United States's Cold-Rolled Steel Market to See Slight Growth with +0.3% CAGR - News and Statistics - IndexBox

Mar 09, 2025

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IndexBox has just published a new report: U.S. - Flat-Rolled Products Of Iron Or Steel (Not Further Worked Than Cold-Rolled) - Market Analysis, Forecast, Size, Trends and Insights.

Driven by rising demand, the US cold-rolled steel market is projected to experience a slight increase in performance with a CAGR of +0.3% in volume and -1.6% in value from 2024 to 2035. The market volume is expected to reach 12M tons, while market value is projected to reach $19.6B by the end of 2035.

Driven by rising demand for cold-rolled steel products in the United States, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.3% for the period from 2024 to 2035, which is projected to bring the market volume to 12M tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of -1.6% for the period from 2024 to 2035, which is projected to bring the market value to $19.6B (in nominal wholesale prices) by the end of 2035.

In 2024, approx. 12M tons of flat-rolled products of iron or steel (not further worked than cold-rolled) were consumed in the United States; with an increase of 3.3% on the previous year. Over the period under review, consumption, however, showed a relatively flat trend pattern. Over the period under review, consumption hit record highs at 13M tons in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

The size of the cold-rolled steel products market in the United States expanded sharply to $23.4B in 2024, picking up by 7.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, the total consumption indicated noticeable growth from 2013 to 2024: its value increased at an average annual rate of +2.1% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, consumption decreased by -7.6% against 2022 indices. Over the period under review, the market reached the maximum level at $25.3B in 2022; however, from 2023 to 2024, consumption remained at a lower figure.

In 2024, approx. 11M tons of flat-rolled products of iron or steel (not further worked than cold-rolled) were produced in the United States; flattening at the year before. Over the period under review, production, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 17% against the previous year. Cold-rolled steel products production peaked at 12M tons in 2013; however, from 2014 to 2024, production remained at a lower figure.

In value terms, cold-rolled steel products production rose significantly to $22.7B in 2024. In general, the total production indicated a tangible expansion from 2013 to 2024: its value increased at an average annual rate of +2.0% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, production decreased by -5.1% against 2022 indices. The growth pace was the most rapid in 2021 with an increase of 29%. Over the period under review, production attained the peak level at $23.9B in 2022; however, from 2023 to 2024, production stood at a somewhat lower figure.

In 2024, approx. 1.8M tons of flat-rolled products of iron or steel (not further worked than cold-rolled) were imported into the United States; growing by 27% compared with the previous year. Overall, imports enjoyed a moderate expansion. The most prominent rate of growth was recorded in 2014 with an increase of 90% against the previous year. Imports peaked at 2.7M tons in 2017; however, from 2018 to 2024, imports stood at a somewhat lower figure.

In value terms, cold-rolled steel products imports surged to $2.6B in 2024. Over the period under review, imports continue to indicate a tangible expansion. The pace of growth appeared the most rapid in 2021 when imports increased by 128% against the previous year. Over the period under review, imports reached the maximum at $3.8B in 2022; however, from 2023 to 2024, imports stood at a somewhat lower figure.

In 2024, Canada (547K tons) constituted the largest supplier of cold-rolled steel products to the United States, with a 30% share of total imports. Moreover, cold-rolled steel products imports from Canada exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (197K tons), threefold. The third position in this ranking was held by Mexico (148K tons), with an 8.1% share.

From 2013 to 2024, the average annual growth rate of volume from Canada amounted to +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+19.3% per year) and Mexico (-4.5% per year).

In value terms, Canada ($640M) constituted the largest supplier of flat-rolled products of iron or steel (not further worked than cold-rolled) to the United States, comprising 25% of total imports. The second position in the ranking was held by Taiwan (Chinese) ($265M), with a 10% share of total imports. It was followed by Mexico, with an 8.3% share.

From 2013 to 2024, the average annual rate of growth in terms of value from Canada stood at +9.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+13.5% per year) and Mexico (-3.3% per year).

Iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (425K tons), iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (423K tons) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm (386K tons) were the main products of cold-rolled steel products imports to the United States, together accounting for 68% of total imports. Alloy steel, flat-rolled, width 600mm or more, cold-rolled, stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm, stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm, stainless steel, flat-rolled, width less than 600mm, cold-rolled, stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm, stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more but less than 4.75mm, iron or non-alloy steel, flat-rolled, cold-rolled, of a width less than 600mm, containing by weight less than 0.25% of carbon, alloy steel, flat-rolled, width less than 600mm, n.e.s. in heading no. 7226, cold-rolled, iron or non-alloy steel, flat-rolled, hot-rolled, width less than 600mm, other than of item no. 7211.21 and 7211.22, iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more, stainless steel, flat-rolled, width 600mm or more, cold-rolled or cold-reduced, of a thickness of 4.75mm or more, iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm, iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more and iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm lagged somewhat behind, together accounting for a further 32%.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the major product types, was attained by iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (with a CAGR of +21.1%), while imports for the other products experienced more modest paces of growth.

In value terms, flat-rolled products of iron or steel (not further worked than cold-rolled) with the largest imports in the United States were iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm ($415M), iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm ($401M) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm ($386M), with a combined 47% share of total imports. Stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm, stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm, stainless steel, flat-rolled, width less than 600mm, cold-rolled, alloy steel, flat-rolled, width 600mm or more, cold-rolled, stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm, alloy steel, flat-rolled, width less than 600mm, n.e.s. in heading no. 7226, cold-rolled, stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more but less than 4.75mm, iron or non-alloy steel, flat-rolled, hot-rolled, width less than 600mm, other than of item no. 7211.21 and 7211.22, iron or non-alloy steel, flat-rolled, cold-rolled, of a width less than 600mm, containing by weight less than 0.25% of carbon, stainless steel, flat-rolled, width 600mm or more, cold-rolled or cold-reduced, of a thickness of 4.75mm or more, iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more, iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm, iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more and iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm lagged somewhat behind, together accounting for a further 53%.

In terms of the main product categories, iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm, with a CAGR of +23.8%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other products experienced more modest paces of growth.

In 2024, the average cold-rolled steel products import price amounted to $1,420 per ton, reducing by -8% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average import price increased by 62%. Over the period under review, average import prices hit record highs at $1,885 per ton in 2022; however, from 2023 to 2024, import prices stood at a somewhat lower figure.

Prices varied noticeably by the product type; the product with the highest price was stainless steel, flat-rolled, width less than 600mm, cold-rolled ($4,126 per ton), while the price for iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more ($909 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm (+10.8%), while the prices for the other products experienced more modest paces of growth.

The average cold-rolled steel products import price stood at $1,420 per ton in 2024, reducing by -8% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 62%. The import price peaked at $1,885 per ton in 2022; however, from 2023 to 2024, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was China ($3,927 per ton), while the price for Australia ($823 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by China (+13.0%), while the prices for the other major suppliers experienced more modest paces of growth.

In 2024, approx. 1.1M tons of flat-rolled products of iron or steel (not further worked than cold-rolled) were exported from the United States; surging by 12% against 2023 figures. Over the period under review, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of 33% against the previous year. The exports peaked at 1.3M tons in 2017; however, from 2018 to 2024, the exports remained at a lower figure.

In value terms, cold-rolled steel products exports rose markedly to $2.2B in 2024. Overall, total exports indicated a mild increase from 2013 to 2024: its value increased at an average annual rate of +1.8% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports increased by +91.2% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 50% against the previous year. Over the period under review, the exports attained the peak figure in 2024 and are expected to retain growth in years to come.

Mexico (775K tons) was the main destination for cold-rolled steel products exports from the United States, accounting for a 69% share of total exports. Moreover, cold-rolled steel products exports to Mexico exceeded the volume sent to the second major destination, Canada (345K tons), twofold.

From 2013 to 2024, the average annual growth rate of volume to Mexico totaled +3.5%.

In value terms, the largest markets for cold-rolled steel products exported from the United States were Mexico ($1.2B) and Canada ($620M).

Among the main countries of destination, Mexico, with a CAGR of +5.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review.

Iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (282K tons), iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm (264K tons) and alloy steel, flat-rolled, width 600mm or more, cold-rolled (169K tons) were the main products of cold-rolled steel products exports from the United States, together accounting for 64% of total exports. Stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm, iron or non-alloy steel, flat-rolled, cold-rolled, of a width less than 600mm, containing by weight less than 0.25% of carbon, alloy steel, flat-rolled, width less than 600mm, n.e.s. in heading no. 7226, cold-rolled, stainless steel, flat-rolled, width less than 600mm, cold-rolled, iron or non-alloy steel, flat-rolled, hot-rolled, width less than 600mm, other than of item no. 7211.21 and 7211.22, stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm, iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm, stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more but less than 4.75mm, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm, stainless steel, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm, iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm, iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more, stainless steel, flat-rolled, width 600mm or more, cold-rolled or cold-reduced, of a thickness of 4.75mm or more, iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 3mm or more and iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm lagged somewhat behind, together comprising a further 36%.

From 2013 to 2024, the most notable rate of growth in terms of shipments, amongst the major product types, was attained by iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm (with a CAGR of +2.4%), while the other products experienced more modest paces of growth.

In value terms, stainless steel, flat-rolled, width less than 600mm, cold-rolled ($445M), iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness exceeding 1mm but less than 3mm ($313M) and iron or non-alloy steel, in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of 0.5mm or more but not exceeding 1mm ($308M) constituted the most exported types of flat-rolled products of iron or steel (not further worked than cold-rolled) from the United States worldwide, with a combined 49% share of total exports.

Stainless steel, flat-rolled, width less than 600mm, cold-rolled, with a CAGR of +6.6%, recorded the highest growth rate of the value of exports, among the main product categories over the period under review, while shipments for the other products experienced more modest paces of growth.

In 2024, the average cold-rolled steel products export price amounted to $1,922 per ton, reducing by -5.4% against the previous year. Over the last eleven years, it increased at an average annual rate of +2.5%. The pace of growth appeared the most rapid in 2022 an increase of 24%. As a result, the export price attained the peak level of $2,167 per ton. From 2023 to 2024, the average export prices remained at a lower figure.

Prices varied noticeably by the product type; the product with the highest price was stainless steel, flat-rolled, width less than 600mm, cold-rolled ($10,244 per ton), while the average price for exports of iron or non-alloy steel, not in coils, flat-rolled, width 600mm or more, cold-rolled, of a thickness of less than 0.5mm ($691 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for the following types: stainless steel, flat-rolled, width less than 600mm, cold-rolled (+10.1%), while the prices for the other products experienced more modest paces of growth.

The average cold-rolled steel products export price stood at $1,922 per ton in 2024, falling by -5.4% against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +2.5%. The most prominent rate of growth was recorded in 2022 when the average export price increased by 24% against the previous year. As a result, the export price attained the peak level of $2,167 per ton. From 2023 to 2024, the average export prices remained at a lower figure.

Average prices varied noticeably for the major overseas markets. In 2024, amid the top suppliers, the country with the highest price was Canada ($1,799 per ton), while the average price for exports to Mexico totaled $1,536 per ton.

From 2013 to 2024, the most notable rate of growth in terms of prices was recorded for supplies to Mexico (+1.9%).

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the cold-rolled steel products market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

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