According to data released by the Brazilian Secretary of Foreign Trade, the country’s exports of steel flat products totaled 52,500 tons in May, slumping by 63% year-over-year.
China’s steel prices continue the flat trend they’ve been in for the past few weeks as well.
Chinese steel prices closed flat for the day. The price of iron ore 58% fines from India hit a high price of CNY 840.00 ($134.30) and a low price of CNY 830.00 ($132.70) per dry metric ton. The price of Chinese HRC continues hovering around CNY 3,380 ($540.41) per metric ton for the fifth day in a row. The price of Chinese coking coal remained essentially flat at CNY 1,390 ($222.24) per metric ton.
The steel billet cash price saw little movement on the LME at $390.00 per metric ton. The steel billet 3-month price saw essentially no change on the LME for the fifth day in a row, remaining around $400.00 per metric ton.
The US HRC futures contract 3-month price saw little price change on Wednesday at $623.00 per short ton. The US HRC futures contract spot price held steady on Wednesday, remaining around $670.00 per short ton.s