According to the data released by the China Iron and Steel Association (CISA), as of the end of January (January 31) the composite steel price index (CSPI) for the Chinese domestic market was at 114.74 points, down 7.06 points or 5.8 percent month on month, while increasing by 14.87 points or 14.89 percent on year-on-year basis.
At the end of January, the CSPI long steel index was at 119.64 points, down 9.34 points or 7.24 percent month on month and increasing by 21.31 points or 21.67 percent year on year, while the CSPI flat steel index stood at 112.31 points, decreasing by 5.06 points or 4.31 percent month on month and increasing by 7.74 points or 7.40 percent year on year.
As of the end of January, 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 decreased by RMB 357/mt ($56.2/mt), RMB 351/mt ($55.3/mt), RMB 111/mt ($17.5/mt), RMB 178/mt ($28.1/mt), RMB 210/mt ($33.1/mt), RMB 192/mt ($30.2/mt),RMB 176/mt ($27.7/mt) and RMB 321/mt ($50.6/mt), all compared to price levels at the end of December last year.