According to the data released by the China Iron and Steel Association (CISA), as of the end of October (October 31) the composite steel price index (CSPI) for the Chinese domestic market was at 59.44 points, down 1.75 points or 2.86 percent month on month, while decreasing by 26.96 points or 31.20 percent on year-on-year basis.
At the end of October, the CSPI long steel index was at 61.21 points, down 1.42 points or 2.27 percent month on month and decreasing by 26.15 points or 29.93 percent year on year, while the CSPI flat steel index stood at 58.20 points, down 2.10 points or 3.48 percent month on month and declining by 28.81 points or 33.11 percent year on year.
During the month of October, among the eight main steel products monitored by the CISA, prices of high-speed wire rod, rebar, medium plate, hot rolled coil (HRC), cold rolled sheet (CRS), hot dip galvanized (HDG), angles and seamless pipe decreased by RMB 63/mt ($9.88/mt), RMB 23/mt ($3.61/mt), RMB 45/mt ($7.07/mt) and RMB 77/mt ($12.07/mt), RMB 97/mt ($15.21/mt), RMB 109/mt ($17.09/mt), RMB 68/mt ($10.66/mt) and RMB 86/mt ($13.49/mt), respectively.