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 average hot-rolled free-cutting steel export price stood at $1,118 per ton in February 2025, almost unchanged from the previous month.

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.

In 2024, the Canadian hot-rolled steel products market decreased by -6.3% to $6.1B, falling for the second year in a row after two years of growth. Overall, consumption, however, continues to indicate a mild curtailment. Over the period under review, the market hit record highs at $7.8B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

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.

Cold-Rolled Steel Products Price in Canada - 2023. Find the latest marketing data on the IndexBox platform.

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

The average concrete reinforcing bar import price stood at $648 per ton in February 2025, falling by -26.3% against the previous month.

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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 average iron or steel towers import price stood at $4,240 per ton in February 2025, with an increase of 93% against the previous month.

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.

Coal fell to 108.35 USD/T on December 1, 2025, down 1.86% from the previous day. Over the past month, Coal's price has fallen 1.14%, and is down 20.33% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Coal - values, historical data, forecasts and news - updated on December of 2025.

In February 2025, the average stainless steel seamless pipe import price amounted to $10,384 per ton, jumping by 71% against the previous month.

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Steel Manufacturing Market Size 2025-2029

The steel manufacturing market size is valued to increase USD 455.4 billion, at a CAGR of 4.5% from 2024 to 2029. Upsurge in consumption of high-strength steel will drive the steel manufacturing market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 54% growth during the forecast period.
By End-user - Construction segment was valued at USD 793.30 billion in 2023
By Type - Flat segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 35.51 billion
Market Future Opportunities: USD 455.40 billion
CAGR : 4.5%
APAC: Largest market in 2023

Market Summary

The market encompasses the production and distribution of primary steel products, including iron, alloy, and specialty steel. This dynamic industry is driven by several key factors. The upsurge in consumption of high-strength steel, particularly in automotive and construction sectors, is a major growth catalyst. According to the World Steel Association, global steel demand reached 1.8 billion metric tons in 2020, with automotive and construction accounting for approximately 50% of the total consumption. Core technologies, such as electric arc furnaces and continuous casting, are transforming the manufacturing landscape, enabling increased efficiency and productivity. The market also faces challenges, including excess production capacity and growing demand for steel and stainless steel scrap.
Regulations, including environmental and safety standards, continue to evolve, shaping the competitive landscape. In 2021, the European Union's Green Deal aims to make Europe carbon neutral by 2050, potentially impacting the steel industry's production methods and raw material sourcing. Despite these challenges, opportunities abound, particularly in emerging markets and innovative applications. For instance, the increasing adoption of electric vehicles is expected to boost demand for high-strength steel. In 2020, the electric vehicle market share was approximately 3% of global vehicle sales, with projections indicating significant growth in the coming years. As the market continues to unfold, stakeholders must stay informed of these trends and adapt to the evolving landscape.

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

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How is the Steel Manufacturing Market Segmented and what are the key trends of market segmentation?

The steel manufacturing 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.

End-user

  Construction
  Machinery
  Automotive
  Metal products
  Others


Type

  Flat
  Long


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Russia
    UK


  APAC

    China
    India
    Japan


  South America

    Brazil


  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 significant global industry, with the construction sector being its largest consumer in 2024. This sector's growth is driven by the construction of various infrastructure projects such as skyscrapers, tech parks, roads, motorways, and bridges. Steel's popularity in the building industry is due to its exceptional properties, including durability, strength, affordability, and adaptability for prolonged weather exposure. In the manufacturing process, material testing procedures ensure product quality and consistency. Annealing processes refine the steel's microstructure, enhancing its mechanical properties. Robotics in steelmaking streamline production, increasing efficiency and reducing labor costs. Surface treatments protect steel from corrosion and improve its appearance.

Waste management strategies minimize environmental impact, aligning with industry sustainability goals. Stainless steel production represents a growing segment due to its resistance to corrosion and high strength. Heat treatment processes further refine the steel's properties, while inventory management systems optimize production schedules. Basic oxygen furnaces and electric arc furnaces are essential in steel production, with the latter offering increased flexibility and energy efficiency. Defect detection methods employ advanced technologies like digital twin technology and mechanical properties testing to minimize production downtime and improve product quality. Alloy steel production caters to various industries, with process optimization techniques ensuring optimal yield and energy efficiency.

Energy efficiency metrics are crucial in the industry, with galvanizin

Iron Ore rose to 106.94 USD/T on December 1, 2025, up 2.00% from the previous day. Over the past month, Iron Ore's price has risen 1.04%, and is up 1.54% compared to the same time last year, 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 December of 2025.

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.

In February 2025, the average iron or steel bridges import price amounted to $5,995 per ton, growing by 38% against the previous month.

View monthly updates and historical trends for Aluminum Price. Source: World Bank. Track economic data with YCharts analytics.

In December 2022, the rolled steel shape price stood at $2,504 per ton (CIF, US). Over the last eleven-month period, it increased at an average monthly rate of +1.5%. Approximately 7K tons of rolled steel shapes were imported into the United States from Canada, Sweden and India, with Canada ($6.3M) constituting the largest supplier.

Lumber fell to 537 USD/1000 board feet on December 1, 2025, down 1.29% from the previous day. Over the past month, Lumber's price has fallen 1.47%, and is down 9.54% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Lumber - values, historical data, forecasts and news - updated on December of 2025.