Steel rebar futures fell to around CNY 3,010 per ton, reaching their lowest level since October 2025 as widening losses at Chinese steel mills and a deteriorating industry outlook continued to weigh on sentiment. Industry data showed that average losses at steel mills in Tangshan have surpassed CNY 100 per ton and are expected to keep widening, with the sector likely to remain under pressure next month. China’s prolonged property downturn also continued to curb steel demand, as construction accounts for roughly one-third of the country’s steel consumption and represents the bulk of rebar usage. Meanwhile, investors awaited updates from the Politburo meeting in Beijing, where policymakers are widely expected to refrain from announcing major new stimulus measures and instead focus on implementing existing fiscal policies to support the slowing economy.

Steel rose to 2,992 CNY/T on July 31, 2026, up 0.03% from the previous day. Over the past month, Steel's price has fallen 1.77%, and is down 6.88% compared to the same time last year, 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 July 31 of 2026.

Steel rose to 2,992 CNY/T on July 31, 2026, up 0.03% from the previous day. Over the past month, Steel's price has fallen 1.77%, and is down 6.88% compared to the same time last year, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Steel is expected to trade at 3050.43 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 2949.20 in 12 months time.



Price Day Month Year Date
Gold 4,073.75 -29.65 -0.72% 1.05% 21.14% Jul/31
Silver 58.36 -0.644 -1.09% -1.22% 57.61% Jul/31
Copper 6.45 0.0093 0.14% 5.39% 46.14% Jul/31
Steel 2,992.00 1.00 0.03% -1.77% -6.88% Jul/31
Lithium 146,000.00 0 0% -8.75% 102.78% Jul/30
Platinum 1,640.20 -20.00 -1.20% 2.52% 24.60% Jul/31
Iron Ore 98.25 -0.02 -0.02% -0.11% -0.88% Jul/30


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
2992.00 2991.00 6198.00 1580.00 2009 - 2026 Yuan/MT Daily

News Stream
Steel Declines to 9-Month Low
Steel rebar futures fell to around CNY 3,010 per ton, reaching their lowest level since October 2025 as widening losses at Chinese steel mills and a deteriorating industry outlook continued to weigh on sentiment. Industry data showed that average losses at steel mills in Tangshan have surpassed CNY 100 per ton and are expected to keep widening, with the sector likely to remain under pressure next month. China’s prolonged property downturn also continued to curb steel demand, as construction accounts for roughly one-third of the country’s steel consumption and represents the bulk of rebar usage. Meanwhile, investors awaited updates from the Politburo meeting in Beijing, where policymakers are widely expected to refrain from announcing major new stimulus measures and instead focus on implementing existing fiscal policies to support the slowing economy.
2026-07-30
Steel Holds Decline from 1-Month High
Steel rebar futures in China were close to CNY 3,060 per tonne, holding the pullback from one-month high of CNY 3,130 on July 16th amid low demand in China. The oversupply of housing that caused their prolonged property crisis limited investment for new construction. New home prices contracted further in June, and construction starts by floor area fell 23.4% annually in the first half of the year. Construction accounts for one-third of Chinese steel demand, making up for most of rebar purchases. Manufacturing growth was also muted as low consumer demand was combined with protectionist policies limiting the magnitude of foreign orders for goods producers, especially due to the softening momentum for auto production growth. Consequently, domestic steel output totaled 500 million tonnes in the first half of the year, around 3% below levels from 2025. Still, ample infrastructure expenditure from Beijing, including for power plants, grids, and electricity storage, supported consumption.
2026-07-24
Steel Firms Despite Weak Demand
Steel rebar futures hovered around CNY 3,090 per ton, recovering after recent losses as higher iron ore prices and improving sentiment toward China's steel sector supported the market. Confidence was underpinned by resilient crude steel production, which averaged 2.79 million tons per day in June, the highest since March, while strong iron ore imports and expectations of additional policy stimulus from Beijing also buoyed sentiment. However, gains remained capped by persistent weakness in China's property sector, with first-half real estate investment falling 18% year-on-year and construction starts declining 23.4%. Persistent high temperatures and frequent rainfall across parts of China also continued to disrupt outdoor construction activity, keeping demand for construction steel subdued.
2026-07-23