According to the data released by the China Iron and Steel Association (CISA), as of the end of February (February 28) the composite steel price index (CSPI) for the Chinese domestic market was at 115.23 points, up 0.49 points or 0.43 percent month on month, while increasing by 9.01 points or 8.48 percent on year-on-year basis.
At the end of February, the CSPI long steel index was at 120.36 points, up 0.72 points or 0.60 percent month on month and increasing by 12.01 points or 11.08 percent year on year, while the CSPI flat steel index stood at 112.57 points, increasing by 0.26 points or 0.23 percent month on month and up 5.03 points or 4.68 percent year on year.
As of the end of February, among the eight main steel products monitored by the CISA, prices of high-speed wire rod, rebar, angles, medium plate, hot rolled coil (HRC) and hot dip galvanized (HDG) increased by RMB 23/mt ($3.6/mt), RMB 26/mt ($4.1/mt), RMB 8/mt ($1.3/mt), RMB 41/mt ($6.5/mt), RMB 16/mt ($2.5/mt) and RMB 3/mt ($0.5/mt), all compared to price levels at the end of January this year. Meanwhile, prices of cold rolled sheet (CRS) and hot rolled seamless pipe decreased by RMB 14/mt and RMB 23/mt, compared to price levels at the end of January.