According to data released by the China Iron and Steel Association (CISA) on January 22, as of the end of December (December 31) the composite steel price index (CSPI) for the Chinese domestic market was at 83.09 points, down 2.20 points or 2.58 percent month on month, compared to a decline of 1.28 percent during the month of November, while the index decreased by 16.05 points or 16.19 percent year on year.
At the end of December, the CSPI long steel index was at 82.71 points, down 3.38 points or 3.93 percent month on month and decreasing by 19.63 points or 19.18 percent year on year, while the CSPI flat steel index stood at 85.10 points, down 1.01 points or 1.17 percent month on month and declining by 12.76 points or 13.04 percent year on year.
During December, among the eight main steel products monitored by the CISA, prices of wire rod and rebar indicated a sharp decreasing trend, declining by RMB 135/mt ($21.8/mt) and RMB 151/mt ($24.4/mt) respectively. During the month of December, prices of angles, medium plate, hot rolled coil (HRC), cold rolled sheet (CRS), hot dip galvanized (HDG) and seamless pipe indicated decreases of RMB 71/mt ($11.5/mt), RMB 15/mt ($2.4/mt), RMB 11/mt ($1.8/mt), RMB 47/mt ($7.6/mt), RMB 55/mt ($8.9/mt) and RMB 91/mt ($14.7/mt), respectively.
During December, the CSPI indicated a gradual declining trend, while continuing its slight downtrend in the first and second week of January. As of the end of the second week of January, the CSPI had dropped to 80.30 points.