According to the data released by the China Iron and Steel Association (CISA), as of the end of July (July 31) this year the composite steel price index (CSPI) for the Chinese domestic market was at 72.09 points, up 4.26 points or 6.28 percent month on month, while increasing by 9.36 points or 14.92 percent on year-on-year basis.
At the end of July, the CSPI long steel index was at 71.55 points, up 5.07 points or 7.63 percent month on month and increasing by 8.09 points or 12.75 percent year on year, while the CSPI flat steel index stood at 74.55 points, up 3.43 points or 4.82 percent month on month and increasing by 12.20 points or 19.57 percent year on year.
As of the end of July 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) and seamless pipe increased by RMB 147/mt ($22.17/mt), RMB 210/mt ($31.67/mt), RMB 107/mt ($16.14/mt), RMB 176/mt ($26.55/mt), RMB 129/mt ($19.46/mt), RMB 161/mt ($24.28/mt) and RMB 49/mt ($7.39/mt), while the price of hot dip galvanized (HDG) declined by RMB 21/mt ($3.17/mt), all compared to price levels at the end of June of the current year.