Shanghai steel futures extended gains to trade close to 4,900 yuan a tonne in June, amid supply concerns and despite China’s efforts to limit rising commodity prices against production curbs based on carbon emissions, pollutant discharges and energy consumption. China portside iron ore inventory hit 4-month low in the first week of June and shipment arrivals were lower than the prior-week, amid COVID-19 breakouts around China’s southern ports and lower exports from Rio Tinto. Iron ore is the raw material used to produce steel and China is the top steel producer and consumer. Steel prices rallied to an all-time high of 5,975 yuan per tonne on May 11th, buoyed by rising iron ore cost and as China’s steel capital Tangshan instructed most mills to cut production by 30%-50% until the end of the year to reduce carbon emissions.

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

Steel is expected to trade at 4535.24 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 3708.31 in 12 months time.

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Steel


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.
Energy Price Day Weekly Monthly YTD Date
Crude Oil
USD/Bbl
71.0900 0.22 0.31% 1.48% 7.27% 46.52% Jun/15
Brent
USD/Bbl
73.1200 0.26 0.36% 1.25% 5.27% 41.16% Jun/15
Natural gas
USD/MMBtu
3.3460 0.01 -0.18% 6.97% 7.62% 31.78% Jun/15
Gasoline
USD/Gal
2.1753 0.00 0.19% -1.97% 0.79% 54.27% Jun/15
Heating oil
USD/Gal
2.1109 0.00 -0.03% -1.13% 2.45% 42.24% Jun/15
Ethanol
USD/Gal
2.4600 0.00 0.00% 0.00% 5.13% 71.67% Jun/14
Naphtha
USD/T
619.19 0.26 -0.04% 0.08% 4.43% 43.10% Jun/14
Propane
USD/Gal
0.94 0.00 -0.39% 2.48% 14.90% 45.25% Jun/14
Uranium
USD/Lbs
32.5000 0.20 -0.61% 0.46% 5.01% 5.86% Jun/14

Metals Price Day Weekly Monthly YTD Date
Gold
USD/t.oz
1,863.21 2.79 -0.15% -1.56% -0.16% -1.75% Jun/15
Silver
USD/t.oz
27.621 0.21 -0.77% -0.05% -1.95% 4.79% Jun/15
Platinum
USD/t.oz
1,158.03 6.97 -0.60% -0.29% -6.57% 8.64% Jun/15

Agricultural Price Day Weekly Monthly YTD Date
Soybeans
USd/Bu
1,485.0000 12.75 0.87% -6.01% -6.46% 13.64% Jun/15
Wheat
USd/Bu
663.0000 11.50 -1.70% -3.21% -5.25% 3.51% Jun/15
Lumber
USD/1000 board feet
996.20 63.00 -5.95% -18.42% -24.93% 14.10% Jun/14
Cheese
USD/Lbs
1.6510 0.01 0.49% 0.67% -8.48% 0.30% Jun/14
Palm Oil
MYR/T
3,557.00 182.00 5.39% -12.15% -16.15% -1.19% Jun/15
Milk
USD/CWT
17.25 0.00 0.00% 0.58% -8.49% 9.18% Jun/14
Wool
AUD/100Kg
1,393.00 0.00 0.00% 3.72% 6.66% 18.96% Jun/14
Tea
USD/Kgs
3.19 0.00 0.00% 23.64% 5.63% 11.15% Jun/14
Cocoa
USD/T
2,396.00 46.00 1.96% 1.96% -5.63% -7.95% Jun/14
Coffee
USd/Lbs
154.10 3.35 -2.13% -3.78% 5.55% 20.16% Jun/14
Orange Juice
USd/Lbs
117.65 3.35 -2.77% -6.18% -0.68% -4.54% Jun/14
Rice
USD/cwt
12.4550 0.05 -0.40% -5.21% -7.43% 1.76% Jun/15
Canola
CAD/T
853.60 0.10 -0.01% -1.41% -6.89% 35.60% Jun/15
Rubber
JPY/Kg
247.70 0.60 0.24% 1.14% -4.36% -7.85% Jun/15
Oat
USd/Bu
367.7500 1.00 -0.27% -9.87% 2.01% 1.94% Jun/15
Cotton
USd/Lbs
84.56 0.39 -0.46% -0.68% 2.72% 8.24% Jun/15
Sugar
USd/Lbs
17.04 0.25 -1.45% -3.78% 0.29% 10.01% Jun/15
Corn
USd/BU
658.7500 0.50 -0.08% -3.13% 0.96% 36.11% Jun/15

Livestock Price Day Weekly Monthly YTD Date
Beef
BRL/Kg
20.87 0.15 0.72% 2.76% 4.56% 15.05% Jun/14
Poultry
BRL/Kgs
7.32 0.00 0.00% 3.54% 1.39% 21.80% Jun/14
Feeder Cattle
USd/Lbs
154.6000 3.43 2.27% 2.93% 12.09% 11.26% Jun/14
Live Cattle
USd/Lbs
119.3750 0.68 0.57% 2.71% 3.49% 3.78% Jun/14
Lean Hogs
USd/Lbs
118.2250 1.75 -1.46% -1.40% 8.81% 68.23% Jun/14

Industrial Price Day Weekly Monthly YTD Date
Copper
USD/Lbs
4.3720 0.16 -3.42% -3.86% -7.40% 24.24% Jun/15
Coal
USD/T
118.00 1.50 -1.26% 5.59% 24.21% 45.28% Jun/14
Steel
CNY/T
4,850.00 50.00 -1.02% -0.21% -18.45% 14.93% Jun/15
Iron Ore
USD/T
214.00 0.00 0.00% 4.90% 2.64% 35.02% Jun/14
Lithium
CNY/T
89,000.00 0.00 0.00% 0.00% 0.00% 91.40% Jun/15
Bitumen
CNY/T
3,234.00 118.00 3.79% 1.51% 4.12% 35.77% Jun/15
Aluminum
USD/T
2,458.25 31.50 -1.27% 1.44% -1.46% 24.11% Jun/15
Tin
USD/T
30,965.00 735.00 -2.32% 1.03% 3.31% 52.42% Jun/15
Zinc
USD/T
2,981.00 76.25 -2.49% -1.27% -1.58% 8.36% Jun/15
Palladium
USD/t.oz
2,748.18 2.75 -0.10% -2.10% -5.28% 12.28% Jun/15
Cobalt
USD/T
42,535.00 0.00 0.00% 0.00% -3.54% 32.14% Jun/14
Lead
USD/T
2,192.25 8.75 -0.40% 2.23% 0.13% 10.96% Jun/14
Nickel
USD/T
18,450.25 245.75 1.35% 3.29% 3.16% 11.46% Jun/14
Molybdenum
USD/Kg
34.75 0.00 0.00% 0.00% 19.83% 47.87% Jun/14
Soda Ash
CNY/T
1,846.00 0.00 0.00% 1.10% 4.89% 37.76% Jun/14
Neodymium
CNY/T
602,500.00 0.00 0.00% 0.00% -5.49% -3.21% Jun/14
Iron Ore 62% fe
USD/T
214.05 0.92 0.43% 5.75% -0.44% 37.35% Jun/14
Manganese
CNY/T
32.25 0.00 0.00% 0.00% 0.78% 3.20% Jun/14
Rhodium
USD/t oz.
22,300.00 0.00 0.00% -0.89% -21.48% 31.18% Jun/14

Index Price Day Weekly Monthly YTD Date
CRB Index
Index Points
224.27 1.29 -0.57% 0.72% 2.47% 25.79% Jun/14
LME Index
Index Points
4,290.60 6.70 0.16% 1.59% -1.70% 25.66% Jun/14
S&P GSCI
Index Points
2,566.49 12.11 -0.47% 0.79% 2.70% 29.82% Jun/14