Current steel prices: development and forecast (2024)

The current steel price development depends primarily on supply and demand. There are currently no identifiable external factors such as wars or the corona pandemic that could significantly influence the price of steel.

As long as this remains the case, the price should remain in a reasonably stable corridor between the highs and lows of the last 12 months (650 – 1.000 €/kg).

Nevertheless, the global situation harbors the potential for turbulence due to active trouble spots such as the Middle East conflict, the sea route blockade and risks related to China's economy. These factors could quickly lead to price fluctuations. It is therefore essential to closely monitor developments in these areas in order to identify possible effects on the steel market at an early stage.

Stainless steel price development 2024

The Price development of stainless steel depends largely on the prices of the alloying elements Chromium and Nickel .

The most commonly used stainless steel type 1.4301 (also often referred to as V2A or AISI 304) contains approx. 18% chromium and approx. 9% nickel. At currently around €17.000 per ton (1.000kg), nickel is more than ten times more expensive than steel and therefore has at least the same weighted influence. The chrome price is around €3.000 per ton (calculated from the price of ferrochrome with 50% chrome content).

After the Ukraine conflict began in March 2022, there was a sharp increase in nickel prices. This price increase was caused by speculation and caused difficulties for the London commodity exchange LME. The nickel price has now stabilized again. You can find it here current nickel price.

Current prices for stainless steel sheets and profiles

• 1.4301 (AISI 304, V2A) – from €2,59/kg
• 1.4401 (AISI 316, V4A) – from €3,99/kg
• 1.4541 (AISI 321) – from €3,39/kg

In cooperation with a stainless steel importer, we can provide you with attractive conditions for sheets, profiles or pipes in stock. There are ongoing special items at attractive conditions. We also have an extensive network for stainless steel production parts.

Where can I find current steel price information?

In addition to the summary on this page, you will find current steel prices for various types of steel, especially on the London Commodity Exchange LME.

What factors influence steel prices?

Pricing is complex. The influencing factors include energy and raw material prices as well as supply and demand. The production of steel requires some lead time. Blast furnaces and production processes have to be started up and shut down. This takes time and precise planning. Therefore, the market cannot always react quickly enough to a new situation and an oversupply or shortage can arise. This can also lead to speculation. In times of delivery bottlenecks, many companies try to stock up on steel and fill their warehouses. This can drive prices up further.

Are there (serious) forecasts for future steel prices?

Forecasts for steel prices are very difficult because unforeseeable events always occur to which the steel price reacts very sensitively. In the recent past these were the Corona pandemic and the war in Ukraine. A reliable forecast is therefore not possible. An indication of price developments are futures contracts that are traded on the raw materials exchange.

How is the price of structural steel developing?

Structural steel is not a separate type of steel. Structural steel is an umbrella term for unalloyed steels with a carbon content of approximately 0,2-0,5%. Structural steel is used in both construction and mechanical engineering.

In construction, structural steel is used for supporting structures (steel beams, steel profiles, etc.) and for reinforcing concrete. The structural steel prices for reinforcement (reinforcing steel) can even be found on the raw materials exchange under the term “Rebar”. However, these come from foreign sources. The Steel price index also shows the price development of reinforcing steel. You can find the prices of structural steel beams in the article above.

How do you compare different steel price sources?

On the raw materials exchange there are sources for the prices of various types of steel such as hot strip steel or reinforcing steel. However, there is no stock exchange listing for most semi-finished products such as beams or sheets. However, the prices correlate and this means that conclusions about the prices can be drawn from the combination of historical data and stock market prices for other types of steel. However, it is important that only types of steel with a similar composition are compared. For stainless steel, for example, the nickel content is far more important for pricing than the iron content.

Why do steel prices fluctuate in different regions?

Steel prices are relatively hom*ogeneous regionally, but an imbalance in supply and demand or different energy and labor costs can also cause differences. If the differences are too large, they will be compensated for by export trade. In a stable market, the differences are limited to transport costs, tariffs and other trade restrictions.

What impact do steel prices have on the industry?

For many industrial companies, steel is one of the most important production factors. The price of steel therefore directly influences the price of their products. This influences their competitive situation compared to substitute goods. A company that steel halls With a low steel price, it has an advantage over a company that builds halls out of wood. Steel prices also influence the costs of capital goods such as machines or warehouses.

Current manufacturing capacities

The utilization of theSuppliers for steel constructiondecreases continuously. There is currently still a balance between supply and demand. However, the pressure on suppliers is increasing and many are setting aggressive prices in order to utilize production capacity.
For simple projects such as steel construction for resound, lifts or podiums, delivery times are currently 4-8 weeks.

Our suppliers currently still have free capacity! Send us your request!