According to data released by the China Iron and Steel Association (CISA) on May 18, as of the end of April (April 30) the composite steel price index (CSPI) for the Chinese domestic market was at 73.19 points, down 2.24 points or 2.97 percent month on month, compared to a month-on-month rise of 0.49 percent in March, while the index in April decreased by 22.78 points or 23.74 percent on year-on-year basis.
At the end of April, the CSPI long steel index was at 73.88 points, down 2.15 points or 2.83 percent month on month and decreasing by 24.31 points or 24.76 percent year on year, while the CSPI flat steel index stood at 73.38 points, down 2.57points or 3.38 percent month on month and declining by 22.85 points or 23.75 percent year on year.
During April, 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 indicated decreases of RMB 56/mt ($9.03/mt), RMB 112/mt ($18.1/mt), RMB 25/mt ($4.03/mt), RMB 62/mt ($10.0/mt), RMB 74/mt ($11.9/mt), RMB 175/mt ($28.2/mt), RMB 138/mt ($22.3/mt) and RMB 124/mt ($20.0/mt).
In April, the CSPI indicated a gradual declining trend, while it moved down further in the first two weeks of May. As of the end of the second week of May, the CSPI has dropped to 72.13 points.