According to the data released by the China Iron and Steel Association (CISA), as of the end of August (August 31) this year the composite steel price index (CSPI) for the Chinese domestic market was at 77.54 points, up 5.45 points or 7.56 percent month on month, while increasing by 14.18 points or 22.38 percent on year-on-year basis.
At the end of August, the CSPI long steel index was at 76.85 points, up 5.30 points or 7.41 percent month on month and increasing by 11.50 points or 17.60 percent year on year, while the CSPI flat steel index stood at 79.94 points, up 5.39 points or 7.23 percent month on month and increasing by 18.10 points or 29.27 percent year on year.
As of the end of August 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), seamless pipe and hot dip galvanized (HDG) increased by RMB 149/mt ($22.34/mt), RMB 169/mt ($25.34/mt), RMB 204/mt ($30.58/mt), RMB 177/mt ($26.54/mt), RMB 208/mt ($31.18/mt), RMB 283/mt ($42.43/mt), RMB 343/mt ($51.42/mt) and RMB 343/mt($51.42/mt), all compared to price levels at the end of July of the current year.