Steel rebar futures rose above CNY 3,080 per ton, approaching one-month highs as China renewed its pledge to support the steel sector by curbing excess capacity. Economic planners at the National People’s Congress signaled plans for orderly reductions in steel capacity, a move that could lift steel prices and improve profit margins. Chinese steel mills continue to face pressure from persistent oversupply amid a prolonged property sector downturn, while steel exports are increasingly constrained by protectionist measures abroad. Beijing issued similar pledges during the 2025 policy meetings, though the outcomes were mixed. The country’s steel output fell below 1 billion tons last year for the first time since 2019, although some analysts questioned the reliability of the official figures. China also set a 2026 GDP growth target of 4.5%–5%, the lowest since the early 1990s, as policymakers grapple with ongoing deflationary pressures and higher US tariffs.

Steel rose to 3,099 CNY/T on March 6, 2026, up 1.04% from the previous day. Over the past month, Steel's price has risen 1.84%, but it is still 4.70% lower 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 March 7 of 2026.

Steel rose to 3,099 CNY/T on March 6, 2026, up 1.04% from the previous day. Over the past month, Steel's price has risen 1.84%, but it is still 4.70% lower 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 3055.54 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 2927.14 in 12 months time.



Price Day Month Year Date
Gold 5,158.89 74.70 1.47% 1.97% 77.18% Mar/06
Silver 84.33 2.061 2.51% 1.16% 159.43% Mar/06
Copper 5.79 0.0390 0.68% -2.86% 23.64% Mar/06
Steel 3,099.00 32.00 1.04% 1.84% -4.70% Mar/06
Lithium 155,250.00 -750 -0.48% 14.58% 106.86% Mar/06
Platinum 2,151.80 22.50 1.06% 1.67% 123.17% Mar/06
Iron Ore 101.91 1.02 1.01% 1.27% 0.61% Mar/06


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
3099.00 3067.00 6198.00 1580.00 2009 - 2026 Yuan/MT Daily

News Stream
Steel Gains as China Curbs Overcapacity
Steel rebar futures rose above CNY 3,080 per ton, approaching one-month highs as China renewed its pledge to support the steel sector by curbing excess capacity. Economic planners at the National People’s Congress signaled plans for orderly reductions in steel capacity, a move that could lift steel prices and improve profit margins. Chinese steel mills continue to face pressure from persistent oversupply amid a prolonged property sector downturn, while steel exports are increasingly constrained by protectionist measures abroad. Beijing issued similar pledges during the 2025 policy meetings, though the outcomes were mixed. The country’s steel output fell below 1 billion tons last year for the first time since 2019, although some analysts questioned the reliability of the official figures. China also set a 2026 GDP growth target of 4.5%–5%, the lowest since the early 1990s, as policymakers grapple with ongoing deflationary pressures and higher US tariffs.
2026-03-06
Steel Holds Steady as China Targets Overcapacity
Steel rebar futures held steady above CNY 3,070 per ton, hovering near one-month highs after China reaffirmed its commitment to curb overcapacity in the steel sector, aiming to strengthen the industry’s overall health. Chinese steel mills remain under pressure from persistent oversupply amid a prolonged property downturn, while steel exports are increasingly constrained by protectionist measures in overseas markets. Beijing issued similar pledges during the 2025 policy meetings, though the results were mixed. The country’s steel output fell below 1 billion tons last year for the first time since 2019, although some analysts questioned the reliability of the official figures. China also set a 2026 GDP growth target of 4.5%–5%, the lowest since the early 1990s, as policymakers contend with ongoing deflationary pressures and higher US tariffs.
2026-03-05
Steel Rises Amid China Output Curbs
Steel rebar futures climbed toward CNY 3,070 per ton, nearing four-week highs as Chinese authorities ordered production cuts across northern steelmaking hubs to curb pollution during the annual sessions of the National People's Congress. Under the so-called “blue skies” directive, mills were instructed to reduce blast furnace output by 30% for one week starting March 4 to limit emissions in Beijing during the high-profile political meetings. Tighter supply has provided short-term support to prices, as reduced output typically improves profitability and margins for steel producers. However, demand in top consumer China remained soft following the Lunar New Year holiday, and analysts expect steel consumption to ease in the first half of the year amid persistent weakness in the property sector and cautious industrial activity.
2026-03-03