Steel futures traded around CNY 4,300 a tonne, the lowest since February 2020 as production in China is set to resume after restrictions imposed much of the year while domestic demand for the metal remains weak. China’s steel mills are expected to resume production as some companies completed crude steel output reduction targets. Chinese demand, however, continues to struggle from both the construction industry and carmakers amid ongoing stress in the property market and chip shortages. ArcelorMittal SA, the biggest steelmaker outside China, estimates Chinese demand to contract slightly this year while demand outside China is projected to rise 12-13% as economies continue to recover from the health crisis. In the US, President Joe Biden's Infrastructure Bill includes funds to be spent over eight years for infrastructures such as bridges, ports and roads while the European steel industry’s low-carbon transformation will likely attract large automakers and electronic producers.

Historically, Steel reached an all time high of 6198 in May of 2021. Steel - data, forecasts, historical chart - was last updated on December of 2021.

Steel is expected to trade at 4197.07 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 3916.61 in 12 months time.

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Steel


Price Day Month Year
Gold 1,772.81 2.97 0.17% -1.05% -3.53%
Silver 22.36 0.035 0.16% -5.93% -7.47%
Copper 4.29 -0.0135 -0.31% -0.94% 21.59%
Steel 4,301.00 0 0% -5.14% 1.01%
Iron Ore 99.00 -1.00 -1.00% 5.88% -26.67%
Lithium 200,500.00 0 0% 3.08% 389.02%
Platinum 939.04 1.65 0.18% -8.44% -10.95%


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.