Shanghai steel futures rebounded to above CNY 4700 per tonne, the highest since late October, amid prospects of rising demand especially from the infrastructure sector in China, after the People's Bank of China unexpectedly cut interest rates on its medium-term loans on January 18th and signalled further measures to boost growth. Tight supplies, limited production due to factories maintenance in the first quarter, the Lunar New Year holidays and Beijing Winter Olympics and a surge in steelmaking ingredient nickel prices also supported the steel market.

Historically, Steel reached an all time high of 6198 in May of 2021. Steel - data, forecasts, historical chart - was last updated on January of 2022.

Steel is expected to trade at 4621.24 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 4307.10 in 12 months time.

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Steel



Price Day Month Year
Gold 1,835.78 2.54 0.14% 1.57% -1.04%
Silver 24.16 -0.067 -0.28% 5.74% -4.49%
Copper 4.49 -0.0330 -0.73% 0.42% 23.74%
Steel 4,720.00 -23.00 -0.48% 2.54% 13.30%
Iron Ore 133.00 4.00 3.10% 9.02% -21.53%
Lithium 348,500.00 0 0% 156.25% 156.25%
Platinum 1,032.89 3.69 0.36% 6.43% -5.95%


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
4713.00 4743.00 6198.00 1580.00 2016 - 2022 Yuan/MT Daily