According to the data released by the China Iron and Steel Association (CISA), as of the end of January this year (January 31) the composite steel price index (CSPI) for the Chinese domestic market was at 57.60 points, up 1.23 points or 2.18 percent month on month, while decreasing by 19.53 points or 25.32 percent on year-on-year basis.
At the end of January this year, the CSPI long steel index was at 57.75 points, up 0.83 points or 1.46 percent month on month and decreasing by 18.67 points or 24.43 percent year on year, while the CSPI flat steel index stood at 58.52 points, up 1.73 points or 3.05 percent month on month and declining by 19.57 points or 25.06 percent year on year.
During the month of January 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 hot dip galvanized (HDG) increased by RMB 20/mt ($3.06/mt), RMB 40/mt ($6.13/mt), RMB 34/mt ($5.21/mt), RMB 43/mt ($6.58/mt), RMB 51/mt ($7.81/mt), RMB 142/mt ($21.75/mt) and RMB 103/mt ($15.77/mt) respectively, while the price of seamless pipe decreased by RMB 35/mt ($5.36/mt), all compared to prices in December last year.