According to the data released by the China Iron and Steel Association (CISA), as of the end of May this year (May 31) the composite steel price index (CSPI) for the Chinese domestic market was at 69.97 points, down 14.69 points or 17.35 percent month on month, while decreasing by 0.35 points or 0.50 percent on year-on-year basis.
At the end of May this year, the CSPI long steel index was at 68.20 points, down 17.82 points or 20.72 percent month on month and decreasing by 2.38 points or 3.37 percent year on year, while the CSPI flat steel index stood at 73.51 points, down 13.01 points or 15.04 percent month on month and increasing by 2.73 points or 3.86 percent year on year.
As of the end of May this year, among the eight main steel products monitored by the CISA, prices of high-speed wire rod, rebar, angles, medium plate, hot rolled coil (HRC), cold rolled sheet (CRS), hot dip galvanized (HDG) and seamless pipe decreased by RMB 680/mt ($103.2/mt), RMB 749/mt ($113.7/mt), RMB 383/mt ($58.1/mt), RMB 535/mt ($81.2/mt), RMB 565/mt ($85.7/mt), RMB 563/mt ($85.4/mt), RMB 211/mt ($32.0/mt) and RMB 236/mt ($35.8/mt) respectively, all compared to prices at the end of April this year.