Commodity ratio · live
Steel to Milk Ratio
The steel to milk ratio is 184.4 — Steel at $3,066.00 per Metric Ton divided by Milk at $16.63 per Hundredweight.
Prices as of Aug 24, 2026, 10:32 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Steel to Milk ratio
1.000 T of steel = 184.366 Cwt of milk
Inverse (MILK/STEEL): 0.005424 — one Hundredweight of milk buys that much steel.
Close to the middle of its 1 year range. (38th percentile of the last 1 year)
Steel
¥3,066.00
per Metric Ton
Milk
$16.63
per Hundredweight
Unit basis: CNY per Metric Ton ÷ USD per Hundredweight. The ratio reads as Hundredweights of milk per Metric Ton of steel. Prices as of Mon, 24 Aug 2026 10:32:09 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
189.6
median 190.2
1Y low
169.4
Aug 31, 2025
1Y high
216.1
Jan 28, 2026
Normal band
178.7–200.4
mean ± 1 std dev
Deviation from mean
-0.48σ
318 observations
Steel to Milk ratio charts
Pick a range once — it applies to the STEEL/MILK ratio line, the OHLC candles and the Steel / Milk price chart below.
STEEL/MILK ratio line
How many Cwt of Milk one T of Steel buys, over 1Y.
STEEL/MILK ratio candles
Open, high, low and close of the STEEL/MILK ratio for each period in the last 1Y.
Steel and Milk 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 milk ratio
Steel to Milk ratio = Steel price per Metric Ton ÷ Milk price per Hundredweight
The two legs use different units, so the result is a rate — Hundredweights of milk per Metric Ton of steel — rather than a plain count.
Worked example, live prices: $3,066.00 ÷ $16.63 = 184.4. The inverse is 0.005424.
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 milk ratio today?
The steel to milk ratio is 184.4 — Steel at $3,066.00 per Metric Ton divided by Milk at $16.63 per Hundredweight, from live mid-market prices.
How do you calculate the steel to milk ratio?
Divide the steel price per Metric Ton by the milk price per Hundredweight. If the two units differ, the result is a rate rather than a plain count — read it as Hundredweights of milk per Metric Ton of steel.
What is the inverse of the steel to milk ratio?
The inverse, milk to steel, is 0.005424 — how many Metric Tons of steel one Hundredweight of milk buys.