According to the data released by the China Iron and Steel Association (CISA), as of the end of November (November 30) the composite steel price index (CSPI) for the Chinese domestic market was at 106.39 points, down 15.33 points or 12.59 percent month on month, while decreasing by 12.27 points or 10.34 percent on year-on-year basis.
At the end of November, the CSPI long steel index was at 113.98 points, down 17.95 points or 13.61 percent month on month and decreasing by 10.91 points or 8.74 percent year on year, while the CSPI flat steel index stood at 101.02 points, decreasing by 13.57 points or 11.84 percent month on month and down 13.52 points or 11.80 percent year on year.
As of the end of November, among the eight main steel products monitored by the CISA, prices of high-speed wire rod, rebar and angles decreased by RMB 684/mt ($98.6/mt), RMB 686/mt ($98.8/mt) and RMB 486/mt ($70.1/mt), while prices of medium plate, hot rolled coil (HRC), cold rolled sheet (CRS), hot dip galvanized (HDG) and hot rolled seamless pipe decreased by RMB 563/mt ($81.1/mt), RMB 580/mt ($83.6/mt), RMB 524/mt ($75.5/mt), RMB 415/mt ($59.8/mt) and RMB 473/mt ($68.2/mt), respectively, all compared to price levels at the end of October this year.