At present, the related steel futures include rebar futures and wire futures.

Futures is the prediction and trading of future commodity prices.

Both supply and demand sides will do related hedging.

For example, it is March, you need steel in June, and you are worried about the price increase of steel in June. You can find a seller to sign a futures contract on the futures exchange and agree on the price of steel in June to avoid risks. By June, you can buy steel at the agreed price.

Nowadays, few people really use futures to avoid price risk. Most people use futures hedging mechanism to speculate or arbitrage.