Steel rebar futures rose to above CNY 3,900 in September, rebounding from the one-month low of 3,800 from earlier in the month as investors continued to weigh on a drop in output against concerns of lower demand for industrial and construction inputs. Record-setting heatwaves in top consumer China led to thin power rationing among factories, including blast furnaces, and drove steel output to contract sharply. In Europe, soaring energy prices and low demand caused manufacturers and welders to shut down factories across multiple countries to trigger an existential crisis. Still, prices remain strongly pressured by low demand. The NBS manufacturing PMI contracted for a second consecutive month in August, while the broader Caixin gauge marked an unexpected contraction. On top of that, new Covid outbreaks in Guangzhou and Shenzhen led governments to enforce lockdowns for millions, adding to concerns of lower economic activity.

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

Steel is expected to trade at 3711.95 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 3468.18 in 12 months time.

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Steel



Price Day Month Year
Gold 1,717.68 10.41 0.61% -4.15% -3.90%
Silver 18.67 0.101 0.54% -9.22% -21.28%
Copper 3.58 0.0397 1.12% -2.18% -19.61%
Steel 3,918.00 0 0% -4.28% -30.09%
Iron Ore 101.50 3.00 3.05% -8.97% -21.62%
Lithium 495,500.00 0 0% 3.99% 256.47%
Platinum 878.38 -0.92 -0.10% -6.72% -8.07%


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
3918.00 3918.00 6198.00 1580.00 2016 - 2022 Yuan/MT Daily