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 111.1 points, down 1.57 points or 1.39 percent month on month, while decreasing by 3.19 points or 2.79 percent on year-on-year basis.
At the end of May, the CSPI long steel index was at 117.85 points, down 1.59 points or 1.16 percent month on month and increasing by 0.01 point or 0.01 percent year on year, while the CSPI flat steel index stood at 106.98 points, decreasing by 1.74 points or 1.60 percent month on month and down 6.05 points or 5.35 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, medium plate, hot rolled coil (HRC), cold rolled sheet (CRS), hot dip galvanized (HDG), angles and hot rolled seamless pipe decreased by RMB 34/mt ($4.9/mt), RMB 76/mt ($11.0/mt), RMB 60/mt ($8.7/mt), RMB 77/mt ($11.2/mt), RMB 131/mt ($19.0/mt), RMB 17/mt ($2.5/mt), RMB 12/mt ($1.7/mt) and RMB 77/mt ($11.2/mt), respectively, all compared to price levels at the end of April.