Commodity ratio · live
Silver to Steel Ratio
The silver to steel ratio is 0.02249 — Silver at $68.96 per Troy Ounce divided by Steel at $3,066.00 per Metric Ton.
Prices as of Aug 24, 2026, 10:31 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Silver to Steel ratio
1.000 T.oz of silver = 0.02249 T of steel
Inverse (STEEL/XAG): 44.46 — one Metric Ton of steel buys that much silver.
Close to the middle of its 1 year range. (55th percentile of the last 1 year)
Silver
$68.96
per Troy Ounce
Steel
¥3,066.00
per Metric Ton
Unit basis: USD per Troy Ounce ÷ CNY per Metric Ton. The ratio reads as Metric Tons of steel per Troy Ounce of silver. Prices as of Mon, 24 Aug 2026 10:31:53 GMT.
These two commodities are quoted in different currencies (USD and CNY). The figure above is a raw quote ratio and is not FX-adjusted.
1Y average
0.02146
median 0.02153
1Y low
0.01210
Aug 24, 2025
1Y high
0.03820
Jan 29, 2026
Normal band
0.01659–0.02633
mean ± 1 std dev
Deviation from mean
+0.21σ
318 observations
Silver to Steel ratio charts
Pick a range once — it applies to the XAG/STEEL ratio line, the OHLC candles and the Silver / Steel price chart below.
XAG/STEEL ratio line
How many T of Steel one T.oz of Silver buys, over 1Y.
XAG/STEEL ratio candles
Open, high, low and close of the XAG/STEEL ratio for each period in the last 1Y.
Silver and Steel prices
Both legs of the ratio on their own axes, so you can see which one moved over 1Y.
How to calculate the silver to steel ratio
Silver to Steel ratio = Silver price per Troy Ounce ÷ Steel price per Metric Ton
The two legs use different units, so the result is a rate — Metric Tons of steel per Troy Ounce of silver — rather than a plain count.
Worked example, live prices: $68.96 ÷ $3,066.00 = 0.02249. The inverse is 44.46.
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 silver to steel ratio today?
The silver to steel ratio is 0.02249 — Silver at $68.96 per Troy Ounce divided by Steel at $3,066.00 per Metric Ton, from live mid-market prices.
How do you calculate the silver to steel ratio?
Divide the silver price per Troy Ounce by the steel 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 steel per Troy Ounce of silver.
What is the inverse of the silver to steel ratio?
The inverse, steel to silver, is 44.46 — how many Troy Ounces of silver one Metric Ton of steel buys.