Commodity ratio · live
Magnesium to Steel Ratio
The magnesium to steel ratio is 5.512 — Magnesium at $16,900.00 per Metric Ton divided by Steel at $3,066.00 per Metric Ton.
Prices as of Aug 24, 2026, 10:30 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Magnesium to Steel ratio
1.000 T of magnesium = 5.512 T of steel
Inverse (STEEL/MG): 0.1814 — one Metric Ton of steel buys that much magnesium.
Below its 1 year average. (24th percentile of the last 1 year)
Magnesium
¥16,900.00
per Metric Ton
Steel
¥3,066.00
per Metric Ton
Unit basis: CNY per Metric Ton ÷ CNY per Metric Ton. The ratio reads as Metric Tons of steel per Metric Ton of magnesium. Prices as of Mon, 24 Aug 2026 10:30:30 GMT.
1Y average
5.625
median 5.616
1Y low
5.293
Jul 16, 2026
1Y high
6.044
Apr 9, 2026
Normal band
5.475–5.774
mean ± 1 std dev
Deviation from mean
-0.75σ
314 observations
Magnesium to Steel ratio charts
Pick a range once — it applies to the MG/STEEL ratio line, the OHLC candles and the Magnesium / Steel price chart below.
MG/STEEL ratio line
How many T of Steel one T of Magnesium buys, over 1Y.
MG/STEEL ratio candles
Open, high, low and close of the MG/STEEL ratio for each period in the last 1Y.
Magnesium 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 magnesium to steel ratio
Magnesium to Steel ratio = Magnesium price per Metric Ton ÷ Steel price per Metric Ton
Both legs share the same unit, so the result is a plain unitless number, directly comparable across time.
Worked example, live prices: $16,900.00 ÷ $3,066.00 = 5.512. The inverse is 0.1814.
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 magnesium to steel ratio today?
The magnesium to steel ratio is 5.512 — Magnesium at $16,900.00 per Metric Ton divided by Steel at $3,066.00 per Metric Ton, from live mid-market prices.
How do you calculate the magnesium to steel ratio?
Divide the magnesium 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 magnesium.
What is the inverse of the magnesium to steel ratio?
The inverse, steel to magnesium, is 0.1814 — how many Metric Tons of magnesium one Metric Ton of steel buys.