According to data released by the
China Iron and Steel Association (CISA) on May 15, as of the end of April (April 30) the composite steel price index (CSPI) for the Chinese domestic market was at 95.97 points, up 1.14 points or 1.20 percent month on month and down 9.78 points or 9.25 percent year on year. In April, the index indicated its first month-on-month rise after seven consecutive months of decline on month-on-month basis.
At the end of April, the CSPI long steel index was at 98.19 points, up 1.44 points or 1.49 percent month on month and down 9.65 points or 8.95 percent year on year, while the CSPI flat steel index stood at 96.23 points, up 0.97 points or 1.02 percent month on month and down 9.35 points or 8.86 percent year on year.
During April, among the eight main steel products monitored by the CISA, long steel products and hot rolled plates switched from a decline to upward movement as compared to March, while cold rolled sheet indicated a larger decrease than in March. In addition, hot dip galvanized (HDG) and hot rolled seamless pipe continued their downward movement, though with smaller declines compared to March. In particular, in April prices of wire rod, rebar, angle, medium plates and hot rolled coil in the Chinese domestic market indicated rises of RMB 82/mt ($13.4/mt), RMB 59/mt ($9.6/mt), RMB 11/mt ($1.8/mt), RMB 54/mt ($8.8/mt) and RMB 62/mt ($10.1/mt), while prices of cold rolled sheet (CRS), HDG and seamless pipe were down RMB 59/mt($9.6/mt), RMB 15/mt ($2.5/mt) and RMB 15/mt ($2.5/mt), respectively, as compared to March.
In particular, the CSPI indicated a slight rebound during the first three weeks of April, but entered a downtrend again in the fourth week of the month, with a slight downward movement continuing in the first half of May.