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 106.22 points, up 6.35 points or 6.36 percent month on month, while increasing by 46.18 points or 76.92 percent on year-on-year basis.
At the end of February, the CSPI long steel index was at 108.35 points, up 10.02 points or 10.19 percent month on month and increasing by 48.2 points or 80.13 percent year on year, while the CSPI flat steel index stood at 107.54 points, up 2.97 points or 2.84 percent month on month and increasing by 46.14 points or 75.15 percent year on year.
As of the end of February this year, among the eight main steel products monitored by the CISA, prices of wire rod, rebar, angles, cold rolled sheet (CRS), medium plate, hot rolled coil (HRC), hot dip galvanized (HDG) and seamless pipe increased by RMB 374/mt ($54.2/mt), RMB 399/mt ($57.83/mt), RMB 308/mt ($44.64/mt), RMB 97/mt ($14.06/mt), RMB 202/mt ($29.28/mt), RMB 86/mt ($12.46/mt), RMB 92/mt ($13.33/mt) and RMB 184/mt ($26.67/mt), respectively, all compared to price levels at the end of January of current year.