Commodity ratio · live
Lead Futures to Steel Ratio
The lead futures to steel ratio is 0.6232 — Lead Futures at $1,910.83 per Metric Ton divided by Steel at $3,066.00 per Metric Ton.
Prices as of Aug 24, 2026, 11:30 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Lead Futures to Steel ratio
1.000 T of lead futures = 0.6232 T of steel
Inverse (STEEL/LEAD-FUT): 1.605 — one Metric Ton of steel buys that much lead futures.
Below its 1 year average. (22th percentile of the last 1 year)
Lead Futures
$1,910.83
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 lead futures. Prices as of Mon, 24 Aug 2026 11:30:36 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
0.6380
median 0.6377
1Y low
0.5934
Jul 15, 2026
1Y high
0.6938
Nov 9, 2025
Normal band
0.6198–0.6562
mean ± 1 std dev
Deviation from mean
-0.81σ
306 observations
Lead Futures to Steel ratio charts
Pick a range once — it applies to the LEAD-FUT/STEEL ratio line, the OHLC candles and the Lead Futures / Steel price chart below.
LEAD-FUT/STEEL ratio line
How many T of Steel one T of Lead Futures buys, over 1Y.
LEAD-FUT/STEEL ratio candles
Open, high, low and close of the LEAD-FUT/STEEL ratio for each period in the last 1Y.
Lead 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 lead futures to steel ratio
Lead Futures to Steel ratio = Lead Futures 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 lead futures — rather than a plain count.
Worked example, live prices: $1,910.83 ÷ $3,066.00 = 0.6232. The inverse is 1.605.
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 | 4640.70 |
| 2 | XAG | Silver | 68.90 |
| 3 | WTIOIL-FUT | Crude Oil WTI Futures | 85.69 |
| 4 | BRENTOIL-FUT | Crude Oil Brent Futures | 92.88 |
| 5 | NG-FUT | Natural Gas Futures | 2.78 |
| 6 | PL | Platinum | 1883.84 |
| 7 | PA | Palladium | 1350.90 |
Frequently asked questions
What is the lead futures to steel ratio today?
The lead futures to steel ratio is 0.6232 — Lead Futures at $1,910.83 per Metric Ton divided by Steel at $3,066.00 per Metric Ton, from live mid-market prices.
How do you calculate the lead futures to steel ratio?
Divide the lead futures 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 lead futures.
What is the inverse of the lead futures to steel ratio?
The inverse, steel to lead futures, is 1.605 — how many Metric Tons of lead futures one Metric Ton of steel buys.