Commodity ratio · live
Copper Futures to Steel Ratio
The copper futures to steel ratio is 0.002146 — Copper Futures at $6.58 per Pound divided by Steel at $3,066.00 per Metric Ton.
Prices as of Aug 24, 2026, 10:38 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Copper Futures to Steel ratio
1.000 Lb of copper futures = 0.002146 T of steel
Inverse (STEEL/HG-FUT): 466.0 — one Metric Ton of steel buys that much copper futures.
Near the top of its 1 year range — historically stretched. (94th percentile of the last 1 year)
Copper Futures
$6.58
per Pound
Steel
¥3,066.00
per Metric Ton
Unit basis: USD per Pound ÷ CNY per Metric Ton. The ratio reads as Metric Tons of steel per Pound of copper futures. Prices as of Mon, 24 Aug 2026 10:38:45 GMT.
These two commodities are quoted in different currencies (USD and CNY). The figure above is a raw quote ratio and is not FX-adjusted.
1Y average
0.001854
median 0.001880
1Y low
0.001388
Aug 24, 2025
1Y high
0.002251
Aug 5, 2026
Normal band
0.001673–0.002035
mean ± 1 std dev
Deviation from mean
+1.61σ
307 observations
Copper Futures to Steel ratio charts
Pick a range once — it applies to the HG-FUT/STEEL ratio line, the OHLC candles and the Copper Futures / Steel price chart below.
HG-FUT/STEEL ratio line
How many T of Steel one Lb of Copper Futures buys, over 1Y.
HG-FUT/STEEL ratio candles
Open, high, low and close of the HG-FUT/STEEL ratio for each period in the last 1Y.
Copper Futures and Steel prices
Both legs of the ratio on their own axes, so you can see which one moved over 1Y.
How to calculate the copper futures to steel ratio
Copper Futures to Steel ratio = Copper Futures price per Pound ÷ Steel price per Metric Ton
The two legs use different units, so the result is a rate — Metric Tons of steel per Pound of copper futures — rather than a plain count.
Worked example, live prices: $6.58 ÷ $3,066.00 = 0.002146. The inverse is 466.0.
The flagship commodity ratios
Each of these has its own dedicated page with live pricing, a full year of history and range statistics.
Live prices behind the ratio
| # | Symbol | Name | Rate (USD) |
|---|---|---|---|
| 1 | XAU | Gold | 4647.62 |
| 2 | XAG | Silver | 69.00 |
| 3 | WTIOIL-FUT | Crude Oil WTI Futures | 85.69 |
| 4 | BRENTOIL-FUT | Crude Oil Brent Futures | 92.75 |
| 5 | NG-FUT | Natural Gas Futures | 2.77 |
| 6 | PL | Platinum | 1885.63 |
| 7 | PA | Palladium | 1351.00 |
Frequently asked questions
What is the copper futures to steel ratio today?
The copper futures to steel ratio is 0.002146 — Copper Futures at $6.58 per Pound divided by Steel at $3,066.00 per Metric Ton, from live mid-market prices.
How do you calculate the copper futures to steel ratio?
Divide the copper futures price per Pound by the steel price per Metric Ton. If the two units differ, the result is a rate rather than a plain count — read it as Metric Tons of steel per Pound of copper futures.
What is the inverse of the copper futures to steel ratio?
The inverse, steel to copper futures, is 466.0 — how many Pounds of copper futures one Metric Ton of steel buys.