![]() Steel is one of the world’s most important materials used in construction, cars and all sorts of machines and appliances. ![]() Steel Rebar is mostly traded on the Shanghai Futures Exchange and London Metal Exchange. Historically, Steel reached an all time high of 6198 in May of 2021. Steel - data, forecasts, historical chart - was last updated on October of 2023. Trading Economics does not verify any data and disclaims any obligation to do so. Our steel prices are intended to provide you with a reference only, rather than as a basis for making trading decisions. The steel prices displayed in Trading Economics are based on over-the-counter (OTC) and contract for difference (CFD) financial instruments. By far the biggest producer of crude steel is China, followed by European Union, Japan, United States, India, Russia and South Korea. Ongoing headwinds for the Chinese residential construction sector drove property sales to plunge by 19.8% in September, limiting steel demand from one of its main sources. The developments offset added stress in the residential construction sector after financial institutions officially deemed Country Garden to have defaulted on a dollar bond last week. The measures aligned with calls from other players, including Rio Tinto and JPMorgan, that higher infrastructure spending from China will keep metal commodity markets robust in the short term. ![]() Beijing widened its budget deficit ratio for this year to accommodate for CNY 1 trillion worth of additional sovereign debt, set to target manufacturing and steel-intensive infrastructure. Steel rebar futures rose above the CNY 3,650 per tonne mark in late October, the highest in one month, as renewed stimulus measures from the Chinese government eased concerns about low resource demand in the world’s top consumer. ![]()
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