Steel rebar futures held steady around CNY 3,140 per tonne, hovering near seven-week highs after data showed Chinese steel output fell 3.6% to about 160 million tons in the first two months of the year as mills curtailed production to offset weak demand. The period also marks a seasonal slowdown for steelmakers due to the Lunar New Year holiday and pollution controls ahead of annual legislative meetings in March. China’s steel sector has been in structural decline as the country’s economy matures, leading to reduced construction activity, further worsened by the prolonged property crisis. Earlier this month, economic planners at the National People's Congress signaled plans for orderly reductions in steel capacity. Beijing made 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.

Steel rose to 3,148 CNY/T on March 20, 2026, up 0.48% from the previous day. Over the past month, Steel's price has risen 3.79%, but it is still 0.25% 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 6198.00 in May of 2021. Steel - data, forecasts, historical chart - was last updated on March 22 of 2026.

Steel rose to 3,148 CNY/T on March 20, 2026, up 0.48% from the previous day. Over the past month, Steel's price has risen 3.79%, but it is still 0.25% 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 3143.98 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 3005.71 in 12 months time.



Price Day Month Year Date
Gold 4,488.72 -161.79 -3.48% -14.13% 48.45% Mar/20
Silver 67.60 -5.191 -7.13% -23.35% 104.76% Mar/20
Copper 5.34 -0.0905 -1.67% -7.58% 5.22% Mar/20
Steel 3,148.00 15.00 0.48% 3.79% -0.25% Mar/20
Lithium 149,000.00 -3500 -2.30% -1.97% 100.54% Mar/20
Platinum 1,970.50 26.80 1.38% -8.46% 101.75% Mar/20
Iron Ore 105.89 0.25 0.24% 6.67% 3.81% Mar/20


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
3148.00 3133.00 6198.00 1580.00 2009 - 2026 Yuan/MT Daily

News Stream
Steel Holds Steady as China Output Declines
Steel rebar futures held steady around CNY 3,140 per tonne, hovering near seven-week highs after data showed Chinese steel output fell 3.6% to about 160 million tons in the first two months of the year as mills curtailed production to offset weak demand. The period also marks a seasonal slowdown for steelmakers due to the Lunar New Year holiday and pollution controls ahead of annual legislative meetings in March. China’s steel sector has been in structural decline as the country’s economy matures, leading to reduced construction activity, further worsened by the prolonged property crisis. Earlier this month, economic planners at the National People's Congress signaled plans for orderly reductions in steel capacity. Beijing made 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.
2026-03-16
Steel Gains as China Curbs Overcapacity
Steel rebar futures climbed above CNY 3,140 per ton, hitting six-week 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