Commodity ratio · live
Nickel Futures to Steel Ratio
The nickel futures to steel ratio is 5.545 — Nickel Futures at $16,999.88 per Metric Ton divided by Steel at $3,066.00 per Metric Ton.
Prices as of Aug 24, 2026, 10:37 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Nickel Futures to Steel ratio
1.000 T of nickel futures = 5.545 T of steel
Inverse (STEEL/NICKEL-FUT): 0.1804 — one Metric Ton of steel buys that much nickel futures.
Close to the middle of its 1 year range. (53th percentile of the last 1 year)
Nickel Futures
$16,999.88
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 nickel futures. Prices as of Mon, 24 Aug 2026 10:37:35 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
5.421
median 5.523
1Y low
4.629
Dec 17, 2025
1Y high
6.251
Apr 28, 2026
Normal band
5.022–5.819
mean ± 1 std dev
Deviation from mean
+0.31σ
318 observations
Nickel Futures to Steel ratio charts
Pick a range once — it applies to the NICKEL-FUT/STEEL ratio line, the OHLC candles and the Nickel Futures / Steel price chart below.
NICKEL-FUT/STEEL ratio line
How many T of Steel one T of Nickel Futures buys, over 1Y.
NICKEL-FUT/STEEL ratio candles
Open, high, low and close of the NICKEL-FUT/STEEL ratio for each period in the last 1Y.
Nickel 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 nickel futures to steel ratio
Nickel Futures to Steel ratio = Nickel 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 nickel futures — rather than a plain count.
Worked example, live prices: $16,999.88 ÷ $3,066.00 = 5.545. The inverse is 0.1804.
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 nickel futures to steel ratio today?
The nickel futures to steel ratio is 5.545 — Nickel Futures at $16,999.88 per Metric Ton divided by Steel at $3,066.00 per Metric Ton, from live mid-market prices.
How do you calculate the nickel futures to steel ratio?
Divide the nickel 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 nickel futures.
What is the inverse of the nickel futures to steel ratio?
The inverse, steel to nickel futures, is 0.1804 — how many Metric Tons of nickel futures one Metric Ton of steel buys.