According to data released by the China Iron and Steel Association (CISA) on July 22, as of the end of June (June 30) the composite steel price index (CSPI) for the Chinese domestic market was at 66.69 points, down 3.63 points or 5.16 percent month on month, with the decline 1.24 percentage points larger than that recorded in May, while the index in June decreased by 26.3 points or 28.28 percent on year-on-year basis.
At the end of June, the CSPI long steel index was at 66.50 points, down 4.08 points or 5.78 percent month on month and decreasing by 27.54 points or 29.29 percent year on year, while the CSPI flat steel index stood at 67.32 points, down 3.46 points or 4.89 percent month on month and declining by 27.12 points or 28.72 percent year on year.
During June, 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 152/mt ($24.52/mt), RMB 178/mt ($28.71/mt), RMB 119/mt ($19.19/mt), RMB 196/mt ($31.611/mt), RMB 136/mt ($21.94/mt), RMB 103/mt ($16.61/mt), RMB 134/mt ($21.61/mt) and RMB 60/mt ($9.68/mt).
In June, the CSPI indicated a gradual declining trend, while it has moved down further in the first three weeks of July. As of the end of the third week of July, the CSPI has dropped to 62.89 points.