Steel rebar futures fell to around CNY 3,170 per ton, hovering near their lowest levels in three weeks as signs of slowing economic activity in top consumer China weighed on the outlook for steel demand. Data released earlier this week showed that China’s retail sales and industrial production both missed expectations, while fixed asset investment unexpectedly contracted amid the impact of the global energy crisis on businesses and consumers worldwide. Domestic steel consumption in China also remained under pressure from sluggish construction activity, while demand for Chinese steel exports weakened as overseas buyers showed limited appetite for purchases at elevated prices. Meanwhile, Mysteel’s latest monthly industry report indicated that long steel output is likely to increase as improved profit margins encourage domestic steelmakers to ramp up production, potentially creating additional downward pressure later this month as end-user demand softens.

Steel rose to 3,171 CNY/T on May 22, 2026, up 0.19% from the previous day. Over the past month, Steel's price has risen 1.15%, and is up 2.92% 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 May 24 of 2026.

Steel rose to 3,171 CNY/T on May 22, 2026, up 0.19% from the previous day. Over the past month, Steel's price has risen 1.15%, and is up 2.92% 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 3185.46 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 3310.21 in 12 months time.



Price Day Month Year Date
Gold 4,516.75 -26.20 -0.58% -3.86% 34.51% May/22
Silver 75.35 -1.295 -1.69% -0.04% 125.22% May/22
Copper 6.35 0.0880 1.41% 4.33% 31.38% May/22
Steel 3,171.00 6.00 0.19% 1.15% 2.92% May/22
Lithium 178,000.00 -4000 -2.20% 2.89% 182.32% May/22
Platinum 1,931.40 -33.40 -1.70% -5.25% 77.99% May/22
Iron Ore 109.67 -0.12 -0.11% 2.44% 9.88% May/22


Steel
Steel is one of the most important industrial materials globally, widely used in construction, infrastructure, transportation, and manufacturing. Its demand is closely linked to economic growth, industrial production, and investment in fixed assets. Steel products such as rebar are actively traded on exchanges including the Shanghai Futures Exchange and the London Metal Exchange (LME). Standard futures contracts, such as those for steel rebar, typically represent 10 metric tons. On the supply side, China is by far the largest producer of crude steel globally, followed by the European Union, Japan, the United States, India, Russia, and South Korea. Steel prices displayed on Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments and are intended to provide a general market reference only. These prices do not represent official benchmark prices. The data is supplied by a third party and, while efforts are made to ensure its reliability, Trading Economics does not verify the data and makes no representations or warranties.
Actual Previous Highest Lowest Dates Unit Frequency
3171.00 3165.00 6198.00 1580.00 2009 - 2026 Yuan/MT Daily

News Stream
Steel Declines on Demand Worries
Steel rebar futures fell to around CNY 3,170 per ton, hovering near their lowest levels in three weeks as signs of slowing economic activity in top consumer China weighed on the outlook for steel demand. Data released earlier this week showed that China’s retail sales and industrial production both missed expectations, while fixed asset investment unexpectedly contracted amid the impact of the global energy crisis on businesses and consumers worldwide. Domestic steel consumption in China also remained under pressure from sluggish construction activity, while demand for Chinese steel exports weakened as overseas buyers showed limited appetite for purchases at elevated prices. Meanwhile, Mysteel’s latest monthly industry report indicated that long steel output is likely to increase as improved profit margins encourage domestic steelmakers to ramp up production, potentially creating additional downward pressure later this month as end-user demand softens.
2026-05-19
Steel Retreats as Seasonal Slowdown Looms
Steel rebar futures fell below CNY 3,200 per ton, pulling back from nine-month highs as expectations of a seasonal slowdown in demand and softer downstream consumption weighed on the market. Mysteel’s latest monthly industry report indicated that construction steel prices in China are likely to face pressure this month due to weakening supply-demand fundamentals. The report also noted that long steel output is expected to increase as improving profit margins encourage domestic steelmakers to raise production, potentially adding downward pressure later in the month as end-user demand weakens, particularly in southern China during the wet season. Still, stronger-than-expected economic data from China provided some support to sentiment, with exports surging to a record high in April as companies accelerated stockpiling of components amid concerns that the Iran conflict could further raise input costs.
2026-05-13
Steel Climbs Toward 9-Month High
Steel rebar futures climbed toward CNY 3,250 per ton, approaching their highest level since July last year as expectations for stronger demand supported the market. Steel production in China remained stable, while improved profit margins at mills encouraged firmer output and boosted sentiment across the sector. Stronger-than-expected economic data from China also underpinned prices, with exports surging to a record high in April as companies accelerated stockpiling of components from the manufacturing hub amid concerns that the Iran conflict could drive input costs even higher. In addition, China’s consumer inflation exceeded forecasts, while producer prices recorded their strongest increase in nearly four years, pointing to a continued recovery from the deflationary pressures that weighed on the economy in recent months. Still, analysts warned that the approaching seasonal slowdown in steel demand and softer downstream consumption could cap further upside in steel prices.
2026-05-11