According to data released by the
China Iron and Steel Association (CISA) on October 22, as of the end of September (September 30) the composite steel price index (CSPI) for the Chinese domestic market was at 86.35 points, down 4.28 points or 4.72 percent month on month and down 14.22 points or 14.14 percent year on year.
At the end of September, the CSPI long steel index was at 85.98 points, down 5.26 points or 5.77 percent month on month and decreasing by 16.87 points or 16.40 percent year on year, while the CSPI flat steel index stood at 88.28 points, down 3.63 points or 3.95 percent month on month and declining by 11.67 points or 11.68 percent year on year.
During September, all the eight main steel products monitored by the CISA indicated a downward movement. In particular, during the month of September prices of 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 196/mt ($31.9/mt), RMB 211/mt ($43.4/mt), RMB 131/mt ($21.3/mt), RMB 146/mt ($23.8/mt), RMB 171/mt ($27.9/mt), RMB 80/mt ($13.1/mt) and RMB 72/mt ($11.7/mt) and RMB 116/mt ($18.9/mt), respectively.
During September, the CSPI indicated an overall declining trend from the first week of the month. As of the end of the second week of October, the CSPI has dropped to 86.01 points, its lowest level since January 2003.