Global steel and raw material prices largely declined in May 2025, as mounting Chinese steel exports (up 10% y-o-y and 1% m-o-m to a seven-month high of 10.6 mnt) led to a demand contraction across various commodities and regions. May marked the third consecutive month in which Chinas exports exceeded 10 million tonnes (mnt). Moreover, the trade war ignited by Trump kept the market uncertain and cautious. Only coking coal prices registered a notable uptick m-o-m, and while India’s hot-rolled coil (HRC) offers to the EU inched up, trade activity was limited. Prices of all other commodities eroded m-o-m.
Leave a Reply