U.S. steel imports posted a sharp year-on-year decline in this year's January-March quarter, despite a modest monthly increase in March, according to data released by the U.S. Census Bureau under the Department of Commerce (DoC).

Shagang Group (Shagang), China's leading privately-owned steel firm and its largest electric-arc-furnace steelmaker, has decided to lift its long-product list prices for sales over May 11-20 by Yuan 50/t ($7.3/t) from the first ten days in May, the company announced on May 11.

The polyethylene market is currently in a contradictory state. On the demand side, the traditional off-season has set in, with downstream operating rates remaining low and orders declining. On the cost side, prices stay elevated, supported by geopolitical premiums in international crude oil.