The BDI for the first three days in May averaged 1,072. Year to date (YTD), the index has averaged 1,014. In the same period last year the BDI average was 427.

Merchant final imports to the US in February were down 10.6% year to date (YTD), year on year (y/y), totaling 84,529 tons for the two months ending February 2017. On a month over month comparison, Merchant imports were down 0.9%.

Long product prices rose a fraction for all product groups for the week ending April 26^th according to China Metals Weekly (CMW). However, on a month on month (m/m) long product prices were down across the board ranging from 9.9% for 16# channel to 10.5% for 20mm rebar.

Rebar final imports to the US in February were up 21.1% year to date (YTD), year on year (y/y), totaling 385,614 tons for the two months ending February 2017. On a month over month comparison, rebar imports fell 26.3%.

Wire rod final imports to the US in February were down 6.5% year to date (YTD), year on year (y/y), totaling 291,425 tons for the two months ending February 2017. On a month over month comparison, wire rod imports jumped 28.2%.

Worldsteel Association (WSA) reports that global crude steel production totaled 144.95 million tonnes (Mt) at a capacity utilization rate (CUR) of 72.7% in March. This was a 4.8% year on year (y/y), increase and the highest CUR since December 2015.