Brazilian flat steel product exports in May increased 474.1% from the same month a year ago, while revenue grew 264.7%, Ministry of Development and Trade data showed Monday.

The ministry said Brazil exported 301,400 mt of flat steel products in May, up from 52,500 mt in May 2014, while revenue rose to $178.7 million FOB from $49 million FOB a year earlier.

May shipments also rose 58% from the 131,300 mt shipped in April, with revenue rising 92.8% from $92.7 million FOB month on month.

Brazil's May exports of semi-finished steel spiked 73.5% to 676,200 mt from 389,800 mt in May 2014. Overall sales jumped 22.8% to $248.9 million FOB.

Month on month, May semi-finished steel exports were up 65.8% from 407,800 mt in April, while overall sales grew 54.5% from $161.1 million FOB.