Shanghai steel futures broke the CNY 5000 per tonne mark, the highest since late October, amid limited supply, rising iron ore and nickel prices, and prospects of a boom in demand. Production in China is likely to be constrained in the first quarter due to factories maintenance, the Lunar New Year holidays, and efforts by the government to limit pollution during the Beijing Winter Olympics. At the same time, prices of steelmaking ingredients nickel and iron ore remain elevated, with possible supply disruptions in top iron ore exporter Australia due to a surge in coronavirus cases. Meanwhile, there are prospects demand in China will increase in the second quarter of the year as the construction and infrastructure sectors pick up and the Chinese authorities adopt stimulus measures to shore up the economy.

Historically, Steel reached an all time high of 6198 in May of 2021. Steel - data, forecasts, historical chart - was last updated on January of 2022.

Steel is expected to trade at 4621.24 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 4307.10 in 12 months time.

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Steel



Price Day Month Year
Gold 1,786.66 -9.85 -0.55% -0.94% -3.22%
Silver 22.35 -0.388 -1.71% -2.00% -17.22%
Copper 4.31 -0.1160 -2.62% -2.39% 21.13%
Steel 5,051.00 315.00 6.65% 10.89% 20.52%
Iron Ore 135.50 0 0% 19.38% -14.24%
Lithium 367,500.00 0 0% 36.87% 488.00%
Platinum 1,004.42 -18.08 -1.77% 3.75% -6.36%


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.
Actual Previous Highest Lowest Dates Unit Frequency
5051.00 4736.00 6198.00 1580.00 2016 - 2022 Yuan/MT Daily