Steel futures are futures with steel as the subject matter, and steel futures that can be traded include rebar futures and wire futures. Steel trade accounts for a considerable proportion in the global merchandise trade. With the globalization and high efficiency of the steel industry, its financial attributes are increasingly prominent. The open market leads to steel price fluctuation and supply chain interruption, which makes the transaction full of uncertainty, while the derivatives market makes it possible for enterprises to avoid these risks. The introduction of steel futures will strengthen the transparency of steel prices and enable enterprises to better manage price risks, manage cash flow, predict profits and plan production more effectively. All enterprises in the iron and steel industry chain can use the upcoming two futures varieties of wire rod and rebar for complete or fitting hedging.