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.

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.

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.

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

Over the five years through 2025-26, iron and steel manufacturing revenue is expected to climb at a compound annual rate of 1.9% to £7.7 billion. Heaps of cheap steel on the global market have undercut British prices and caused big trade partners like the EU to institute import quotas. Unable to lower prices because of high labour costs and environmental charges, industry giants like British Steel and Tata Steel have stated a need for government intervention to continue operating. Both companies are also moving away from blast furnace operations to invest in greener electric arc furnaces, marking a complete industry shift. Tata Steel closed its Port Talbot site in September 2024, marking the end of traditional steelmaking in Wales and the switch to its electric arc furnace, which is set to begin operations in 2028. British Steel is also planning to switch to electric arc furnace production. However, talks over support from the British Government remain stalled. Besides this structural transition, the industry has been wracked by volatility in recent years. Metal prices dropped during 2020-21 as the COVID-19 pandemic slashed downstream demand for iron and steel. However, as manufacturing and construction activity started recovering in 2021-22, iron and steel prices soared as production failed to keep up, causing a global undersupply of steel. This massively raised revenue in 2021-22, driving up profitability. Steel prices started to dip again in 2022-23, bringing down iron and steel manufacturers’ revenue. In 2025-26, revenue is set to drop by 8.5% owing to a slump in downstream investment, resulting from the 2024 Autumn Budget denting business confidence. This will coincide with iron and steel prices continuing to stave off. Profit is expected to remain flat as iron ore, carbon and energy prices continue to normalise, reducing manufacturers’ costs. However, higher wage costs and subdued demand for iron and steel keep profitability low, sitting at 1.6% in 2025-26. Over the five years through 2030-31, revenue is forecast to climb at a compound annual rate of 0.6% to £7.9 billion. While UK steel manufacturers no longer face tariffs in the EU, US tariffs and import quotas remain uncertain, causing significant harm. Despite UK quotas, competition from imports will prevail, especially as China’s manufacturing rebounds. Reduced production from British Steel and Tata Steel, as both companies switch to electric arc furnace production, will also hinder revenue growth until 2028-29.

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

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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 value generated from the export of iron and steel in the United Kingdom decreased to **** billion British Pounds compared to the previous year. Nevertheless, the last two years in this industry recorded a significantly higher value than the preceding years.

In 2024, after two years of growth, there was decline in the UK market for welded and cold-formed sections of steel, when its value decreased by -1.6% to $629M. The market value increased at an average annual rate of +2.4% over the period from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Welded and cold-formed steel sections consumption peaked at $705M in 2020; however, from 2021 to 2024, consumption remained at a lower figure.

Metal structure manufacturers have faced a series of hurdles in recent years, as macroeconomic headwinds have dampened demand from key markets, primarily the construction sector. Large-scale commercial construction projects require steel beams, roof trusses and other metal parts, providing sales opportunities for manufacturers. However, soaring interest rates in the three years through 2024-25 resulted in elevated borrowing costs, deterring private investment in commercial construction. Residential construction has also slumped, as high interest rates have elevated mortgage repayments and pushed up house prices. According to the Office for National Statistics, private new housing output fell by 18.5% over the two years through 2024, as lower housing demand deterred investment into new residential spaces. Government support packages have helped minimise the impact on construction output, with the Affordable Homes Programme and Labour’s target to build 1.5 million new homes by 2029 propping up residential construction output, offering metal structure manufacturers some relief. Supply chain disruptions caused by the Russia-Ukraine conflict have driven up raw material costs, particularly steel prices. Despite a strong heritage of domestic steel supply, many metal structure manufacturers have opted to use low-cost steel imports from countries like China and Germany, which boast a competitive advantage in manufacturing output. The Red Sea Crisis and President Trump’s tariff uncertainty have also contributed to volatile material prices and led to uncertainty surrounding trade in the industry. Despite volatile input costs, manufacturers have experienced steady profit growth due to constant demand for renewable energy-efficient projects and essential transport infrastructure projects. These have given demand some stability, with infrastructure projects like the Silvertown Tunnel and Everton FC’s Hill Dickinson Stadium requiring extensive steel frameworks and providing revenue growth for several leading companies in the industry, like Laing O’Rourke and Severfield. Overall, revenue is anticipated to grow at a compound annual rate of 1.8% over the five years through 2025-26, primarily driven by a strong initial post-pandemic recovery. In 2025-26, revenue is set to drop by 1.8% to £10.2 billion, thanks to low business confidence deterring commercial projects. Looking ahead, the industry will continue to be supported by government frameworks, including the ongoing target to build 1.5 million new homes and the 10-Year Infrastructure Strategy. These will provide significant investment into construction markets, with projects like data centres and key infrastructure requiring an extensive amount of metal frameworks. A rebound in residential construction will also support demand, particularly in the modular construction sector. The efficiency and time-saving benefits of using prefabricated builds will ensure this market continues to grow, particularly as the government looks to get back on track with its housebuilding target. Metal structure manufacturers’ revenue is forecast to grow at a compound annual rate of 2.3% over the five years through 2030-31, reaching £11.5 billion.

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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 UK steel market is expected to experience a growth in demand for raw steel and steel semi-finished products over the next decade, resulting in an increase in market volume to 6.3M tons and market value to $12.8B by 2035.

Europe's Iron and Steel Manufacturing industry represents a key backbone of the region's industrial landscape. It's strategically interlinked with various sectors like construction, automotive, machinery and equipment manufacturers. Given steel's versatile applications, the industry's fortunes regularly swing with Europe's broader macroeconomic environment and key drivers, including raw material prices like steel, iron ore and coking coal, alongside construction and motor vehicle manufacturing activity. Profit has dwindled in the face of low steel prices and heightened environmental regulations, which have inflated costs. Over the five years through 2025, revenue is expected to rise at a compound annual rate of 7.5%. However, revenue is projected to tumble by 0.4% in 2025 to €520.6 billion. The industry has faced its share of challenges due to fluctuations in global trade, raw material prices and dented demand from key sectors like construction and motor vehicle manufacturing since 2023. High labour costs and environmental regulations have challenged European steelmakers, with some receiving government support to improve efficiency and decarbonisation efforts, like ArcelorMittal and thyssenkrupp Steel. Over the five years through 2030, revenue is forecast to grow at a compound annual rate of 4.6% to reach €652.4 billion. The industry's outlook appears to be a blend of opportunities and hurdles. Initiatives like Germany's Steel 2030 are pointing towards a green future – necessitating significant production adjustments to incorporate steel scrap and energy-efficient technologies but promising sustainability and potentially new competitive advantages. The projected improvement in Europe's construction sector should translate into a broader and more vibrant demand for iron and steel manufacturers. Anticipated advances in electric vehicles and an anticipated transformation of the European automotive sector will likely alter demand patterns, making it crucial for manufacturers to stay agile and adapt.

Forecast: Value Added of Iron and Steel in the UK 2024 - 2028 Discover more data with ReportLinker!

United Kingdom ExPI: EU: Basic Metals (BM): Basic Iron & Steel & of Ferro Alloys data was reported at 0.000 2005=100 in Oct 2012. This records a decrease from the previous number of 105.500 2005=100 for Sep 2012. United Kingdom ExPI: EU: Basic Metals (BM): Basic Iron & Steel & of Ferro Alloys data is updated monthly, averaging 40.950 2005=100 from Jan 1996 (Median) to Oct 2012, with 202 observations. The data reached an all-time high of 133.400 2005=100 in Apr 2011 and a record low of 0.000 2005=100 in Oct 2012. United Kingdom ExPI: EU: Basic Metals (BM): Basic Iron & Steel & of Ferro Alloys data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.I045: Foreign Trade Price Index: SIC 2007: 2005=100: Export Price Index: EU.

The prices of many construction materials in the United Kingdom kept increasing in 2024, but more moderately than in previous years. There were also several building materials whose prices fell that year. One of the most extreme examples was the price of flexible plastic pipes and fittings, which rose by over ** percent that year. The price of a couple steel products fell by over ** percent that year. In late 2024, copper-based products were among the building materials with the highest price increases in the U.S.

Sandwich Panels of Coated Steel Sheet Market Size Value in the UK, 2021 Discover more data with ReportLinker!

Exports of Iron & Steel in the United Kingdom decreased to 433.11 GBP Million in December from 460.75 GBP Million in November of 2023. This dataset includes a chart with historical data for the United Kingdom Exports of Iron & Steel.

The average hot-rolled free-cutting steel import price stood at $881 per ton in March 2025, with a decrease of -8.3% against the previous month.

The value generated from the export of iron & non-alloy steel bars and rods in the United Kingdom declined to ***** million British Pounds in 2024. In 2024, the value thereby reached its lowest value in recent years.