Steel fell to 3,112 CNY/T on August 22, 2025, down 0.32% from the previous day. Over the past month, Steel's price has fallen 2.99%, but it is still 3.87% higher 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 August of 2025.

Explore the dynamic factors influencing steel prices per ton, including market demand, geopolitical stability, production costs, and regional developments. Understand how these elements impact global pricing trends and the importance of staying informed in a fluctuating market.

Iron and steel scrap prices in the United States stood at around *** U.S. dollars per metric ton in 2024, down from *** dollars per ton a year earlier. This is the fourth consecutive annual decrease recorded. Steel scrap consumption The majority of domestic steel industry scrap consumption is from manufacturers of raw steel, and steel castings. These raw materials are used to produce steel products that are used for appliances, construction, machinery, and transportation, among other industry uses. Only small amounts of steel scrap were used for the production of ferroalloys, copper precipitation, and the chemical industry. Recycling scrap Recycled iron and steel scrap materials have been essential for the production of new steel and cast iron products. Vehicles are one of the largest sources of old steel scrap used for recycling and nearly 100 percent of cars are recycled for their scrap material. It is expected that the recycling rate for scrap materials from appliances and construction purposes should rise, especially as public interest for recycling grows and profitability increases.

Discover the latest update on US steel wire prices, as they experience a modest decline to $1,830 per ton, and learn about factors influencing the market

HRC Steel fell to 830.05 USD/T on August 22, 2025, down 0.11% from the previous day. Over the past month, HRC Steel's price has fallen 5.25%, but it is still 12.93% higher than a year ago, 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.

China Transaction Price: 36 City Avg: Stainless Steel: 1.0, 304/2B Cold Roll data was reported at 15,228.470 RMB/Ton in Mar 2025. This records a decrease from the previous number of 15,275.970 RMB/Ton for Feb 2025. China Transaction Price: 36 City Avg: Stainless Steel: 1.0, 304/2B Cold Roll data is updated monthly, averaging 17,539.700 RMB/Ton from Apr 2008 (Median) to Mar 2025, with 204 observations. The data reached an all-time high of 33,048.000 RMB/Ton in May 2008 and a record low of 13,029.000 RMB/Ton in Feb 2016. China Transaction Price: 36 City Avg: Stainless Steel: 1.0, 304/2B Cold Roll data remains active status in CEIC and is reported by Price Monitoring Center, NDRC. The data is categorized under China Premium Database’s Price – Table CN.PA: Price Monitoring Center, NDRC: Transaction Price: Production Material: Steel.

China Transaction Price: 36 City Avg: Carbon Steel: 40mm, 45# data was reported at 3,937.800 RMB/Ton in Mar 2025. This records a decrease from the previous number of 3,984.430 RMB/Ton for Feb 2025. China Transaction Price: 36 City Avg: Carbon Steel: 40mm, 45# data is updated monthly, averaging 4,384.670 RMB/Ton from Dec 2011 (Median) to Mar 2025, with 160 observations. The data reached an all-time high of 6,111.880 RMB/Ton in May 2021 and a record low of 2,370.000 RMB/Ton in Dec 2015. China Transaction Price: 36 City Avg: Carbon Steel: 40mm, 45# data remains active status in CEIC and is reported by Price Monitoring Center, NDRC. The data is categorized under China Premium Database’s Price – Table CN.PG: Steel Price.

In 2024, a total of around 1,885 million metric tons of crude steel were produced worldwide. This was almost the same as the previous year's production figure. Steel is an alloy made by combining iron and other elements.

Metal and Steel Price: Chennai: Melting Scrap HMS-I data was reported at 38,910.000 INR/Metric Ton in Apr 2025. This records an increase from the previous number of 38,280.000 INR/Metric Ton for Mar 2025. Metal and Steel Price: Chennai: Melting Scrap HMS-I data is updated monthly, averaging 24,150.000 INR/Metric Ton from Aug 2003 (Median) to Apr 2025, with 252 observations. The data reached an all-time high of 52,120.000 INR/Metric Ton in Apr 2022 and a record low of 10,500.000 INR/Metric Ton in Nov 2003. Metal and Steel Price: Chennai: Melting Scrap HMS-I data remains active status in CEIC and is reported by Joint Plant Committee. The data is categorized under India Premium Database’s Metal and Steel Sector – Table IN.WAC002: Metal and Steel Retail Prices: Chennai: Monthly.

Graph and download economic data for Producer Price Index by Commodity: Metals and Metal Products: Cold Rolled Steel Sheet and Strip (WPU101707) from Jun 1982 to Jul 2025 about steel, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

The price of Forged Stainless Steel Bar in June 2023 was $8,135 per ton (FOB, Germany), marking a 2.4% increase compared to the previous month.

China Steel: Production: Consumption of Purchased Steel data was reported at 4,532.000 Ton th in Nov 2013. This records a decrease from the previous number of 4,740.556 Ton th for Oct 2013. China Steel: Production: Consumption of Purchased Steel data is updated monthly, averaging 1,735.600 Ton th from Jan 2004 (Median) to Nov 2013, with 118 observations. The data reached an all-time high of 5,096.000 Ton th in Sep 2013 and a record low of 38.100 Ton th in Jan 2004. China Steel: Production: Consumption of Purchased Steel data remains active status in CEIC and is reported by China Iron and Steel Association. The data is categorized under Global Database’s China – Table CN.WAD: Steel Production.

In the period of consideration, steel production in the United States fluctuated considerably. In particular, the production level decreased from **** million in 2019 to **** million metric tons in 2020 due to the narrowing down effects of the coronavirus pandemic on the American metal industry. The following year, the manufacturing level rose to **** million metric tons before declining to ** million in 2022. The U.S. steel market Since 2009, annual iron and steel manufacturing in the United States has increased from more than ** billion U.S. dollars in revenue to *** billion U.S. dollars in 2014. Still, the U.S. is among the Top 5 crude steel-producing countries, with a production level between ** and ** million metric tons from 2020 to 2022. One of the largest steel producers in the United States is the North-Carolina-based Nucor Corporation. In the 2022 financial year, the steel producer recorded some **** billion in revenue. In a global comparison of crude steel producers, Nucor was ranked sixteenth in 2022, producing around **** million metric tons of crude steel. Global steel production Over the last several years, the global production of crude steel has experienced consistent growth. Since 2003, annual crude steel production increased from ****** million metric tons to roughly *** billion metric tons in 2022, despite a dip in global demand in 2020 due to the coronavirus pandemic. China was the leading crude steel producer in 2022, holding more than half of the global market compared to other countries and regions. In particular, China Baowu Group, the world's larger steel maker, produced ***** million metric tons in 2022.

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.

Explore the factors influencing the price of steel per ton, including types of steel, global demand and supply dynamics, geopolitical events, and market conditions. Understand how these elements affect industries such as construction and manufacturing.

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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 re

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).

The apparent steel consumption of the United States amounted to ** million metric tons in 2021, approximately ** million metric tons more than the demand for the previous year. In that year, the U.S. produced some ** million metric tons of pig iron.

India Imports Volume: Finished Steel: Year to Date: Non Alloy: Flat: Tin Free Steel data was reported at 47.000 Metric Ton th in Oct 2018. This records an increase from the previous number of 42.000 Metric Ton th for Sep 2018. India Imports Volume: Finished Steel: Year to Date: Non Alloy: Flat: Tin Free Steel data is updated monthly, averaging 28.000 Metric Ton th from Feb 2007 (Median) to Oct 2018, with 141 observations. The data reached an all-time high of 87.000 Metric Ton th in Mar 2015 and a record low of 2.000 Metric Ton th in Apr 2016. India Imports Volume: Finished Steel: Year to Date: Non Alloy: Flat: Tin Free Steel data remains active status in CEIC and is reported by Joint Plant Committee. The data is categorized under Global Database’s India – Table IN.WAD002: Metal and Steel Imports.