What it is
An alloy of iron and carbon, made from iron ore and coking coal in blast furnaces or from scrap in electric furnaces. It is sold as many different products, so there is no single steel price: the usual references are hot-rolled coil, used in manufacturing, and reinforcing bar, used in construction.
How it is usually quoted
US dollars per short ton for hot-rolled coil in the United States; yuan per tonne for reinforcing bar in China.
This is the customary unit of the reference market. Other markets for the same commodity may use another unit or currency, and an exchange can change a contract’s terms: its own rulebook is the authority.
Where the reference contract trades
CME, the Shanghai Futures Exchange and the London Metal Exchange (LME).
Named for orientation only. Naming an exchange or a market here does not mean that GIO4X gives access to it.
What commonly moves it
- Demand from construction, vehicle making and machinery
- The cost of iron ore, coking coal, scrap and energy
- China’s output and how much of it is exported
- Tariffs and other trade measures
These are the things people who follow this market usually watch. They explain how the market works; they do not say what the price will do next.
Where it comes from
China is by far the largest producer, followed by India, Japan, the United States, Russia and South Korea.
The order of producers changes from year to year, so no quantities or shares are given here.
At GIO4X
Steel is not offered as a GIO4X instrument. This page is general education about a market that exists elsewhere, and nothing on it means that GIO4X quotes, trades or gives access to it.
The commodities GIO4X does list are Brent crude, gold, natural gas, palladium, platinum, silver and WTI crude.
Words worth knowing
A reference page. Educational information, not investment advice or a recommendation to trade. It gives no price and no forecast.