Actual
3,038.00
Daily Change
-8.00 -0.26%
Monthly
-1.11%
Yearly
0.30%
Q4 Forecast
3,019.16
Steel - Summary

Steel rebar futures climbed to around CNY 3,040 per ton, rebounding from near three-month lows as improving profit margins, driven largely by lower coke costs, strengthened the market outlook. Traders also expected coke prices to decline further in the coming week, easing pressure on steel mills. However, the World Steel Association recently revised its global steel demand forecast downward, now anticipating a 0.1% contraction this year, compared with its earlier projection of 0.3% growth made in April. The report indicated that China's steel consumption is expected to decline by 2% in 2026 as the downturn in the property sector persists longer than previously expected. In contrast, India continues to stand out as the fastest-growing major steel market, with demand projected to expand by 7.9% in 2026 and a further 8% in 2027.

Steel - Stats

Steel fell to 3,038 CNY/T on November 6, 2026, down 0.26% from the previous day. Over the past month, Steel's price has fallen 1.11%, but it is still 0.30% higher than a year ago, 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 November 6 of 2026.

Steel - Forecast

Steel fell to 3,038 CNY/T on November 6, 2026, down 0.26% from the previous day. Over the past month, Steel's price has fallen 1.11%, but it is still 0.30% higher than a year ago, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Steel is expected to trade at 3019.16 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 2942.74 in 12 months time.



Price Day Month Year Date
Gold 4,069.53 -18.17 -0.44% -1.01% 1.71% Nov/06
Silver 52.01 0.227 0.44% -12.96% 7.23% Nov/06
Copper 6.23 -0.0203 -0.32% -5.58% 26.09% Nov/06
Steel 3,038.00 -8.00 -0.26% -1.11% 0.30% Nov/06
Lithium 93,600.00 1900 2.07% -25.09% 16.42% Nov/06
Platinum 1,526.00 3.60 0.24% -7.50% -0.97% Nov/06
Iron Ore 93.12 1.17 1.27% 2.13% -11.38% Nov/05


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
3038.00 3046.00 6198.00 1580.00 2009 - 2026 Yuan/MT Daily

News Stream
Steel Rebounds from Multi-Month Lows
Steel rebar futures climbed to around CNY 3,040 per ton, rebounding from near three-month lows as improving profit margins, driven largely by lower coke costs, strengthened the market outlook. Traders also expected coke prices to decline further in the coming week, easing pressure on steel mills. However, the World Steel Association recently revised its global steel demand forecast downward, now anticipating a 0.1% contraction this year, compared with its earlier projection of 0.3% growth made in April. The report indicated that China's steel consumption is expected to decline by 2% in 2026 as the downturn in the property sector persists longer than previously expected. In contrast, India continues to stand out as the fastest-growing major steel market, with demand projected to expand by 7.9% in 2026 and a further 8% in 2027.
2026-11-05
Steel Declines to Near Three-Month Low
Steel rebar futures fell toward CNY 3,000 per ton, hitting near three-month lows as weak profit margins, sluggish downstream demand and elevated inventory levels continued to pressure the market. Environmental restrictions across several northern Chinese provinces also weighed on hot metal production, although output is expected to rebound once the restrictions are lifted. Meanwhile, the World Steel Association recently downgraded its global steel demand outlook, projecting a 0.1% contraction this year, reversing its earlier forecast of 0.3% growth made in April. According to the report, Chinese steel consumption is expected to fall by 2% this year as the property sector downturn proves more prolonged than previously anticipated. In contrast, India remains the fastest-growing major steel market, with demand forecast to increase by 7.9% in 2026 and 8% in 2027.
2026-11-03
Steel Pressured by Deteriorating Demand Outlook
Steel rebar futures held below CNY 3,030 per ton, hovering at two-month lows after the World Steel Association revised its outlook, projecting global steel demand to contract by 0.1% this year, compared with its previous forecast of 0.3% growth in April. The industry group cited weakening demand in China and disruptions caused by the Middle East conflict, noting that the anticipated recovery has been slower and more gradual than initially expected. It also lowered its 2027 demand growth forecast to 1.7% from 2.2%. According to the report, steel demand in China is expected to decline by 2% this year as the property downturn persists longer than previously anticipated. Europe’s outlook has also weakened, with the construction recovery proving slower and more uneven. Meanwhile, India remains the fastest-growing major steel market globally, with demand projected to expand by 7.9% in 2026 and 8% in 2027.
2026-10-14