Commodity ratio · live
Steel to Natural Gas Futures Ratio
The steel to natural gas futures ratio is 1087 — Steel at $3,066.00 per Metric Ton divided by Natural Gas Futures at $2.82 per Million British Thermal Units.
Prices as of Aug 24, 2026, 12:24 PM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Steel to Natural Gas Futures ratio
1.000 T of steel = 1,087.2 MMBtu of natural gas futures
Inverse (NG-FUT/STEEL): 0.0009198 — one Million British Thermal Units of natural gas futures buys that much steel.
Above its 1 year average. (81th percentile of the last 1 year)
Steel
¥3,066.00
per Metric Ton
Natural Gas Futures
$2.82
per Million British Thermal Units
Unit basis: CNY per Metric Ton ÷ USD per Million British Thermal Units. The ratio reads as Million British Thermal Unitss of natural gas futures per Metric Ton of steel. Prices as of Mon, 24 Aug 2026 12:24:57 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
955.5
median 987.7
1Y low
459.5
Jan 25, 2026
1Y high
1265
Apr 24, 2026
Normal band
798.5–1113
mean ± 1 std dev
Deviation from mean
+0.84σ
312 observations
Steel to Natural Gas Futures ratio charts
Pick a range once — it applies to the STEEL/NG-FUT ratio line, the OHLC candles and the Steel / Natural Gas Futures price chart below.
STEEL/NG-FUT ratio line
How many MMBtu of Natural Gas Futures one T of Steel buys, over 1Y.
STEEL/NG-FUT ratio candles
Open, high, low and close of the STEEL/NG-FUT ratio for each period in the last 1Y.
Steel and Natural Gas 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 natural gas futures ratio
Steel to Natural Gas Futures ratio = Steel price per Metric Ton ÷ Natural Gas Futures price per Million British Thermal Units
The two legs use different units, so the result is a rate — Million British Thermal Unitss of natural gas futures per Metric Ton of steel — rather than a plain count.
Worked example, live prices: $3,066.00 ÷ $2.82 = 1087. The inverse is 0.0009198.
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 natural gas futures ratio today?
The steel to natural gas futures ratio is 1087 — Steel at $3,066.00 per Metric Ton divided by Natural Gas Futures at $2.82 per Million British Thermal Units, from live mid-market prices.
How do you calculate the steel to natural gas futures ratio?
Divide the steel price per Metric Ton by the natural gas futures price per Million British Thermal Units. If the two units differ, the result is a rate rather than a plain count — read it as Million British Thermal Unitss of natural gas futures per Metric Ton of steel.
What is the inverse of the steel to natural gas futures ratio?
The inverse, natural gas futures to steel, is 0.0009198 — how many Metric Tons of steel one Million British Thermal Units of natural gas futures buys.