Commodity ratio · live
Hot-Rolled Coil Steel to Natural Gas Futures Ratio
The hot-rolled coil steel to natural gas futures ratio is 433.7 — Hot-Rolled Coil Steel at $1,197.06 per Metric Ton divided by Natural Gas Futures at $2.76 per Million British Thermal Units.
Prices as of Aug 24, 2026, 10:39 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Hot-Rolled Coil Steel to Natural Gas Futures ratio
1.000 T of hot-rolled coil steel = 433.717 MMBtu of natural gas futures
Inverse (NG-FUT/HRC-STEEL): 0.002306 — one Million British Thermal Units of natural gas futures buys that much hot-rolled coil steel.
Near the top of its 1 year range — historically stretched. (94th percentile of the last 1 year)
Hot-Rolled Coil Steel
$1,197.06
per Metric Ton
Natural Gas Futures
$2.76
per Million British Thermal Units
Unit basis: USD per Metric Ton ÷ USD per Million British Thermal Units. The ratio reads as Million British Thermal Unitss of natural gas futures per Metric Ton of hot-rolled coil steel. Prices as of Mon, 24 Aug 2026 10:39:00 GMT.
1Y average
317.4
median 327.8
1Y low
142.8
Jan 25, 2026
1Y high
458.6
Aug 15, 2026
Normal band
234.9–399.8
mean ± 1 std dev
Deviation from mean
+1.41σ
349 observations
Hot-Rolled Coil Steel to Natural Gas Futures ratio charts
Pick a range once — it applies to the HRC-STEEL/NG-FUT ratio line, the OHLC candles and the Hot-Rolled Coil Steel / Natural Gas Futures price chart below.
HRC-STEEL/NG-FUT ratio line
How many MMBtu of Natural Gas Futures one T of Hot-Rolled Coil Steel buys, over 1Y.
HRC-STEEL/NG-FUT ratio candles
Open, high, low and close of the HRC-STEEL/NG-FUT ratio for each period in the last 1Y.
Hot-Rolled Coil Steel and Natural Gas Futures prices
Both legs of the ratio on their own axes, so you can see which one moved over 1Y.
How to calculate the hot-rolled coil steel to natural gas futures ratio
Hot-Rolled Coil Steel to Natural Gas Futures ratio = Hot-Rolled Coil Steel price per Metric Ton ÷ Natural Gas Futures price per Million British Thermal Units
The two legs use different units, so the result is a rate — Million British Thermal Unitss of natural gas futures per Metric Ton of hot-rolled coil steel — rather than a plain count.
Worked example, live prices: $1,197.06 ÷ $2.76 = 433.7. The inverse is 0.002306.
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 hot-rolled coil steel to natural gas futures ratio today?
The hot-rolled coil steel to natural gas futures ratio is 433.7 — Hot-Rolled Coil Steel at $1,197.06 per Metric Ton divided by Natural Gas Futures at $2.76 per Million British Thermal Units, from live mid-market prices.
How do you calculate the hot-rolled coil steel to natural gas futures ratio?
Divide the hot-rolled coil steel price per Metric Ton by the natural gas futures price per Million British Thermal Units. If the two units differ, the result is a rate rather than a plain count — read it as Million British Thermal Unitss of natural gas futures per Metric Ton of hot-rolled coil steel.
What is the inverse of the hot-rolled coil steel to natural gas futures ratio?
The inverse, natural gas futures to hot-rolled coil steel, is 0.002306 — how many Metric Tons of hot-rolled coil steel one Million British Thermal Units of natural gas futures buys.