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.

Monthly and long-term steel (usa) price data (US$/mt): historical series and analyst forecasts curated by FocusEconomics.

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.

Structural steel (FOB India) prices fell YoY in late 2023. From Oct ($598) to Dec ($515), consistent ~11-12% monthly drops were observed.

This statistic shows steel scrap prices worldwide between the 2013 and 2016 calendar years, and gives a forecast through 2021. In 2018, it is expected that the price of steel scrap will come to around *** U.S. dollars per metric ton.

Monthly and long-term steel (europe) price data (US$/mt): historical series and analyst forecasts curated by FocusEconomics.

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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

The Crude Steel Market Report is Segmented by Composition (Killed Steel and Semi-Killed Steel), Manufacturing Process (Basic Oxygen Furnace (BOF) and Electric Arc Furnace (EAF)), End-User Industry (Building and Construction, Transportation, and Other End-User Industries), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The Market Forecasts are Provided in Terms of Volume (Tons).

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).

In Q3 2025, North America, the Electrical Steel Price Index fell by 5.38% quarter-over-quarter, reflecting weak demand. Check detailed insights for Europe and APAC.

In Q3 2025, North America, the Stainless Steel (Flat)Price Index fell by 1.67% quarter-over-quarter, reflecting weaker downstream demand. Check detailed insights for Europe and APAC.

The global steel market size attained a volume of around 1738.39 MMT in 2024. The market is projected to grow at a CAGR of 2.24% between 2025 and 2034 to reach a volume of nearly 2169.48 MMT by 2034.

The growing demand in the steel market is due to the increasing infrastructure investments and expanding sectors including automotive and construction. Rising urbanization needs and an increasing need for durable materials in urban development projects have motivated the growth to a great extent. Since the automotive industry requires high-quality steel products to manufacture vehicles, it plays a significant role in steady growth. Steel usage for the production of components that are quantitatively effective is expected to be driven by the renewable energy sectors, particularly the wind and solar energy industries.

The steel sector is set to grow as global infrastructure investment rises, with a particular emphasis on developing high-performance materials in line with environmental pledges.

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Carbon Steel Market Size 2025-2029

The carbon steel market size is valued to increase by USD 197.5 billion, at a CAGR of 3.3% from 2024 to 2029. Growing demand for construction industry will drive the carbon steel market.

Market Insights

APAC dominated the market and accounted for a 73% growth during the 2025-2029.
By End-user - Construction segment was valued at USD 405.20 billion in 2023
By Type - Low carbon steel segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 29.44 billion 
Market Future Opportunities 2024: USD 197.50 billion
CAGR from 2024 to 2029 : 3.3%

Market Summary

Carbon steel, a versatile alloy of iron and carbon, is a cornerstone of global industries due to its exceptional strength, durability, and cost-effectiveness. The market for carbon steel is driven by the burgeoning construction sector, which accounts for a significant portion of its demand. Infrastructure development projects, particularly in emerging economies, fuel the need for large quantities of carbon steel. Moreover, the increasing adoption of sustainable manufacturing practices has led to the steel industry's evolution, with carbon steel being a key material in the production of green steel through the electric arc furnace process. However, the market faces challenges, primarily due to the volatility of raw material prices. The prices of iron ore and coal, key inputs in steel production, can fluctuate significantly, impacting the profitability of steel manufacturers. A real-world business scenario illustrates this challenge. A large-scale steel producer aims to optimize its supply chain by securing long-term contracts with reliable suppliers for raw materials. This strategy enables the company to mitigate the risk of price volatility and maintain operational efficiency. In conclusion, the market is shaped by the growing demand from the construction industry, the adoption of sustainable manufacturing practices, and the challenges posed by raw material price volatility. Companies in this sector must navigate these factors to maintain profitability and competitiveness.

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

Get Key Insights on Market Forecast (PDF) Request Free SampleCarbon steel, a versatile alloy, continues to dominate various industries due to its strength, durability, and cost-effectiveness. Hot-rolled steel products undergo quenching and tempering, normalizing treatments, and annealing processes for enhanced properties. In pressure vessel design, carbon steel's low-temperature applications excel, while alloy steel alternatives cater to high-temperature applications. Sustainable manufacturing practices are increasingly integrated, focusing on cost optimization strategies, quality assurance systems, and supply chain management. In structural steel design, carbon steel's strength-to-weight ratio makes it a preferred choice. Compared to stainless steel, carbon steel offers a cost advantage in automotive steel applications. Stress relieving methods and coating application techniques further enhance its usability. Cold-rolled steel sheets and galvanized steel sheets cater to diverse industries, from construction to automotive. Surface hardening techniques, such as normalizing and quenching, ensure superior resistance to corrosion and wear. Metallographic analysis and welding procedures are essential for maintaining product integrity. Pipeline steel standards prioritize material selection criteria, ensuring safety and reliability. Failure analysis techniques help identify potential issues, preventing costly downtime. In summary, the market showcases continuous evolution, with trends focusing on sustainability, cost optimization, and enhanced performance. Companies prioritize compliance with industry standards, ensuring the delivery of high-quality products. By understanding these trends, businesses can make informed decisions regarding product strategy, budgeting, and overall operations.

Unpacking the Carbon Steel Market Landscape

Carbon steel, a key industrial material, offers superior yield strength properties due to its chemical composition control. Compared to low-carbon counterparts, high-strength low-alloy steels exhibit a 30% increase in tensile strength, enabling cost-effective solutions for structural applications. Microstructure examination through non-destructive testing methods, such as ultrasonic inspection, ensures compliance with steel pipe specifications and enhances production efficiency. Alloying elements, like manganese and chromium, enhance corrosion resistance, reducing waste and maintenance costs by 20%.

Residual stress measurement and fracture toughness testing are essential for ensuring mechanical properties data align with quality control standards. Heat treatment processes, including

The global special steel market size in 2020 amounted to ***** billion U.S. dollars, a year-on-year decrease of **** percent. Nonetheless, the special steel market size is expected to increase constantly in the coming years, reaching almost *** billion U.S. dollars by the end of 2027.

The Stainless Steel Market Report Segments the Industry by Product Type (Flat Products and Long Products), Form (Hot Rolled, Cold Rolled, and Cold Drawn), Grade (200 Series, 300 Series, and More), Application (Building and Construction, Automotive and Transportation, Metal Products, Electrical Machinery, and More), and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa).

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Steel Market Size 2025-2029

The steel market size is valued to increase USD 307.4 billion, at a CAGR of 4.5% from 2024 to 2029. Urbanization and infrastructure development will drive the steel market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 67% growth during the forecast period.
By Type - Flat steel segment was valued at USD 797.80 billion in 2023
By Application - Structural steel segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 28.76 billion
Market Future Opportunities: USD 307.40 billion
CAGR from 2024 to 2029 : 4.5%

Market Summary

The market is a significant player in the industrial sector, with a current size of over 1,300 million metric tons in annual production. This market's expansion is primarily driven by urbanization and infrastructure development, as steel is a crucial component in constructing buildings, bridges, and transportation systems. Additionally, there is a growing trend toward sustainable steel production, as companies seek to reduce their carbon footprint and meet increasing environmental regulations. However, the market faces challenges from trade barriers and protectionist policies, which can disrupt global supply chains and impact pricing. These issues can lead to volatility in the market and create uncertainty for businesses.
Despite these challenges, the steel industry continues to evolve, with innovations in production methods and materials driving efficiency and cost savings. As the world's population grows and urbanizes, the demand for steel is expected to remain strong, making it an essential commodity for businesses across various industries.

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

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How is the Steel Market Segmented ?

The steel industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Flat steel
  Long steel


Application

  Structural steel
  Automotive steel
  Electrical steel
  Packaging steel


End-user

  Construction
  Transportation
  Machinery
  Metal goods
  Others


Method

  Basic oxygen furnace
  Electric arc furnace
  Open hearth furnace


Geography

  North America

    US
    Mexico


  Europe

    Germany
    Italy
    Russia


  Middle East and Africa

    Turkey


  APAC

    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By Type Insights

The flat steel segment is estimated to witness significant growth during the forecast period.

In the ever-evolving market, flat steel, a significant sector, is characterized by its versatility and robustness. This category includes hot-rolled coils (HRC), cold-rolled coils (CRC), galvanized steel, tinplate, and steel plates, each designed to meet specific industrial demands. Hot-rolled steel sheets offer high yield strength and tensile strength, while cold-rolled steel sheets provide improved surface finish and formability. Galvanized steel coatings ensure corrosion resistance, making them ideal for harsh environments. The steel industry continues to innovate, with advancements in heat treatment processes, steel weldability, and microalloyed steel grades. Ductile iron properties and stainless steel grades cater to high-strength applications, while steel forming processes enhance production efficiency.

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The Flat steel segment was valued at USD 797.80 billion in 2019 and showed a gradual increase during the forecast period.

Steel quality control is ensured through non-destructive testing and microstructure analysis. The steel industry's focus on research and development has led to the emergence of high-strength low-alloy steel, which boasts impressive strength-to-weight ratios. A notable example of flat steel's impact is its extensive use in the automotive sector, where it contributes to the manufacturing of body panels and structural components. In fact, the automotive industry accounts for approximately 16% of global steel consumption. As the market continues to evolve, the demand for advanced materials and processing technologies will persist, driving innovation and growth within this essential industry.

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Regional Analysis

APAC is estimated to contribute 67% to 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.

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The market in the Asia-Pacific (APAC) region is experiencing significant growth, fueled by industrial expansion, infrastructure devel

In Q3 2025, USA, the Steel Plate Price Index fell by 4.89% quarter-over-quarter, reflecting persistent demand softness and oversupply. Check detailed insights for Europe and APAC.

Track Stainless Steel 304 price trends with monthly, quarterly, and yearly data for 2024–2025. Get expert forecasts, historical charts, and regional insights to plan your sourcing.

Get the latest insights on price movement and trend analysis of Steel Scrap in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

The steel rebar prices in the United States for Q3 2024 reached 860 USD/MT in September. The region experienced notable price drops amid declining demand and excess supply. Prices consistently trended downward, with a minor decrease at the end of the quarter. This persistent bearish sentiment highlighted ongoing challenges in stabilizing the market as excess supply continued to weigh heavily on pricing dynamics.