Steel Price Trajectory 2024–2026 — Direct Impact on Chinese Crane Prices

Steel is roughly 55–70% of a mobile crane's material cost. When Chinese hot-rolled coil moved from CNY 3,800/tonne in early 2024 to CNY 4,600/tonne by mid-2026, the OEMs had no choice but to reprice — and used-market valuations followed. This article breaks down the pass-through.

Steel prices 2022–2026

The 2024 dip was driven by weak Chinese property demand; the 2025–2026 rebound reflects infrastructure stimulus and export-driven demand.

How much steel is in a crane

Approximate steel content for common models:

• 25T truck crane: ~14 tonnes structural + ~4 tonnes counterweight = 18 tonnes.
• 50T truck crane: ~24 tonnes + 5.5 tonnes counterweight = 30 tonnes.
• 100T truck crane: ~42 tonnes + 19 tonnes counterweight = 61 tonnes.
• 220T all-terrain: ~65 tonnes + 80 tonnes counterweight = 145 tonnes (though counterweight is often not shipped fully-loaded).

Pass-through to new-crane pricing

For a 50T crane at ~30 tonnes of steel × CNY 800 additional cost = CNY 24,000 additional material cost per unit (~AED 12,300). OEMs typically pass through 60–80% of raw-material cost movements, so expect a CNY 15,000–19,000 factory-price bump on a 50T unit for the 2024→2026 steel move alone.

Used-market follow-on

Used-market prices track new-market prices with a 3–6 month lag. When new-crane prices rise, used units retain more value relative to their prior curve. The 2018–2020 cohort has held up especially well — our master pricing chart's UAE Upper prices for that cohort are up 12–18% year-on-year, partly driven by steel-cost inflation feeding into new-unit prices which pull used up.

Outlook to 2027

Chinese steel demand should stay elevated through 2027 due to renewable energy build-out and continued infrastructure. Steel prices likely range-bound at CNY 4,400–4,800/tonne — a slight easing possible if Chinese property construction remains weak, but no return to 2024 lows expected.