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Global steel markets in 2025 remained resilient, driven by strong demand from Oil & Gas, petrochemical, and chemical industries. Equipment manufacturers producing heat exchangers, pressure vessels, columns, and skid-mounted systems faced raw material pressures while balancing project timelines.
Steel Price Performance: Jan–Dec 2025
| Product | 02 Jan 2025 (USD/t) | 12 Dec 2025 (USD/t) | Change (USD/t) | Change (%) |
| Hot-Rolled Coil | 780 | 845 | +65 | +8% |
| Stainless Steel Plate | 2,250 | 2,430 | +180 | +8% |
| Alloy Steel (P22/P91) | 3,200 | 3,420 | +220 | +6.9% |
Note: Prices are indicative averages for 2025, sourced from LME, Metal Bulletin, and Fastmarkets MB.
1. Heat Exchangers
Stainless and alloy steel price increases affected shell and tube bundles by 7–9%.
Copper-nickel alloys remained stable, but shell and structural steel costs followed market trends.
2. Pressure Vessels & Columns
Nickel and alloy steel costs influenced reactors, separators, and distillation columns.
High-temperature and corrosive service equipment saw 5–8% cost increases.
3. Skid-Mounted Units
Structural steel for frames and piping supports experienced moderate cost growth, affecting modular skid systems.
Clad plates, combining a corrosion-resistant alloy layer with a carbon or low-alloy steel base, offer multiple advantages for industrial equipment such as heat exchangers, pressure vessels, columns, and skids:
Cost Efficiency: Only the exposed surface requires expensive alloy, reducing overall material costs.
Corrosion and Wear Resistance: Protects equipment in sour service or high-temperature environments.
Mechanical Strength: Base steel ensures structural integrity and fatigue resistance.
Fabrication Flexibility: Can be cut, rolled, and welded like conventional steel, reducing lead time.
Optimized Project Economics: Balances cost and performance for large-scale industrial projects.
In 2025, steel markets remained robust, driven by Oil & Gas, petrochemical, and chemical projects. Heat exchangers, pressure vessels, columns, and skid-mounted units are particularly sensitive to raw material prices. Using clad plates can optimize costs while ensuring corrosion resistance and mechanical integrity. Manufacturers and procurement teams should plan strategically to manage material cost volatility and maintain project schedules.
Nanjing Fugo New Material Tech Co., Ltd. (Fugo Tech) is an ISO 9001 and PED 2014/68/EU certified manufacturer specializing in Clad Material (Explosive Clad Plates & Rolled Clad Plates/Clad Dish Heads/Clad Tube Sheets) and Titanium, Nickel Alloy, Copper Alloy and Stainless Steel products (Pipe/Tube/Fitting/Flange/Forging) which are widely used in the Heat Exchanger, Pressure Vessel, Reactor, Column, Tower, and other process equipment.
Fugo Tech offers different material combinations of Clad Plate (Explosion-welded clad plate/composite plate & Rolled-welded clad plate/composite plate) , and also offers a wide range of materials, including Titanium, Nickel Alloy, Copper, Cu-Ni, and Stainless Steel, along with custom processing services (Tube Sheet drilling, and Dish Head forming) for Oil & Gas, Petrochemical, Chemical, Energy, Paper & Pulp, Marine, Shipbuilding, Environment, Metallurgy, and New Energy Vehicles, with a strong focus on high-performance Clad Plate & Titanium & Nickel Alloy & Stainless Steel solutions.
For any new requirement, please contact: sales@fugo-tech.com
Fugo Tech is focused on the manufacturing of clad metal plate and distributes the Stainless Steel, Titanium, Nickel Alloy, Zirconium and other non-ferrous metal pipes, fittings, flanges, and fasteners.
