Commodity ratio · live
Steel to Nickel Futures Ratio
The steel to nickel futures ratio is 0.1804 — Steel at $3,066.00 per Metric Ton divided by Nickel Futures at $16,999.88 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.
Steel to Nickel Futures ratio
1.000 T of steel = 0.1804 T of nickel futures
Inverse (NICKEL-FUT/STEEL): 5.545 — one Metric Ton of nickel futures buys that much steel.
Close to the middle of its 1 year range. (47th percentile of the last 1 year)
Steel
¥3,066.00
per Metric Ton
Nickel Futures
$16,999.88
per Metric Ton
Unit basis: CNY per Metric Ton ÷ USD per Metric Ton. The ratio reads as Metric Tons of nickel futures per Metric Ton of steel. Prices as of Mon, 24 Aug 2026 10:37:35 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
0.1855
median 0.1811
1Y low
0.1600
Apr 28, 2026
1Y high
0.2160
Dec 17, 2025
Normal band
0.1715–0.1995
mean ± 1 std dev
Deviation from mean
-0.37σ
318 observations
Steel to Nickel Futures ratio charts
Pick a range once — it applies to the STEEL/NICKEL-FUT ratio line, the OHLC candles and the Steel / Nickel Futures price chart below.
STEEL/NICKEL-FUT ratio line
How many T of Nickel Futures one T of Steel buys, over 1Y.
STEEL/NICKEL-FUT ratio candles
Open, high, low and close of the STEEL/NICKEL-FUT ratio for each period in the last 1Y.
Steel and Nickel 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 nickel futures ratio
Steel to Nickel Futures ratio = Steel price per Metric Ton ÷ Nickel Futures price per Metric Ton
The two legs use different units, so the result is a rate — Metric Tons of nickel futures per Metric Ton of steel — rather than a plain count.
Worked example, live prices: $3,066.00 ÷ $16,999.88 = 0.1804. The inverse is 5.545.
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 nickel futures ratio today?
The steel to nickel futures ratio is 0.1804 — Steel at $3,066.00 per Metric Ton divided by Nickel Futures at $16,999.88 per Metric Ton, from live mid-market prices.
How do you calculate the steel to nickel futures ratio?
Divide the steel price per Metric Ton by the nickel 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 nickel futures per Metric Ton of steel.
What is the inverse of the steel to nickel futures ratio?
The inverse, nickel futures to steel, is 5.545 — how many Metric Tons of steel one Metric Ton of nickel futures buys.