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.

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.

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.

The producer price index for iron and steel metals and metal products in the United States fell between 2018 and 2020. Prices for steel commodities in particular have fluctuated over the 2010s due to uncertain markets and international diplomacy.

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.

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.

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Fabricated Steel Plate (WPU10760102) from Dec 2001 to Feb 2025 about fabrication, steel, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

PPI: IS: ICS: Ferro-Alloys data was reported at 178.700 2020=100 in Feb 2025. This stayed constant from the previous number of 178.700 2020=100 for Jan 2025. PPI: IS: ICS: Ferro-Alloys data is updated monthly, averaging 143.300 2020=100 from Jan 2020 (Median) to Feb 2025, with 62 observations. The data reached an all-time high of 231.700 2020=100 in Sep 2022 and a record low of 95.400 2020=100 in Feb 2021. PPI: IS: ICS: Ferro-Alloys data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.I051: Producer Price Index: 2020=100: Iron & Steel.

Graph and download economic data for Global price of Metal index (PMETAINDEXM) from Jan 1992 to Feb 2025 about World, metals, indexes, and price.

PPI: IS: SP: CFS: Cold Rolled Stainless Steel Sheets data was reported at 150.100 2020=100 in Feb 2025. This records a decrease from the previous number of 150.600 2020=100 for Jan 2025. PPI: IS: SP: CFS: Cold Rolled Stainless Steel Sheets data is updated monthly, averaging 92.300 2020=100 from Jan 2010 (Median) to Feb 2025, with 182 observations. The data reached an all-time high of 162.700 2020=100 in Nov 2022 and a record low of 72.800 2020=100 in Sep 2012. PPI: IS: SP: CFS: Cold Rolled Stainless Steel Sheets data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.I051: Producer Price Index: 2020=100: Iron & Steel.

In 2021, after four years of growth, there was decline in the Cuban iron and steel market, when its value decreased by -4.3% to $X. Over the period under review, consumption, however, showed a remarkable increase. Iron and steel consumption peaked at $X in 2020, and then fell slightly in the following year.

In 2024, the Greek cold-rolled steel products market decreased by -7.6% to $187M, falling for the second year in a row after two years of growth. In general, consumption recorded a strong increase. Cold-rolled steel products consumption peaked at $256M in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

In 2020, after three years of growth, there was significant decline in the global iron and steel wire market, when its value decreased by -X% to $X. Overall, consumption, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2010 with an increase of X% y-o-y. Global consumption peaked at $X in 2019, and then shrank in the following year.

Japan ExPI: JPY Basis: MRP: IS: Steel for Special Purposes data was reported at 173.700 2020=100 in Feb 2025. This records a decrease from the previous number of 178.900 2020=100 for Jan 2025. Japan ExPI: JPY Basis: MRP: IS: Steel for Special Purposes data is updated monthly, averaging 167.800 2020=100 from Jan 2020 (Median) to Feb 2025, with 62 observations. The data reached an all-time high of 193.000 2020=100 in Oct 2022 and a record low of 97.700 2020=100 in Dec 2020. Japan ExPI: JPY Basis: MRP: IS: Steel for Special Purposes data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.I130: Export Price Index: 2020=100: JPY Basis: Metal & Related Products.

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.

In 2024, the global hot-rolled steel products market decreased by -8.6% to $760.6B, falling for the second consecutive year after two years of growth. Overall, consumption posted a temperate increase. Global consumption peaked at $1,046.3B in 2022; however, from 2023 to 2024, consumption failed to regain momentum.

Indonesia Wholesale Price Index: Construction Materials: Commodities: Steel Sheet data was reported at 99.470 2018=100 in Apr 2020. This stayed constant from the previous number of 99.470 2018=100 for Mar 2020. Indonesia Wholesale Price Index: Construction Materials: Commodities: Steel Sheet data is updated monthly, averaging 99.470 2018=100 from Dec 2019 (Median) to Apr 2020, with 5 observations. The data reached an all-time high of 100.000 2018=100 in Jan 2020 and a record low of 99.470 2018=100 in Apr 2020. Indonesia Wholesale Price Index: Construction Materials: Commodities: Steel Sheet data remains active status in CEIC and is reported by Central Bureau of Statistics. The data is categorized under Indonesia Premium Database’s Inflation – Table ID.IB007: Wholesale Price Index: by Sector: Construction Materials.

China Steel Industry: Cost of Sales data was reported at 4,411,446.642 RMB mn in 2020. This records an increase from the previous number of 3,772,196.306 RMB mn for 2019. China Steel Industry: Cost of Sales data is updated yearly, averaging 2,008,071.665 RMB mn from Dec 1995 (Median) to 2020, with 26 observations. The data reached an all-time high of 4,411,446.642 RMB mn in 2020 and a record low of 244,975.000 RMB mn in 1996. China Steel Industry: Cost of Sales data remains active status in CEIC and is reported by National Bureau of Statistics. The data is categorized under China Premium Database’s Metal and Steel Sector – Table CN.WAH: Steel Industry: Financial Data.

Japan ExPI: JPY Basis: MRP: IS: Cold Rolled Elect Steel Hoops&SteelStrips data was reported at 170.800 2020=100 in Feb 2025. This records a decrease from the previous number of 176.300 2020=100 for Jan 2025. Japan ExPI: JPY Basis: MRP: IS: Cold Rolled Elect Steel Hoops&SteelStrips data is updated monthly, averaging 172.100 2020=100 from Jan 2020 (Median) to Feb 2025, with 62 observations. The data reached an all-time high of 197.800 2020=100 in May 2022 and a record low of 96.800 2020=100 in Jun 2020. Japan ExPI: JPY Basis: MRP: IS: Cold Rolled Elect Steel Hoops&SteelStrips data remains active status in CEIC and is reported by Bank of Japan. The data is categorized under Global Database’s Japan – Table JP.I130: Export Price Index: 2020=100: JPY Basis: Metal & Related Products.