Steel rebar futures fell below CNY 3,060 per ton, sliding to an eight-week low as Chinese steel mills curtailed operations ahead of the extended Lunar New Year holidays. The sector entered a seasonal shutdown, with both blast furnaces and electric-arc furnaces pausing for scheduled maintenance. Heavy air pollution alerts in parts of Hebei may also prompt temporary production curbs. Meanwhile, data from the World Steel Association pointed to a decline in global steel supply in 2025, driven largely by output cuts in China under its anti-involution campaign. China remains the world’s largest steel producer, with output totaling 960.8 Mt. last year, followed by India, the US, Japan, and Russia, which together produced 395.4 Mt.

Steel fell to 3,043 CNY/T on February 9, 2026, down 0.39% from the previous day. Over the past month, Steel's price has fallen 2.81%, and is down 6.63% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Historically, Steel reached an all time high of 6198 in May of 2021. Steel - data, forecasts, historical chart - was last updated on February 9 of 2026.

Steel fell to 3,043 CNY/T on February 9, 2026, down 0.39% from the previous day. Over the past month, Steel's price has fallen 2.81%, and is down 6.63% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Steel is expected to trade at 3034.00 Yuan/MT by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 2912.03 in 12 months time.



Price Day Month Year Date
Gold 5,081.19 112.63 2.27% 10.49% 74.15% Feb/09
Silver 83.99 6.008 7.70% -1.38% 161.97% Feb/09
Copper 5.98 0.0933 1.59% -0.93% 27.83% Feb/09
Steel 3,043.00 -12.00 -0.39% -2.81% -6.63% Feb/09
Lithium 135,500.00 1000 0.74% -10.86% 75.63% Feb/09
Platinum 2,138.30 38.90 1.85% -10.18% 109.06% Feb/09
Iron Ore 100.63 0.52 0.52% -7.04% -5.93% Feb/09


Steel
Steel Rebar is mostly traded on the Shanghai Futures Exchange and London Metal Exchange. The standard future contract is 10 tons. Steel is one of the world’s most important materials used in construction, cars and all sorts of machines and appliances. By far the biggest producer of crude steel is China, followed by European Union, Japan, United States, India, Russia and South Korea. The steel prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. Our steel prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. Trading Economics does not verify any data and disclaims any obligation to do so.
Actual Previous Highest Lowest Dates Unit Frequency
3043.00 3055.00 6198.00 1580.00 2009 - 2026 Yuan/MT Daily

News Stream
Steel Declines to Eight-Week Low
Steel rebar futures fell below CNY 3,060 per ton, sliding to an eight-week low as Chinese steel mills curtailed operations ahead of the extended Lunar New Year holidays. The sector entered a seasonal shutdown, with both blast furnaces and electric-arc furnaces pausing for scheduled maintenance. Heavy air pollution alerts in parts of Hebei may also prompt temporary production curbs. Meanwhile, data from the World Steel Association pointed to a decline in global steel supply in 2025, driven largely by output cuts in China under its anti-involution campaign. China remains the world’s largest steel producer, with output totaling 960.8 Mt. last year, followed by India, the US, Japan, and Russia, which together produced 395.4 Mt.
2026-02-09
Steel Slides to 1-Month Low
Steel rebar futures fell to around CNY 3,070 a ton, hitting a one-month low as Chinese steel mills trimmed production ahead of the Lunar New Year holiday. Several blast furnaces and electric-arc furnaces have paused operations for planned maintenance, weighing on near-term demand. However, industry data showed blast furnace utilization remained above 86%, higher than the previous week, while daily hot metal output rose by 21,000 tons week-on-week. Meanwhile, data from the World Steel Association pointed to a decline in global steel supply in 2025, led by production cuts in China under its anti-involution campaign. China remains the world’s largest steel producer, with output totaling 960.8 Mt. last year, followed by India, the US, Japan, and Russia, which together produced 395.4 Mt. On the demand side, official data showed Chinese construction activity rebounded in December after four consecutive months of contraction.
2026-02-05
Steel Pulls Back from 5-Month High
Steel rebar futures in China fell to CNY 3,100 per tonne after testing five-month highs of CNY 3,160 on January 29th, pressured by the recent decline in industrial metals as markets reconsidered speculative trades. Still, evidence that demand may have bottomed and efforts by Beijing to cap overcapacity maintained contracts above the flatline this year. China reportedly exempted major developers from submitting data that previously aimed to limit their access to leverage. Such a move would increase accessibility of loans and limit short-term liquidity risks for stressed constructors, improving the outlook for rebar-intensive projects. Meanwhile, the latest official data reflected a rebound in Chinese construction activity in December following four periods of contraction. Meanwhile, evidence from the World Steel Organization indicated a drop in global supply in 2025, led by cuts in China amid their anti-involution campaign.
2026-01-30