Steel rebar futures fell to CNY 3,020 per tonne in late May, testing eight-month lows and tracking the decline in ferrous metals as the pessimistic demand outlook outweighed likely supply cuts. The Chinese government stated it would overhaul laws to prohibit the sales of homes before their completion. If done, the rule would remove a key source of financing for major property developers and magnify the financial stress for the debt-ridden sector, limiting steel demand from major buyers. Additionally, anti-dumping probes by major steel importers, including South Korea, Vietnam, Brazil, Mexico, and South Africa, are likely to reduce foreign demand. Exports for Chinese mills were a key source of steel bidding as slowing domestic demand drove producers to look elsewhere to meet their sales target. Consequently, industry groups backed rhetoric from Beijing that it would deploy a steel output mandate, with Baosteel hinting at a national output cut of 50 million tonnes this year.
Steel decreased 293 Yuan/MT or 8.85% since the beginning of 2025, 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 May 31 of 2025.
Steel decreased 293 Yuan/MT or 8.85% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Steel is expected to trade at 3026.47 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 2868.72 in 12 months time.