Commodity ratio · live
Iron Ore to Steel Ratio
The iron ore to steel ratio is 0.03314 — Iron Ore at $101.60 per Metric Ton divided by Steel at $3,066.00 per Metric Ton.
Prices as of Aug 24, 2026, 12:20 PM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Iron Ore to Steel ratio
1.000 T of iron ore = 0.03314 T of steel
Inverse (STEEL/IORECR): 30.18 — one Metric Ton of steel buys that much iron ore.
Iron Ore
$101.60
per Metric Ton
Steel
¥3,066.00
per Metric Ton
Unit basis: USD per Metric Ton ÷ CNY per Metric Ton. The ratio reads as Metric Tons of steel per Metric Ton of iron ore. Prices as of Mon, 24 Aug 2026 12:20:55 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.
Iron Ore to Steel ratio charts
Pick a range once — it applies to the IORECR/STEEL ratio line, the OHLC candles and the Iron Ore / Steel price chart below.
IORECR/STEEL ratio line
How many T of Steel one T of Iron Ore buys, over 1Y.
No overlapping history for IORECR/STEEL over 1Y. Try a longer range.
IORECR/STEEL ratio candles
Open, high, low and close of the IORECR/STEEL ratio for each period in the last 1Y.
No overlapping history for IORECR/STEEL over 1Y. Try a longer range.
Iron Ore 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 iron ore to steel ratio
Iron Ore to Steel ratio = Iron Ore price per Metric Ton ÷ Steel price per Metric Ton
The two legs use different units, so the result is a rate — Metric Tons of steel per Metric Ton of iron ore — rather than a plain count.
Worked example, live prices: $101.60 ÷ $3,066.00 = 0.03314. The inverse is 30.18.
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 | 4655.18 |
| 2 | XAG | Silver | 69.27 |
| 3 | WTIOIL-FUT | Crude Oil WTI Futures | 85.69 |
| 4 | BRENTOIL-FUT | Crude Oil Brent Futures | 92.99 |
| 5 | NG-FUT | Natural Gas Futures | 2.81 |
| 6 | PL | Platinum | 1887.51 |
| 7 | PA | Palladium | 1353.70 |
Frequently asked questions
What is the iron ore to steel ratio today?
The iron ore to steel ratio is 0.03314 — Iron Ore at $101.60 per Metric Ton divided by Steel at $3,066.00 per Metric Ton, from live mid-market prices.
How do you calculate the iron ore to steel ratio?
Divide the iron ore price per Metric Ton 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 Metric Ton of iron ore.
What is the inverse of the iron ore to steel ratio?
The inverse, steel to iron ore, is 30.18 — how many Metric Tons of iron ore one Metric Ton of steel buys.