China consolidates the price recovery

Although there is still no consensus among the various players operating in the Chinese market, some have noted that over the past week there was a “clear trend” of price improvement, particularly for certain items such as Brazilian forequarter. A trader quoted references for the forequarter in 6 cuts at US$/t 5,350 CFR, US$/t 5,300 for 7 cuts, and US$/t 5,250 for 8 cuts; some prestigious-brand plants even achieved US$/t 5,400. There were also sales of shin at US$/t 5,250 CFR and flank 90 VL at US$ 4,300.