Commodity ratio · live
Steel to Silver Ratio
The steel to silver ratio is 44.46 — Steel at $3,066.00 per Metric Ton divided by Silver at $68.96 per Troy Ounce.
Prices as of Aug 24, 2026, 10:31 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Steel to Silver ratio
1.000 T of steel = 44.461 T.oz of silver
Inverse (XAG/STEEL): 0.02249 — one Troy Ounce of silver buys that much steel.
Close to the middle of its 1 year range. (45th percentile of the last 1 year)
Steel
¥3,066.00
per Metric Ton
Silver
$68.96
per Troy Ounce
Unit basis: CNY per Metric Ton ÷ USD per Troy Ounce. The ratio reads as Troy Ounces of silver per Metric Ton of steel. Prices as of Mon, 24 Aug 2026 10:31:52 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
49.17
median 46.44
1Y low
26.18
Jan 29, 2026
1Y high
82.65
Aug 24, 2025
Normal band
37.40–60.95
mean ± 1 std dev
Deviation from mean
-0.40σ
318 observations
Steel to Silver ratio charts
Pick a range once — it applies to the STEEL/XAG ratio line, the OHLC candles and the Steel / Silver price chart below.
STEEL/XAG ratio line
How many T.oz of Silver one T of Steel buys, over 1Y.
STEEL/XAG ratio candles
Open, high, low and close of the STEEL/XAG ratio for each period in the last 1Y.
Steel and Silver 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 silver ratio
Steel to Silver ratio = Steel price per Metric Ton ÷ Silver price per Troy Ounce
The two legs use different units, so the result is a rate — Troy Ounces of silver per Metric Ton of steel — rather than a plain count.
Worked example, live prices: $3,066.00 ÷ $68.96 = 44.46. The inverse is 0.02249.
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 silver ratio today?
The steel to silver ratio is 44.46 — Steel at $3,066.00 per Metric Ton divided by Silver at $68.96 per Troy Ounce, from live mid-market prices.
How do you calculate the steel to silver ratio?
Divide the steel price per Metric Ton by the silver price per Troy Ounce. If the two units differ, the result is a rate rather than a plain count — read it as Troy Ounces of silver per Metric Ton of steel.
What is the inverse of the steel to silver ratio?
The inverse, silver to steel, is 0.02249 — how many Metric Tons of steel one Troy Ounce of silver buys.