Actual
3,107.00
Daily Change
9.00 0.29%
Monthly
1.40%
Yearly
0.98%
Q3 Forecast
3,108.16
Steel - Summary

Steel rebar futures fell toward CNY 3,100 per tonne from the two-week high of CNY 3,130 on September 16th amid lower iron ore prices and downside risks on demand. The property crisis in top steel consumer China continued to prevent significant demand growth for rebar. Housing prices fell 3% annually in August as existing home sales took the majority of home sales in the country on a year-to-date basis, reflecting the government's effort to cap the oversupply of residential properties. The developments limit steel buying from major developers in the country, among the main buyers of rebar in the world. Consistently, the official construction PMI in China fell to a record low of 46.9. Elsewhere, a group of trade finance firms accused trader Radiant World of fraudulent invoices to back receivables, driving ore prices to fall sharply as trade finance liquidity dried.

Steel - Stats

Steel rose to 3,107 CNY/T on September 24, 2026, up 0.29% from the previous day. Over the past month, Steel's price has risen 1.40%, and is up 0.98% 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 September 26 of 2026.

Steel - Forecast

Steel rose to 3,107 CNY/T on September 24, 2026, up 0.29% from the previous day. Over the past month, Steel's price has risen 1.40%, and is up 0.98% 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 3108.16 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 3212.64 in 12 months time.



Price Day Month Year Date
Gold 4,285.00 10.35 0.24% -6.72% 13.70% Sep/25
Silver 64.26 0.436 0.68% -5.63% 39.48% Sep/25
Copper 6.70 -0.0230 -0.34% 1.45% 42.12% Sep/25
Steel 3,107.00 9.00 0.29% 1.40% 0.98% Sep/24
Lithium 133,150.00 -2050 -1.52% -15.19% 80.54% Sep/24
Platinum 1,777.60 25.60 1.46% -3.63% 11.88% Sep/25
Iron Ore 97.06 -0.08 -0.08% 1.55% -7.95% Sep/25


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
3107.00 3098.00 6198.00 1580.00 2009 - 2026 Yuan/MT Daily

News Stream
Steel Declines from 2-Week High
Steel rebar futures fell toward CNY 3,100 per tonne from the two-week high of CNY 3,130 on September 16th amid lower iron ore prices and downside risks on demand. The property crisis in top steel consumer China continued to prevent significant demand growth for rebar. Housing prices fell 3% annually in August as existing home sales took the majority of home sales in the country on a year-to-date basis, reflecting the government's effort to cap the oversupply of residential properties. The developments limit steel buying from major developers in the country, among the main buyers of rebar in the world. Consistently, the official construction PMI in China fell to a record low of 46.9. Elsewhere, a group of trade finance firms accused trader Radiant World of fraudulent invoices to back receivables, driving ore prices to fall sharply as trade finance liquidity dried.
2026-09-22
Steel Firms Up on Output Curb Pledge
Steel rebar futures held above CNY 3,100 per ton, hovering near multi-month highs as several Chinese steelmakers pledged to curb production and reduce steel inventories amid sharply declining margins. The state-backed China Iron and Steel Association, together with 45 major steelmakers including China Baowu Steel Group, urged domestic producers across the industry to firmly implement output controls to bring down elevated inventory levels. Profitability at Chinese steelmakers deteriorated sharply, pressured by high production costs and weak steel demand. As a result, some producers have reduced operations and scheduled maintenance. Recent data also showed that China’s new home prices continued to fall in August, underscoring the persistent drag from the country’s prolonged property downturn.
2026-09-17
Steel Rises Despite Weak Fundamentals
Steel rebar futures rose above CNY 3,130 per ton, hitting two-week high even as weak market fundamentals continued to weigh on the broader market. Elevated coke prices continued to squeeze steelmakers’ profit margins, prompting some producers to scale back operations and undergo maintenance. Industry data showed that steel mill profitability in China fell sharply to 7.79% in the latest week. Chinese steel demand also weakened further in the third quarter amid a continued slowdown in construction activity. Data showed that China’s new home prices extended their declines in August, highlighting the persistent drag from the country’s prolonged property downturn. Meanwhile, China’s leading industry association reportedly urged steelmakers last month to voluntarily reduce output, aiming to lower inventories and restore profitability following a challenging first half.
2026-09-15