) from December 2020 to December 2021. The price index base year is 2015. In the period of consideration, producer price index of these goods has fluctuated up to some 119.1 in December 2021.

Learn about the increasing demand for hot-rolled stainless steel round bars in the UK market, with projections showing a steady upward trend in consumption over the next decade.

United Kingdom Import Price Index: BoP: MM: Iron & Steel data was reported at 107.000 2013=100 in Jul 2017. This records an increase from the previous number of 104.000 2013=100 for Jun 2017. United Kingdom Import Price Index: BoP: MM: Iron & Steel data is updated monthly, averaging 77.000 2013=100 from Jan 1998 (Median) to Jul 2017, with 235 observations. The data reached an all-time high of 116.000 2013=100 in Jul 2011 and a record low of 38.000 2013=100 in Feb 1999. United Kingdom Import Price Index: BoP: MM: Iron & Steel data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s UK – Table UK.I034: Foreign Trade Price Index: 2013=100: By Commodity. Rebased from 2013=100 to 2015=100 Replacement series ID: 391900717

PPI: Inp: GS: BF: Basic Iron, Steel & Alloys data was reported at 181.700 2015=100 in Jan 2025. This stayed constant from the previous number of 181.700 2015=100 for Dec 2024. PPI: Inp: GS: BF: Basic Iron, Steel & Alloys data is updated monthly, averaging 101.300 2015=100 from Jan 1996 (Median) to Jan 2025, with 349 observations. The data reached an all-time high of 204.200 2015=100 in Jun 2022 and a record low of 68.400 2015=100 in Jul 1999. PPI: Inp: GS: BF: Basic Iron, Steel & Alloys data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.I018: Producer Price Index: SIC 2007: 2015=100: Input.

In 2024, after two years of growth, there was decline in the UK market for welded and cold-formed sections of steel, when its value decreased by -1.6% to $629M. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Welded and cold-formed steel sections consumption peaked at $705M in 2020; however, from 2021 to 2024, consumption remained at a lower figure.

After three years of growth, the UK hot-rolled round stainless steel market decreased by -6.9% to $880M in 2024. Overall, the total consumption indicated a moderate expansion from 2012 to 2024: its value increased at an average annual rate of +3.9% over the last twelve-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Hot-rolled round stainless steel consumption peaked at $945M in 2023, and then dropped in the following year.

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Carbon Steel Market Size 2024-2028

The carbon steel market size is forecast to increase by USD 187.59 billion at a CAGR of 3.58% between 2023 and 2028.

The market is experiencing significant growth, driven primarily by the increasing demand in the construction industry for its durability and cost-effectiveness. This sector's expansion is further fueled by the global shift towards sustainable manufacturing practices, as carbon steel's production process emits less greenhouse gases compared to other steel types. However, the market is not without challenges. Volatile prices of raw materials, such as iron ore and coal, pose a significant threat to market growth. Producers must navigate these price fluctuations to maintain profitability and remain competitive. To capitalize on market opportunities and navigate challenges effectively, companies must focus on operational efficiency, supply chain optimization, and strategic sourcing of raw materials. Additionally, investments in research and development to improve production processes and create value-added products can differentiate market players and provide a competitive edge. Overall, the market presents a compelling growth opportunity for investors and businesses, with the potential for significant returns in the long term.

What will be the Size of the Carbon Steel Market during the forecast period?

Request Free SampleCarbon steel, a fundamental component in construction and engineering, continues to shape industries with its versatile properties and evolving trends. Steel architecture's growth is driven by stringent safety standards and advanced forming processes, leading to innovative product development. Traceability and certification are crucial in ensuring steel's quality and reliability, while R&D and collaborations propel industry 4.0 and circular economy initiatives. Microstructure analysis and inspection standards play a pivotal role in enhancing steel's performance and sustainability. Simulation, testing methods, and optimization software facilitate efficient manufacturing processes and smart steel applications. Industry associations and partnerships foster knowledge exchange and digitalization, enabling a competitive market landscape. Steel's investment potential lies in its versatility, as it adapts to various engineering applications and welding processes. Sustainability initiatives and quality control measures further strengthen its appeal. Green steel, a promising trend, focuses on reducing carbon emissions and improving overall environmental impact. In the realm of steel manufacturing, collaboration, innovation, and adherence to industry standards are key to staying competitive. The future holds exciting possibilities as steel continues to adapt and evolve, offering endless opportunities for businesses.

How is this Carbon Steel Industry segmented?

The carbon 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-userConstructionShipbuildingAutomotiveTransportationOthersTypeLow carbon steelMedium carbon steelHigh carbon steelProductLong SteelFlat SteelTubular SteelGeographyAPACChinaIndiaJapanEuropeFranceGermanyItalyUKNorth AmericaUSCanadaMiddle East and AfricaEgyptKSAOmanUAESouth AmericaArgentinaBrazil

By End-user Insights

The construction segment is estimated to witness significant growth during the forecast period.Carbon steel plays a pivotal role in various industries, including construction, manufacturing, energy, and transportation. In the construction sector, carbon steel's high strength and ductility make it an ideal choice for constructing high-rise buildings, tech parks, roads, highways, bridges, and other infrastructure projects. The global construction industry is experiencing moderate growth, driven by the increasing demand for residential and commercial buildings worldwide. Heavy equipment and industrial machinery also rely heavily on carbon steel for their manufacturing due to its heat resistance and wear resistance. The energy sector utilizes carbon steel pipes and plates for their high strength-to-weight ratio and corrosion resistance, making them suitable for transporting oil and gas. Steel manufacturers employ various processes such as forming, finishing, optimization, and recycling to produce different grades of carbon steel, including high strength steel, stainless steel, and alloy steel. These grades cater to diverse applications, including automotive, aerospace, and advanced technology industries. Steel suppliers and distributors play a crucial role in the steel supply chain by ensuring timely delivery of steel products to various industries. Steel prices are influenced by several factors, including production costs, demand, and market conditions. Steel research an

Building materials made of steel, copper and other metals had some of the highest price growth rates in the U.S. in early 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.

Learn about the expected upward trend in the UK steel market over the next decade, driven by rising demand for raw steel and steel semi-finished products. The market is forecasted to see a slight increase in performance, with a projected CAGR of +0.3% in volume and +1.8% in value from 2024 to 2035.

The UK steel market is expected to see an upward consumption trend over the next decade, driven by rising demand for raw steel and steel semi-finished products. By 2035, the market volume is projected to reach 6.3M tons, with a value of $12.8B in nominal prices.