Steel rebar futures surged above CNY 3,200 per ton, hitting their strongest level since August last year, supported by robust buying in mainland China as trading resumed after the May Day holiday. Market sentiment was reinforced by a continued drawdown in steel inventories, which have now fallen for seven consecutive weeks, pointing to tightening near-term supply conditions in the physical market. On the macro side, China’s manufacturing PMI remained in expansion territory, while policymakers in Beijing continued efforts to stabilize the real estate sector, supporting the outlook for metals demand. Sentiment was further underpinned by projections from the World Steel Association, which expects global steel demand to rise 0.3% this year to 1.724 billion tons and accelerate 2.2% next year to 1.762 billion tons, signaling a gradual recovery in the industry.

Steel fell to 3,236 CNY/T on May 7, 2026, down 0.09% from the previous day. Over the past month, Steel's price has risen 4.66%, and is up 5.48% 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 May 7 of 2026.

Steel fell to 3,236 CNY/T on May 7, 2026, down 0.09% from the previous day. Over the past month, Steel's price has risen 4.66%, and is up 5.48% 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 3217.83 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 3336.54 in 12 months time.



Price Day Month Year Date
Gold 4,703.72 12.20 0.26% -0.36% 41.84% May/07
Silver 77.80 0.486 0.63% 4.96% 139.88% May/07
Copper 6.14 0.0016 0.03% 6.57% 35.05% May/07
Steel 3,236.00 -3.00 -0.09% 4.66% 5.48% May/07
Lithium 187,500.00 10500 5.93% 17.92% 181.32% May/06
Platinum 2,073.90 11.30 0.55% 0.31% 112.84% May/07
Iron Ore 110.86 2.28 2.10% 2.34% 11.61% May/06


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
3236.00 3239.00 6198.00 1580.00 2009 - 2026 Yuan/MT Daily

News Stream
Steel Rallies to Near 9-Month High
Steel rebar futures surged above CNY 3,200 per ton, hitting their strongest level since August last year, supported by robust buying in mainland China as trading resumed after the May Day holiday. Market sentiment was reinforced by a continued drawdown in steel inventories, which have now fallen for seven consecutive weeks, pointing to tightening near-term supply conditions in the physical market. On the macro side, China’s manufacturing PMI remained in expansion territory, while policymakers in Beijing continued efforts to stabilize the real estate sector, supporting the outlook for metals demand. Sentiment was further underpinned by projections from the World Steel Association, which expects global steel demand to rise 0.3% this year to 1.724 billion tons and accelerate 2.2% next year to 1.762 billion tons, signaling a gradual recovery in the industry.
2026-05-06
Steel Climbs to 8-Month High
Steel rebar futures rose toward CNY 3,200 per ton, reaching their highest levels since August last year, supported by strong seasonal demand and ongoing restocking from end users. Chinese steelmakers have also raised domestic delivery prices across products, reflecting higher input costs linked to the Middle East conflict. Sentiment was further underpinned by projections from the World Steel Association, which expects global steel demand to increase 0.3% this year to 1.724 billion tons and rise 2.2% in the following year to 1.762 billion tons, signaling a gradual recovery in the sector. In addition, worldsteel reported that global crude steel production fell 4.2% to 159.9 million tons in March, with declines recorded across Asia and Oceania, the EU, the Middle East, Russia and other CIS + Ukraine, and South America. There will be no commodities trading in China until May 5 for the Labor Day holiday.
2026-04-27
Steel Rises on Strong Demand Signals
Steel rebar futures traded at around CNY 3,130 per ton, near a three-week high as signs of firm seasonal demand and restocking by end users lifted prices. The strength in demand prompted China Steel Corp., the country’s largest steelmaker, to raise domestic prices for next month by NT$1,000 to NT$1,200 per ton, marking its fifth consecutive monthly increase. The outlook was further supported by projections from the World Steel Association, which expects global steel demand to grow 0.3% this year to 1.724 billion tons and rise 2.2% next year to 1.762 billion tons, pointing to a gradual recovery in the sector. An improving geopolitical backdrop also buoyed sentiment, with reports indicating Washington and Tehran are considering extending their two-week ceasefire to allow more time for negotiations. The conflict has disrupted trade flows, reducing metals shipments to the Gulf, a region that was China’s second-largest steel export destination last year.
2026-04-16