Commodity ratio · live
Steel to Magnesium Ratio
The steel to magnesium ratio is 0.1814 — Steel at $3,066.00 per Metric Ton divided by Magnesium at $16,900.00 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.
Steel to Magnesium ratio
1.000 T of steel = 0.1814 T of magnesium
Inverse (MG/STEEL): 5.512 — one Metric Ton of magnesium buys that much steel.
Above its 1 year average. (76th percentile of the last 1 year)
Steel
¥3,066.00
per Metric Ton
Magnesium
¥16,900.00
per Metric Ton
Unit basis: CNY per Metric Ton ÷ CNY per Metric Ton. The ratio reads as Metric Tons of magnesium per Metric Ton of steel. Prices as of Mon, 24 Aug 2026 10:30:28 GMT.
1Y average
0.1779
median 0.1781
1Y low
0.1654
Apr 9, 2026
1Y high
0.1889
Jul 16, 2026
Normal band
0.1732–0.1826
mean ± 1 std dev
Deviation from mean
+0.75σ
314 observations
Steel to Magnesium ratio charts
Pick a range once — it applies to the STEEL/MG ratio line, the OHLC candles and the Steel / Magnesium price chart below.
STEEL/MG ratio line
How many T of Magnesium one T of Steel buys, over 1Y.
STEEL/MG ratio candles
Open, high, low and close of the STEEL/MG ratio for each period in the last 1Y.
Steel and Magnesium 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 magnesium ratio
Steel to Magnesium ratio = Steel price per Metric Ton ÷ Magnesium 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: $3,066.00 ÷ $16,900.00 = 0.1814. The inverse is 5.512.
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 steel to magnesium ratio today?
The steel to magnesium ratio is 0.1814 — Steel at $3,066.00 per Metric Ton divided by Magnesium at $16,900.00 per Metric Ton, from live mid-market prices.
How do you calculate the steel to magnesium ratio?
Divide the steel price per Metric Ton by the magnesium 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 magnesium per Metric Ton of steel.
What is the inverse of the steel to magnesium ratio?
The inverse, magnesium to steel, is 5.512 — how many Metric Tons of steel one Metric Ton of magnesium buys.