According to the data released by the China Iron and Steel Association (CISA), as of the end of February (February 28) this year, the composite steel price index (CSPI) for the Chinese domestic market was at 107.68 points, up 1.41 points or 1.33 percent month on month, while decreasing by 7.55 points or 6.55 percent on year-on-year basis.
At the end of February, the CSPI long steel index was at 113.43 points, down 1.44 points or 1.29 percent month on month and decreasing by 6.93 points or 5.76 percent year on year, while the CSPI flat steel index stood at 104.02 points, increasing by 1.49 points or 1.45 percent month on month and down 8.55 points or 7.60 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, hot rolled seamless pipe, hot rolled coil (HRC) and cold rolled sheet (CRS) increased by RMB 53/mt ($7.9/mt), RMB 40/mt ($6.0/mt), RMB 59/mt ($8.8/mt), RMB 61/mt ($9.1/mt) and RMB 52/mt ($7.7/mt), while prices of angles, medium plate and hot dip galvanized (HDG) increased by RMB 41/mt ($6.1/mt), RMB 79/mt ($11.8/mt) and RMB 67/mt ($10.0/mt), respectively, all compared to price levels at the end of January.