Actual
3,078.00
Daily Change
3.00 0.10%
Monthly
-1.19%
Yearly
1.38%
Q4 Forecast
3,109.08
Steel - Summary

Steel rebar futures held below CNY 3,080 per ton, hovering near two-month lows after the World Steel Association revised its outlook, projecting global steel demand to contract by 0.1% this year, compared with its previous forecast of 0.3% growth in April. The industry group cited weakening demand in China and disruptions caused by the Middle East conflict, noting that the anticipated recovery has been slower and more gradual than initially expected. It also lowered its 2027 demand growth forecast to 1.7% from 2.2%. According to the report, steel demand in China is expected to decline by 2% this year as the property downturn persists longer than previously anticipated. Europe’s outlook has also weakened, with the construction recovery proving slower and more uneven. Meanwhile, India remains the fastest-growing major steel market globally, with demand projected to expand by 7.9% in 2026 and 8% in 2027.

Steel - Stats

Steel rose to 3,078 CNY/T on October 20, 2026, up 0.10% from the previous day. Over the past month, Steel's price has fallen 1.19%, but it is still 1.38% 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 20 of 2026.

Steel - Forecast

Steel rose to 3,078 CNY/T on October 20, 2026, up 0.10% from the previous day. Over the past month, Steel's price has fallen 1.19%, but it is still 1.38% 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 3109.08 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 3186.61 in 12 months time.



Price Day Month Year Date
Gold 4,152.28 11.38 0.27% -4.39% 0.68% Oct/20
Silver 58.51 1.434 2.51% -11.35% 20.13% Oct/20
Copper 6.61 0.0739 1.13% -1.12% 35.01% Oct/20
Steel 3,078.00 3.00 0.10% -1.19% 1.38% Oct/20
Lithium 102,350.00 -600 -0.58% -23.85% 38.12% Oct/20
Platinum 1,667.10 18.90 1.15% -7.46% 11.50% Oct/20
Iron Ore 90.95 0.05 0.06% -6.73% -13.79% Oct/19


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
3078.00 3075.00 6198.00 1580.00 2009 - 2026 Yuan/MT Daily

News Stream
Steel Pressured by Deteriorating Demand Outlook
Steel rebar futures held below CNY 3,080 per ton, hovering near two-month lows after the World Steel Association revised its outlook, projecting global steel demand to contract by 0.1% this year, compared with its previous forecast of 0.3% growth in April. The industry group cited weakening demand in China and disruptions caused by the Middle East conflict, noting that the anticipated recovery has been slower and more gradual than initially expected. It also lowered its 2027 demand growth forecast to 1.7% from 2.2%. According to the report, steel demand in China is expected to decline by 2% this year as the property downturn persists longer than previously anticipated. Europe’s outlook has also weakened, with the construction recovery proving slower and more uneven. Meanwhile, India remains the fastest-growing major steel market globally, with demand projected to expand by 7.9% in 2026 and 8% in 2027.
2026-10-14
Steel Firms Up on Improving Margins
Steel rebar futures traded near CNY 3,100 per ton, finding support as falling spot coke prices helped reduce steelmakers’ losses, improving the sector’s outlook and potentially easing pressure to cut production. Meanwhile, China intensified efforts to support its economy amid weak consumption and investment, allocating CNY 550 billion ($82 billion) in unused government debt quotas to strengthen local government finances and expand infrastructure spending. However, the steel industry continued to face subdued demand amid a prolonged property market downturn and sluggish construction activity. Recent data showed that only 6.9% of Chinese steelmakers were profitable at the end of September, highlighting persistent challenges across the sector. Steel producers remain under pressure to curb output as shrinking profit margins and uncertain demand continue to weigh on prices.
2026-10-12
Steel Drops to 4-Week Low
Steel rebar futures slipped below CNY 3,090 per ton, reaching their lowest level in four weeks as Chinese markets reopened following a week-long holiday, with the industry continuing to grapple with deteriorating steel margins. Industry data showed that only 6.9% of Chinese steelmakers were profitable by the end of September, while average daily hot metal production declined to a six-month low of 2.34 million tons. Reports also indicated that some Chinese steelmakers had begun or were planning equipment maintenance as mounting losses continued to pressure operations. In addition, China’s steel industry faced persistently weak demand amid a prolonged property downturn and subdued construction activity. Meanwhile, data from the World Steel Association showed that global crude steel production declined 1.2% year-on-year to 144.2 million tons in August.
2026-10-08