According to the data released by the China Iron and Steel Association (CISA), as of the end of February this year (February 29) the composite steel price index (CSPI) for the Chinese domestic market was at 60.04 points, up 2.44 points or 44.24 percent month on month, while decreasing by 15.02 points or 20.01 percent on year-on-year basis.
At the end of February this year, the CSPI long steel index was at 60.15 points, up 2.40 points or 4.16 percent month on month and decreasing by 14.19 points or 19.09 percent year on year, while the CSPI flat steel index stood at 61.40 points, up 2.88 points or 4.92 percent month on month and declining by 15.48 points or 20.14 percent year on year.
During the month of February 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 increased by RMB 86/mt ($13.23/mt), RMB 99/mt ($15.23/mt), RMB 57/mt ($8.78/mt), RMB 155/mt ($23.85/mt), RMB 138/mt ($21.23/mt), RMB 85/mt ($13.08/mt), RMB 46/mt ($7.08/mt) and RMB 34/mt ($5.23/mt), respectively, all compared to prices in January this year.