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Ground Granulated Blast Furnace Slag Prices, Demand and Supply Overview
2025
Base Year
2023-2025
Historical Period
2026-2027
Forecast Period
Market Overview
Ground granulated blast furnace slag prices in Germany, the highest-cost reporting region, rose 6.5% in H1 2026, climbing from USD 0.124/KG in Q1 to USD 0.132/KG by Q2 as recovering construction and cement sector demand and tighter slag availability from lower blast furnace operating rates supported the market. Globally, the average rose from USD 0.0824/KG in Q1 to USD 0.0874/KG in Q2, a 6.1% gain. For H2 2026, a global average of USD 0.088-0.098/KG is expected, with continued firming on infrastructure investment acceleration and growing sustainable construction and low-carbon concrete sector demand.
Ground granulated blast furnace slag, widely referred to as GGBFS or GGBS, is a latent hydraulic binder produced as a by-product of pig iron manufacture in blast furnaces, where molten slag is rapidly quenched with water or steam to produce glassy granules that are subsequently dried and ground to a fine powder. The largest pull comes from supplementary cementitious material applications in concrete production, where GGBFS partially replaces ordinary Portland cement to reduce heat of hydration, improve long-term strength, enhance resistance to sulfate and chloride attack, and significantly reduce the embodied carbon footprint of the concrete mix. Additional demand comes from slag cement production, geopolymer binder formulations, ready-mix and precast concrete manufacturing, infrastructure and marine construction applications, and ground improvement and soil stabilisation treatments. Blast furnace operating rates at integrated steel mills, electricity and grinding costs, cement and construction sector demand, and environmental regulation supporting low-carbon concrete all feed into the price.
Ground Granulated Blast Furnace Slag Price Forecast for 2026
The balance of supply and demand for ground granulated blast furnace slag through H2 2026 leans moderately firm. Slag availability tightened with moderating blast furnace operating rates at integrated steel mills in Europe and North America. Cement and ready-mix concrete sector demand is growing with recovering construction and infrastructure investment activity across key markets.
The main upside risk is a sharp reduction in blast furnace operating rates alongside accelerating green concrete adoption mandates that tighten slag supply relative to demand. The main downside risk is a steel production recovery that significantly increases slag by-product availability and limits the price recovery.
| Region | 2026 Price Range (USD/KG) | Outlook |
| Global Average | 0.088 - 0.098 | Slag tightness and low-carbon concrete demand support |
| United States | 0.092 - 0.102 | Steady cement and infrastructure demand holds firm |
| China | 0.062 - 0.072 | Large blast furnace capacity keeps it the most affordable |
| Germany | 0.128 - 0.138 | Low operating rates and grinding costs keep it expensive |
| India | 0.096 - 0.106 | Growing infrastructure and cement demand holds a firm middle |
For the Quarter Ending June 2026
Ground Granulated Blast Furnace Slag Prices Q2 2026:
- United States: USD 0.107/KG
- China: USD 0.066/KG
- Germany: USD 0.132/KG
- India: USD 0.101/KG
Ground Granulated Blast Furnace Slag Prices in the United States
US ground granulated blast furnace slag prices averaged USD 0.107/KG in Q2 2026, up 5.9% from USD 0.101/KG in Q1 2026. Tighter slag availability from moderating blast furnace rates and recovering infrastructure and ready-mix concrete procurement lifted the market. Low-carbon concrete and green building sector demand maintained consistent buying.
Why did the price of Ground Granulated Blast Furnace Slag change in Q2 2026 in the United States?
Tighter slag availability from moderating blast furnace operating rates lifted the supply-demand balance. Recovering infrastructure and ready-mix concrete procurement drove consistent buying. Green building specifications and embodied carbon reduction mandates supported growing GGBFS substitution demand.
Ground Granulated Blast Furnace Slag Prices in China
Chinese ground granulated blast furnace slag prices averaged USD 0.066/KG in Q2 2026, up 6.5% from USD 0.062/KG in Q1 2026, the lowest among the tracked markets. Spring construction and cement sector demand lifted procurement. Firmer grinding electricity costs raised the production floor despite large blast furnace slag availability.
Why did the price of Ground Granulated Blast Furnace Slag change in Q2 2026 in China?
Spring construction and cement sector procurement lifted buying from domestic GGBFS producers. Firmer grinding electricity costs raised the processing cost floor. Large domestic blast furnace slag availability kept China the most affordable source in the market.
Ground Granulated Blast Furnace Slag Prices in Germany
German ground granulated blast furnace slag prices averaged USD 0.132/KG in Q2 2026, up 6.5% from USD 0.124/KG in Q1 2026, the highest among the tracked markets. Tighter slag availability from reduced blast furnace operating rates and higher grinding electricity costs elevated European production economics. Recovering construction and low-carbon concrete demand maintained consistent buying.
Why did the price of Ground Granulated Blast Furnace Slag change in Q2 2026 in Germany?
Tighter slag availability from reduced European blast furnace operating rates tightened the supply balance. Higher grinding electricity costs elevated European processing economics. Recovering infrastructure construction and green building low-carbon concrete demand maintained consistent procurement.
Ground Granulated Blast Furnace Slag Prices in India
Indian ground granulated blast furnace slag prices averaged USD 0.101/KG in Q2 2026, up 6.3% from USD 0.095/KG in Q1 2026. Growing infrastructure and cement sector demand supported buying. Recovering construction activity and firmer grinding costs raised the production floor through the quarter.
Why did the price of Ground Granulated Blast Furnace Slag change in Q2 2026 in India?
Growing infrastructure construction and cement sector demand lifted procurement from domestic GGBFS producers. Firmer grinding electricity costs raised the processing floor. Expanding green concrete adoption under construction sustainability frameworks supported consistent buying.
For the Quarter Ending March 2026
Ground Granulated Blast Furnace Slag Prices Q1 2026:
- United States: USD 0.101/KG
- China: USD 0.062/KG
- Germany: USD 0.124/KG
- India: USD 0.095/KG
Ground Granulated Blast Furnace Slag Prices in the United States
US prices averaged USD 0.101/KG in Q1 2026, recovering on the quarter. Construction and cement sector restocking and firmer slag availability costs held the production floor near USD 0.101/KG.
Why did the price of Ground Granulated Blast Furnace Slag change in Q1 2026 in the United States?
Construction and cement sector restocking after the Q3 2025 lull maintained buying. Firmer slag grinding costs held the production floor. The market recovered to USD 0.101/KG from the Q3 2025 level.
Ground Granulated Blast Furnace Slag Prices in China
Chinese prices averaged USD 0.062/KG in Q1 2026, recovering on the quarter. Post-Lunar New Year construction and cement restocking and firmer grinding costs held the market near USD 0.062/KG.
Why did the price of Ground Granulated Blast Furnace Slag change in Q1 2026 in China?
Post-Lunar New Year construction and cement restocking lifted buying. Firmer grinding electricity costs held the production floor. The market recovered to USD 0.062/KG from the Q3 2025 level.
Ground Granulated Blast Furnace Slag Prices in Germany
German prices averaged USD 0.124/KG in Q1 2026, recovering on the quarter. Construction and infrastructure demand and firm slag availability and grinding costs held the production floor near USD 0.124/KG.
Why did the price of Ground Granulated Blast Furnace Slag change in Q1 2026 in Germany?
Construction and infrastructure demand maintained buying. Firm slag grinding and energy costs held the elevated production floor. The market recovered to USD 0.124/KG from the Q3 2025 level.
Ground Granulated Blast Furnace Slag Prices in India
Indian prices averaged USD 0.095/KG in Q1 2026, recovering on the quarter. Growing infrastructure and cement demand and firmer grinding costs supported the market near USD 0.095/KG.
Why did the price of Ground Granulated Blast Furnace Slag change in Q1 2026 in India?
Growing infrastructure construction and cement demand maintained buying. Firmer slag grinding electricity costs raised the production floor. The market recovered to USD 0.095/KG from the Q3 2025 level.
Quarterly Ground Granulated Blast Furnace Slag Price Trends
Global ground granulated blast furnace slag prices dipped briefly in Q3 2025 on surplus slag availability before recovering steadily through Q4 2025, Q1 2026, and Q2 2026. The average eased from USD 0.0800/KG in Q2 2025 to USD 0.0792/KG in Q3, then firmed to USD 0.0808/KG in Q4, USD 0.0824/KG in Q1 2026, and USD 0.0874/KG in Q2 2026, a net gain of about 9.3% over the window. Blast furnace operating rate cycles and construction and cement sector demand drove the consistent recovery.
| Quarter | Price (USD/KG) | QoQ Change | Direction |
| Q2 2026 | 0.0874 | +6.1% | ↑ Rising |
| Q1 2026 | 0.0824 | +2.0% | ↑ Rising |
| Q4 2025 | 0.0808 | +2.0% | ↑ Rising |
| Q3 2025 | 0.0792 | -1.0% | ↓ Falling |
| Q2 2025 | 0.0800 | - | - Stable |
| Q3 2026 | In Progress | - | - In Progress |
What was Ground Granulated Blast Furnace Slag Price in 2025?
Ground granulated blast furnace slag prices followed a broadly firming path through 2025 with a brief Q3 seasonal softening. The global average opened at USD 0.0782/KG in Q1 2025 and closed near USD 0.0808/KG in Q4, a full-year gain of about 3.3%. Growing low-carbon concrete adoption, recovering construction activity, and moderating blast furnace slag availability supported the H2 recovery.
Ground Granulated Blast Furnace Slag Prices in the United States in 2025
US prices firmed from about USD 0.095/KG in Q1 2025 to USD 0.096/KG by Q4, a gain of 1.1%. Consistent cement and construction demand and low-carbon concrete adoption supported the modest upward trend.
Ground Granulated Blast Furnace Slag Prices in China in 2025
Chinese prices firmed from roughly USD 0.058/KG in Q1 2025 to USD 0.060/KG by Q4, a gain of 3.4%. Growing domestic construction and cement demand and tighter slag grinding economics drove the firming. China held the lowest price level throughout the year.
Ground Granulated Blast Furnace Slag Prices in Germany in 2025
German prices firmed from about USD 0.115/KG in Q1 2025 to USD 0.118/KG by Q4, a gain of 2.6%. Recovering construction demand and lower blast furnace operating rates tightened slag availability, supporting firming throughout the year.
Ground Granulated Blast Furnace Slag Prices in India in 2025
Indian prices firmed from roughly USD 0.088/KG in Q1 2025 to USD 0.090/KG by Q4, a gain of 2.3%. Growing infrastructure investment and cement sector demand drove the consistent firming through the year.
How We Can Help
Expert Market Research: Your Source for Real-Time Ground Granulated Blast Furnace Slag Price Intelligence
Expert Market Research tracks ground granulated blast furnace slag prices continuously across every major producing and consuming region. The team traces causation through blast furnace operating rate cycles, slag grinding electricity costs, and cement and construction sector demand dynamics. Contact Expert Market Research today for GGBFS pricing data, bespoke market analysis, and strategic procurement advisory.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Key Questions Answered in the Report
Supplementary cementitious material applications in concrete production take the largest share, replacing ordinary Portland cement to reduce heat of hydration, improve long-term strength, and lower embodied carbon. Slag cement, geopolymer binders, marine and infrastructure concrete, and ground improvement treatments also consume significant volumes.
The Q2 2026 average was USD 0.107/KG in the United States, USD 0.066/KG in China, USD 0.132/KG in Germany, and USD 0.101/KG in India. Germany remains the highest-priced market.
The global average rose from USD 0.0824/KG in Q1 to about USD 0.0874/KG in Q2, a gain of around 6.1%. Tighter slag availability from moderating blast furnace rates and recovering construction demand drove the H1 firming.
Higher blast furnace operating rates at integrated steel mills increased slag by-product availability relative to cement sector demand. Seasonal moderation in ready-mix concrete procurement reduced buying before the Q4 2025 construction recovery.
The global average is expected in the USD 0.088 to 0.098/KG range for H2 2026, with continued firming as slag availability stays tighter and low-carbon concrete adoption expands demand.
Germany sits highest on slag grinding electricity and processing costs, the United States and India hold a firm middle on construction and cement demand, and China prices lowest on large blast furnace slag availability.
This report is updated monthly. For real-time pricing intelligence, contact the Expert Market Research team directly.
Prices respond mainly to blast furnace operating rates at integrated steel mills, grinding electricity costs, construction and cement sector demand, and low-carbon concrete adoption mandates. Steel production cycles and green building regulatory timelines are key signals.
Asia Pacific leads with China holding the largest blast furnace and slag grinding capacity, followed by Europe and North America. Any steel production rate change ripples across GGBFS supply within one to two quarters.
Buyers can use quarterly trends and forecasts to time cement replacement and concrete formulation contracts, build cover when slag availability signals tightening, and monitor blast furnace operating rate announcements as the primary supply signal.
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