This morning in metals news, U.S. steel shipments fell in March, Chinese stainless steel futures surged to a nine-month high and BHP made its first yuan-denominated sale of iron ore to China’s Baosteel.

U.S. steel shipments down 6.3% in March

U.S. shipments of steel fell 6.3% in March compared with March 2019, according to the American Iron and Steel Institute (AISI).

The 7.8 million tons of steel shipped in March, however, marked a 0.4% increase from February shipments.

Chinese stainless steel futures jump

Chinese stainless steel futures have risen to a nine-month high, Reuters reported.

The most-traded stainless steel futures contract on the SHFE closed up 4% on Monday, reaching 13,675 yuan per ton ($1,931.55).

BHP makes first yuan-denominated sale to Baosteel

Miner BHP has made its first yuan-denominated iron ore sale to Chinese steel giant Baosteel, Reuters reported.