Actual
3,109.00
Daily Change
9.00 0.29%
Monthly
-0.48%
Yearly
0.45%
Q4 Forecast
3,108.16
Steel - Summary

Steel rebar futures climbed to around CNY 3,109 per ton, reaching a one-week high after World Steel Association data showed global crude steel production fell 1.2% year-on-year to 144.2 million tons in August. On a monthly basis, global crude steel output also declined 3.3% from the 149.2 million tons produced in July, with China’s 2.3 million-ton month-on-month drop accounting for nearly half of the global decrease. Still, China remains the world’s largest steel producer, representing 51.7% of global output. Meanwhile, the Chinese steel industry continued to face weak demand and deteriorating mill profitability. The prolonged property downturn remained a major drag on rebar consumption, with new construction activity and demand from developers staying subdued. Chinese markets will be closed from October 1 to 7 for the weeklong National Day holiday.

Steel - Stats

Steel rose to 3,109 CNY/T on September 30, 2026, up 0.29% from the previous day. Over the past month, Steel's price has fallen 0.48%, but it is still 0.45% 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 October 1 of 2026.

Steel - Forecast

Steel rose to 3,109 CNY/T on September 30, 2026, up 0.29% from the previous day. Over the past month, Steel's price has fallen 0.48%, but it is still 0.45% 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 3159.51 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 4,165.36 7.56 0.18% -5.07% 8.02% Oct/01
Silver 60.83 0.418 0.69% -6.88% 29.44% Oct/01
Copper 6.51 -0.0484 -0.74% 0.15% 32.63% Oct/01
Steel 3,109.00 9.00 0.29% -0.48% 0.45% Sep/30
Lithium 122,800.00 -600 -0.49% -22.52% 66.96% Sep/30
Platinum 1,724.20 5.30 0.31% -2.29% 9.56% Oct/01
Iron Ore 96.59 -0.14 -0.14% 0.56% -7.14% Sep/30


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
3109.00 3100.00 6198.00 1580.00 2009 - 2026 Yuan/MT Daily

News Stream
Steel Rises Amid Falling Global Output
Steel rebar futures climbed to around CNY 3,109 per ton, reaching a one-week high after World Steel Association data showed global crude steel production fell 1.2% year-on-year to 144.2 million tons in August. On a monthly basis, global crude steel output also declined 3.3% from the 149.2 million tons produced in July, with China’s 2.3 million-ton month-on-month drop accounting for nearly half of the global decrease. Still, China remains the world’s largest steel producer, representing 51.7% of global output. Meanwhile, the Chinese steel industry continued to face weak demand and deteriorating mill profitability. The prolonged property downturn remained a major drag on rebar consumption, with new construction activity and demand from developers staying subdued. Chinese markets will be closed from October 1 to 7 for the weeklong National Day holiday.
2026-10-01
Steel Nears 2-Week Low
Steel rebar futures in China fell below CNY 3,100 per ton, approaching two-week lows as weak demand continued to pressure the market. The prolonged property downturn remained a major drag on rebar consumption, with new construction and developer demand subdued. Chinese home prices fell 3% year-on-year in August, while existing homes accounted for most residential sales this year, reflecting efforts to reduce unsold properties and limiting the need for new construction. Meanwhile, profitability at Chinese steel mills deteriorated again last week, while average daily hot metal production declined, pointing to mounting pressure on producers. The China Iron and Steel Association urged mills to curb production and reduce inventories to protect margins and address excess supply. Data from the World Steel Association showed global crude steel production fell 1.2% year-on-year to 144.2 million tons in August.
2026-09-28
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