According to the data released by the China Iron and Steel Association (CISA), as of the end of May (May 31) this year the composite steel price index (CSPI) for the Chinese domestic market was at 99.27 points, up 6.63 points or 7.16 percent month on month, while increasing by 29.30 points or 41.88 percent on year-on-year basis.
At the end of May, the CSPI long steel index was at 108.39 points, up 9.91 points or 10.06 percent month on month and increasing by 40.19 points or 58.93 percent year on year, while the CSPI flat steel index stood at 93.16 points, up 4.19 points or 4.71 percent month on month and increasing by 19.65 points or 26.73 percent year on year.
As of the end of May 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 hot rolled seamless pipe increased by RMB 340/mt ($50/mt), RMB 415/mt ($61.03/mt), RMB 275/mt ($40.44/mt), RMB 172/mt ($25.29/mt), RMB 195/mt ($28.68/mt), RMB 89/mt ($13.09/mt), RMB 152/mt ($22.35/mt) and RMB 35/mt ($5.15/mt), all compared to price levels at the end of April of the current year.