Steel fell to 3,188 CNY/T on July 31, 2025, down 1.24% from the previous day. Over the past month, Steel's price has risen 5.21%, and is up 6.27% 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 August 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 *** 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.

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

HRC Steel rose to 847.04 USD/T on August 1, 2025, up 0.84% from the previous day. Over the past month, HRC Steel's price has fallen 4.29%, but it is still 24.38% 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.

This statistic represents the projected change in global steel prices from the first quarter of 2012 to the fourth quarter of 2013. In the first quarter of 2012, global steel prices were down *** percent.

View LSEG's World Steel Association data to gain a comprehensive overview of steel industry activities and global steel trade flows.

In the fourth quarter of 2023, the price of the flat steel in the USA reached 3479 USD/MT by December. Similarly, in China, the flat steel prices hit 1858 USD/MT in the same month. The Germany also saw flat steel prices reaching 3125 USD/MT during Q4 2023.

Explore IMARC’s newly published report, titled “Flat Steel Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data,” offers an in-depth analysis of flat steel pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

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).

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 *** U.S. dollars per metric ton.

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.

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 Jun 2025 about steel, metals, commodities, PPI, inflation, price index, indexes, price, and USA.

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Carbon Steel Market Size 2025-2029

The carbon steel market size is forecast to increase by USD 197.5 billion, at a CAGR of 3.3% between 2024 and 2029.

The market is experiencing significant growth, driven primarily by the expanding construction industry. This sector's increasing demand for durable and cost-effective steel solutions is fueling market expansion. Additionally, there is a rising trend towards sustainable manufacturing practices, as companies seek to reduce their environmental footprint and improve their social responsibility. However, the market faces challenges due to the volatility of raw material prices, which can significantly impact production costs and profitability. Environmental conditions necessitate the use of anti-corrosion coatings, further bolstering market demand.
As such, market participants must navigate this price instability while continuing to meet customer demands and maintain competitive pricing. Companies that successfully manage these dynamics and innovate to meet evolving customer needs will be well-positioned to capitalize on the market's growth opportunities. From the hot rolling process to the final product, every stage of carbon steel production is meticulously controlled to ensure the highest quality and performance. Volatile prices of raw materials, such as iron ore and coal, pose a significant threat to market growth.

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

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The market continues to evolve, driven by advancements in steel manufacturing processes and the diverse applications of this versatile material across various sectors. The hot rolling process and continuous casting technique have revolutionized steel production, enabling the mass production of high strength steel with superior mechanical properties. For instance, the adoption of high strength steel in the automotive industry has led to a significant increase in fuel efficiency and reduced emissions. The steel manufacturing process undergoes rigorous testing to ensure adherence to material specification standards.

Impact toughness testing, surface hardness testing, and corrosion resistance rating assessment are essential to evaluate the steel's performance under various conditions. Carbon steel alloying, annealing temperature control, and heat treatment processes like quenching and tempering are crucial in optimizing the steel's mechanical properties. Non-destructive testing methods, such as ultrasonic testing and X-ray inspection, are employed to ensure product quality and reliability. The electric arc furnace and basic oxygen furnace are integral to the steelmaking process, reducing iron ore to molten steel. Steel microstructure analysis and chemical composition analysis are essential in understanding the steel's behavior during manufacturing and its final properties.

The market is a dynamic and ever-evolving industry, driven by advancements in steel manufacturing processes and the diverse applications of this versatile material.

How is this Carbon Steel Industry segmented?

The carbon steel 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
  Shipbuilding
  Automotive
  Transportation
  Others


Type

  Low carbon steel
  Medium carbon steel
  High carbon steel


Form Factor

  Flat products
  Long products
  Tubular products


Geography

  North America

    US


  Europe

    France
    Germany
    Italy
    UK


  APAC

    Australia
    China
    India
    Japan
    South Korea


  Rest of World (ROW)

By End-user Insights

The Construction segment is estimated to witness significant growth during the forecast period. Carbon steel, a key component in various industries, undergoes a intricate manufacturing process that includes hot rolling, steel manufacturing, and alloying with elements like manganese and silicon for high strength steel. Post-production, processes such as galvanizing, impact toughness testing, and surface hardness testing ensure the steel meets specifications. The steel industry's growth is driven by construction, which accounted for the largest market share in 2024, with a steady expansion of residential and commercial buildings globally. High-rise structures, tech parks, and infrastructure projects necessitate carbon steel's use due to its superior mechanical properties, including yield strength and tensile strength. Carbon steel tubes have gained significant traction in Europe due to the increasing demand from various end-user industries, including oil and gas, power generation, and infrastru

The global steel market size attained a volume of around 1738.39 MMT in 2024. The market is projected to grow at a CAGR of 2.24% between 2025 and 2034 to reach a volume of nearly 2169.48 MMT by 2034. The growing demand in the steel market is due to the increasing infrastructure investments and expanding sectors including automotive and construction. Rising urbanization needs and an increasing need for durable materials in urban development projects have motivated the growth to a great extent. Since the automotive industry requires high-quality steel products to manufacture vehicles, it plays a significant role in steady growth. Steel usage for the production of components that are quantitatively effective is expected to be driven by the renewable energy sectors, particularly the wind and solar energy industries. The steel sector is set to grow as global infrastructure investment rises, with a particular emphasis on developing high-performance materials in line with environmental pledges.

Explore the factors influencing recent fluctuations in steel prices, including global supply and demand dynamics, raw material costs, geopolitical events, and energy expenses. Understand how major producers like China impact the market and the effects of post-pandemic recovery on price volatility.

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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

The global steel market, valued at approximately $908.68 billion in 2025, is projected to experience steady growth, exhibiting a compound annual growth rate (CAGR) of 2.8% from 2025 to 2033. This growth is fueled by several key drivers. Increased infrastructure development, particularly in emerging economies, necessitates substantial steel consumption for construction projects like bridges, buildings, and transportation networks. The burgeoning automotive industry, with its continuous demand for high-strength steel in vehicle manufacturing, further bolsters market expansion. Furthermore, the renewable energy sector's reliance on steel for wind turbine construction and solar panel infrastructure contributes significantly to market demand. However, fluctuations in raw material prices, particularly iron ore and coking coal, represent a significant challenge. Environmental regulations aimed at reducing carbon emissions from steel production also present restraints, potentially impacting production costs and profitability. While the market faces these challenges, technological advancements in steel production, such as the adoption of more efficient and environmentally friendly processes, are mitigating some of these concerns. The market is segmented by various steel types (e.g., carbon steel, stainless steel, alloy steel), application areas (e.g., construction, automotive, energy), and geographical regions. Major players like ArcelorMittal, Nippon Steel, and Baowu Steel Group dominate the market landscape, engaging in intense competition through technological innovation, cost optimization, and strategic acquisitions. The forecast period anticipates a steady rise in market size, driven by consistent global infrastructure investment and continued industrialization in developing nations. The competitive landscape is characterized by both large multinational corporations and regional players. The leading companies are constantly seeking to optimize production efficiency, diversify their product portfolio to cater to specific industry demands, and expand their geographic reach. Strategic mergers and acquisitions are prevalent, reflecting the consolidation trend within the industry. The global nature of the market necessitates navigating varying regulatory landscapes and economic conditions across different regions. Effective supply chain management, and technological advancements are crucial for companies to maintain competitiveness and profitability in the long term. Maintaining a sustainable approach to production, minimizing environmental impact, and adapting to shifting global economic conditions will be critical factors in determining success in this dynamic market.

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 ** 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 **** percent in fiscal year 2024.

Metal and Steel Price: Delhi: Cold Rolled Coils 1.00 mm data was reported at 67,850.000 INR/Metric Ton in Apr 2025. This records an increase from the previous number of 66,080.000 INR/Metric Ton for Mar 2025. Metal and Steel Price: Delhi: Cold Rolled Coils 1.00 mm data is updated monthly, averaging 48,690.000 INR/Metric Ton from Aug 2003 (Median) to Apr 2025, with 257 observations. The data reached an all-time high of 94,990.000 INR/Metric Ton in Apr 2022 and a record low of 24,300.000 INR/Metric Ton in Oct 2003. Metal and Steel Price: Delhi: Cold Rolled Coils 1.00 mm 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.WAC008: Metal and Steel Retail Prices: New Delhi: Monthly.

Global crude steel production is expected to reach almost 2 billion metric tons by 2022. Apart from being produced by raw materials, steel may be recycled and many countries import scraps in order to do so. Over 60 percent of the worlds scrap steel becomes recycled.

Stagnation in the steel market The economic slowdown due to the Covid-19 pandemic is expected to impact the market in unprecedented ways in 2020 due in part to a sharp reduction in capital investments. Estimates of global steel production indicate a contraction for the first time in five years, and demand will also likely slump by close to five percent that same year. 2021 and 2022 projections showcase a quick steel market recovery dependent on the outcomes of the 2020 health crisis. Steel is one of the most commonly used metals across the globe. This is due to its key role in civil engineering construction and major appliances fabrication, which utilize the alloy’s strength and durability. Steel also plays an important role in discrete manufacturing - from surgical instruments to wristwatches. China leads the global steel market Worldwide production has increased incredibly over the last decade, and this has a lot to do with China’s immense productivity. This country produces roughly half of the world’s crude steel and is a net exporter of crude steel. Capacity additions may lead to increased production of steel; however, global steel demand is expected to dip by 2.4 percent in 2020 and increase by 4.1 percent the following year. China will remain the leading market for finished steel products. China is projected to be a stagnant market Production and consumption in China is expected to stagnate in 2020. Concurrently, steel manufacturers in the United States have been picking up serious pace. Following the 25 percent tariffs on steel imported from certain countries, the cost of steel in the United States had immediately risen, and domestic production became more profitable. The largest steel producer in the United States, Nucor, saw its sales decrease from 25.1 billion U.S. dollars to nearly 22.6 billion between 2018 and 2019.

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).