Steel rebar futures held below CNY 3,060 per ton, staying close to their lowest levels in eight months as tighter European Union restrictions on steel imports darkened the demand outlook. The European Commission rolled out a revised safeguard mechanism that sharply curbs duty-free steel imports to shield the bloc’s steel industry and improve capacity utilization. Effective July 1, the EU reduced its annual tariff-free import quota by 47% to 18.3 million metric tons and imposed a 50% tariff on imports exceeding the quota across 26 steel product categories. Prices also remained under pressure from sluggish demand in top consumer China, where Zenith Steel lowered its early-July rebar prices, signaling weaker consumption as the prolonged downturn in the property market continued to weigh on construction activity.

Steel fell to 3,053 CNY/T on July 7, 2026, down 0.33% from the previous day. Over the past month, Steel's price has fallen 2.65%, but it is still 0.59% 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 July 7 of 2026.

Steel fell to 3,053 CNY/T on July 7, 2026, down 0.33% from the previous day. Over the past month, Steel's price has fallen 2.65%, but it is still 0.59% 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 3085.65 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 3185.63 in 12 months time.



Price Day Month Year Date
Gold 4,126.10 -38.72 -0.93% -4.42% 24.98% Jul/07
Silver 60.87 -1.170 -1.89% -10.67% 65.64% Jul/07
Copper 6.19 0.0091 0.15% -2.25% 9.60% Jul/07
Steel 3,053.00 -10.00 -0.33% -2.65% 0.59% Jul/07
Lithium 164,500.00 -750 -0.45% 0.46% 161.53% Jul/07
Platinum 1,639.90 -3.20 -0.19% -6.57% 19.88% Jul/07
Iron Ore 98.30 0.05 0.05% -2.72% 3.23% Jul/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
3053.00 3063.00 6198.00 1580.00 2009 - 2026 Yuan/MT Daily

News Stream
Steel Extends Decline Toward 8-Month Low
Steel rebar futures held below CNY 3,060 per ton, staying close to their lowest levels in eight months as tighter European Union restrictions on steel imports darkened the demand outlook. The European Commission rolled out a revised safeguard mechanism that sharply curbs duty-free steel imports to shield the bloc’s steel industry and improve capacity utilization. Effective July 1, the EU reduced its annual tariff-free import quota by 47% to 18.3 million metric tons and imposed a 50% tariff on imports exceeding the quota across 26 steel product categories. Prices also remained under pressure from sluggish demand in top consumer China, where Zenith Steel lowered its early-July rebar prices, signaling weaker consumption as the prolonged downturn in the property market continued to weigh on construction activity.
2026-07-01
Steel Drops to 4-Month Low
Steel rebar futures fell below CNY 3,060 per ton, reaching their lowest level in four months as narrowing profit margins for steel mills and seasonal demand weakness weighed on prices. Industry data showed profitability among Chinese steel mills declined to about 51% in the latest week, down 4.8 percentage points from the previous week and 8.2 percentage points from a year earlier. The margin squeeze followed a fatal coal-mining accident in Shanxi last month, which drove up coke prices and encouraged mills to use more medium-to-high-grade iron ore to improve efficiency. Meanwhile, crude steel production in the world's largest producer continued to weaken amid the prolonged downturn in the property sector, with May output falling 2.7% year-on-year to 84.35 million tons.
2026-06-26
Steel Falls to Over 2-Month Low
Steel rebar futures fell below CNY 3,080 per ton, hitting their lowest level in more than two months as weak economic data from China dampened demand expectations. Crude steel production in the world's largest producer continued to weaken amid a prolonged downturn in the property sector, with May output falling 2.7% year-on-year to 84.35 million tons. Broader economic indicators also pointed to slowing momentum, with fixed-asset investment and consumer spending retreating to levels last seen during the pandemic period. Meanwhile, earlier data showed China's steel exports rose 8.8% in May from the previous month, supported by subdued domestic demand and stronger profit margins for overseas shipments. However, cumulative steel exports in the first five months of the year were still down 8.1% from a year earlier, reflecting rising trade barriers in several major export markets.
2026-06-17