Steel rose to 2,962 CNY/T on June 27, 2025, up 0.44% from the previous day. Over the past month, Steel's price has fallen 2.02%, and is down 10.27% compared to the same time last year, 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 June of 2025.

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 197 U.S. dollars per metric ton.

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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

China steel prices continue to level off from mid-May heights off the back of sluggish seasonal demand, declines in domestic manufacturer steel consumption and government pledges to curb “unreasonable” demand, despite tighter climate controls on steel production. Overall, Asia-Pacific steel prices are still set to stay elevated in the medium-term with support from robust infrastructure spending, though concerns loom oversupply capacity expansions in South-East Asia and tightening of fiscal spending in China.

The global Carbon Steel market size reached USD 934.33 Billion in 2021 and is expected to reach USD 1273.26 Billion in 2030 registering a CAGR of 3.4%. Carbon Steel industry report classifies global market by share, trend, growth and based on type, application, and region.

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

The market value of the stainless steel industry in the U.S. is forecast to amount to almost 5.4 billion U.S. dollars in 2022, a year-on-year decrease of around 16 percent. It is expected to continue decreasing, reaching approximately 5.3 billion U.S. dollars by 2027.

HRC Steel fell to 881.98 USD/T on June 27, 2025, down 0.34% from the previous day. Over the past month, HRC Steel's price has risen 5.63%, and is up 30.86% 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.

The price of zinc is forecast to increase to 1.82 U.S. dollars per pound by 2028, from an estimated price of 1.49 U.S. dollars per pound in 2020. Zinc is a base metal with many uses, including used to galvanise other metals. Zinc oxide is used in the manufacturing of products such as batteries, paint, inks, soaps, pharmaceuticals, and more.

In 2024, the African flat-rolled steel products market was finally on the rise to reach $2.3B for the first time since 2021, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.9% from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $2.4B in 2021; however, from 2022 to 2024, consumption stood at a somewhat lower figure.

In 2024, the Indian flat-rolled steel products market increased by 5.1% to $473M for the first time since 2021, thus ending a two-year declining trend. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $526M. From 2015 to 2024, the growth of the market remained at a somewhat lower figure.

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 2024, the Middle Eastern cold-rolled steel products market decreased by -21.1% to $4.5B, falling for the second year in a row after three years of growth. In general, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $6.8B in 2022; however, from 2023 to 2024, consumption stood at a somewhat lower figure.

The Flat Steel Market size was valued at USD 433.83 USD Billion in 2023 and is projected to reach USD 594.35 USD Billion by 2032, exhibiting a CAGR of 4.6 % during the forecast period. Flat steel is one of the most essential markets within the global steel industry and it can be produced in a wide range of products like sheets, strips and plates with high tensile strength and durability. It can be found in sectors like construction, automotive industries and manufacturing. Different types of steel include hot-rolled, cold-rolled and coated, thus each type of steel performs a specific function. Casting technology, such as continuous casting, is integrated into the procedures to increase output because of their efficiency. In this regard, it helps build and modernize critical infrastructure, as well as boosts the progress of the automotive sector. Its merits include dimensional stability, production cost savings, and recycling, which contribute to the process of sustainable industrial practices and keep the country's economy sound. Summarizing, the flat steel market is a vested interest, expressing the ability to recover and adapt optimally in the present industrial arena. Recent developments include: June 2022: Nippon Steel Corporation announced the offering of a 30-year service life warranty program for ZEXEED, the company's high corrosion-resistant coated steel in relation to perforation caused by corrosion in products that satisfy certain requirements. This development will help the company serve its customers efficiently., April 2021: Nippon Steel Corporation (Nippon Steel) announced the launch of its new product, ZAM-EX, highly corrosion-resistant coated steel sheets for the global market. This product development will allow the company to gain competence in the market. , March 2021: ArcelorMittal launched XCarb, an initiative to reduce CO2 emissions during steel manufacturing while focusing on achieving demonstrable progress toward carbon-neutral steel. The company invested in several initiatives to reduce carbon emissions from the blast furnace., October 2020: ArcelorMittal Europe announced a CO2 technology strategy to produce the first green steel solutions for customers. With this initiative, the company aims to deliver its 30% CO2 emissions target by 2030 and achieve net zero by 2050. Also, the company is implementing projects in almost all flat product sites to use gases from different sources for blast furnace injection to reduce CO2 emissions.. Key drivers for this market are: Robust Demand for Flat Steel from the Construction Industry to Drive Market Growth. Potential restraints include: Fluctuation in Steel Prices is Likely to Hamper the Market Proliferation . Notable trends are: Rapid Inclusion of Steel in the Automotive Industry Attributable to its Characteristics to Propel Market Progress.

The market value of the steel industry in the U.S. amounted to around 133 billion U.S. dollars in 2021, and is projected to reach nearly 97 billion in 2022, a year-on-year decrease of around 27.3 percent. It is expected to continue decreasing in the following years, reaching approximately 62 billion U.S. dollars by 2027.

[197+ Pages Report] Global precious metal market size & share to be worth USD 364.89 Billion by 2026 with a growth rate of 8.5% CAGR during the forecast period of 2021-2026.

The size of the Coated Steel Market was valued at USD 22.1 Million in 2023 and is projected to reach USD 33.7 Million by 2032, with an expected CAGR of 3.78% during the forecast period. The market is driven by rising demand from the automotive, construction, and appliance industries. The adoption of coated steel in automotive components provides improved corrosion resistance, strength, and durability, reducing maintenance costs and extending vehicle life. Furthermore, the growing construction industry, particularly in developing regions, is driving demand for coated steel for roofing, siding, and structural applications. Recent developments include: In January 2022, NLMK Group developed a new product steel with an antibacterial coating. The coating protects the metal's surface from hazardous microorganisms and finds its application in medical and other facilities with strict requirements for cleanliness and safety., In November 2021, Wuppermann and Tata Steel partnered to expand their range of hot-rolled high-strength steel for chassis with good corrosion protection., In April 2021, Nippon Steel Corporation (Nippon Steel) introduced ZAM-EX, a highly corrosion-resistant coated steel sheet for global markets.. Key drivers for this market are: Growing Demand from the Electrical and Domestic Appliance Industry, Expanding Construction Industry. Potential restraints include: High Price Volatility of Raw Materials. Notable trends are: Growing Demand from the Construction and Building Components Industries.

The global Steel Wire market size reached USD 98.96 Billion in 2021 and is expected to reach USD 161.32 Billion in 2030 registering a CAGR of 5.5%. Steel Wire industry report classifies global market by share, trend, growth and based on type, form, end-use, and region.

Light Gauge Steel Framing Market Share was valued at USD 34 billion in 2020 and is expected to register a CAGR of 4.9% during the forecast period.