According to the data released by the China Iron and Steel Association (CISA), as of the end of January (January 31) this year the composite steel price index (CSPI) for the Chinese domestic market was at 99.87 points, up 0.36 points or 0.36 percent month on month, while increasing by 42.27 points or 73.39 percent on year-on-year basis.
At the end of January, the CSPI long steel index was at 98.33 points, up 0.73 points or 0.75 percent month on month and increasing by 40.58 points or 70.27 percent year on year, while the CSPI flat steel index stood at 104.57 points, down 0.03 points or 0.03 percent month on month and increasing by 46.05 points or 78.69 percent year on year.
As of the end of January this year, among the eight main steel products monitored by the CISA, prices of high-speed wire rod, rebar, angles and cold rolled sheet (CRS) increased by RMB 51/mt ($7.43/mt), RMB 48/mt ($7/mt), RMB 24/mt ($3.5/mt) and RMB 25/mt ($3.64/mt), while the price of medium plate, hot rolled coil (HRC), hot dip galvanized (HDG) and seamless pipe declined by RMB 21/mt ($3.06/mt), RMB 2/mt ($0.29/mt), RMB 2/mt ($0.29/mt) and RMB 29/mt ($4.23/mt), all compared to price levels at the end of December of last year.