In this paper, load monitoring technologies using U-shape Magnetoelastic (EM or ME) sensors have been exploited systemically for the first time. The steel rod to be tested is the Japan 7 mm piano steel rod. The load dependence of the magnetic properties of the piano steel rod was manifested. Two experimental designs of U-shape magnetoelastic sensors were introduced, one with double pick-up concentric coils wound on the rod to be tested, the other with pick-up coil on one yoke foot. The former design is used to derive the correlation of the relative permeability with elastic tension, while the latter is aimed to reflect the stress induced magnetic flux variation along the magnetic circuit. Magnetostatic simulations provide interpretations for the yoke foot sensing technology. Tests with double pick-up coils indicate that under proper working points (primary voltages), the relative permeability varies linearly with the axial load for the Japan 7 mm piano steel rod. Tests with pick-up coil on the yoke foot show that the integrated sensing voltage changes quadratically with the load, and error is more acceptable when the working point is high enough.