Commodity ratio · live
Steel to Lead Futures Ratio
The steel to lead futures ratio is 1.607 — Steel at $3,066.00 per Metric Ton divided by Lead Futures at $1,907.83 per Metric Ton.
Prices as of Aug 24, 2026, 12:19 PM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Steel to Lead Futures ratio
1.000 T of steel = 1.607 T of lead futures
Inverse (LEAD-FUT/STEEL): 0.6223 — one Metric Ton of lead futures buys that much steel.
Above its 1 year average. (80th percentile of the last 1 year)
Steel
¥3,066.00
per Metric Ton
Lead Futures
$1,907.83
per Metric Ton
Unit basis: CNY per Metric Ton ÷ USD per Metric Ton. The ratio reads as Metric Tons of lead futures per Metric Ton of steel. Prices as of Mon, 24 Aug 2026 12:19:02 GMT.
These two commodities are quoted in different currencies (CNY and USD). The figure above is a raw quote ratio and is not FX-adjusted.
1Y average
1.569
median 1.568
1Y low
1.441
Nov 9, 2025
1Y high
1.685
Jul 15, 2026
Normal band
1.524–1.613
mean ± 1 std dev
Deviation from mean
+0.86σ
306 observations
Steel to Lead Futures ratio charts
Pick a range once — it applies to the STEEL/LEAD-FUT ratio line, the OHLC candles and the Steel / Lead Futures price chart below.
STEEL/LEAD-FUT ratio line
How many T of Lead Futures one T of Steel buys, over 1Y.
STEEL/LEAD-FUT ratio candles
Open, high, low and close of the STEEL/LEAD-FUT ratio for each period in the last 1Y.
Steel and Lead Futures prices
Both legs of the ratio on their own axes, so you can see which one moved over 1Y.
How to calculate the steel to lead futures ratio
Steel to Lead Futures ratio = Steel price per Metric Ton ÷ Lead Futures price per Metric Ton
The two legs use different units, so the result is a rate — Metric Tons of lead futures per Metric Ton of steel — rather than a plain count.
Worked example, live prices: $3,066.00 ÷ $1,907.83 = 1.607. The inverse is 0.6223.
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 steel to lead futures ratio today?
The steel to lead futures ratio is 1.607 — Steel at $3,066.00 per Metric Ton divided by Lead Futures at $1,907.83 per Metric Ton, from live mid-market prices.
How do you calculate the steel to lead futures ratio?
Divide the steel price per Metric Ton by the lead futures 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 lead futures per Metric Ton of steel.
What is the inverse of the steel to lead futures ratio?
The inverse, lead futures to steel, is 0.6223 — how many Metric Tons of steel one Metric Ton of lead futures buys.