According to the data released by the China Iron and Steel Association (CISA), as of the end of May (May 31) the composite steel price index (CSPI) for the Chinese domestic market was at 114.29 points, up 1.45 points or 1.29 percent month on month, while increasing by 15.02 points or 15.13 percent on year-on-year basis.
At the end of May, the CSPI long steel index was at 117.84 points, up 1.45 points or 1.25 percent month on month and increasing by 9.45 points or 8.72 percent year on year, while the CSPI flat steel index stood at 113.03 points, increasing by 1.72 points or 1.55 percent month on month and up 19.87 points or 21.33 percent year on year.
As of the end of May, among the eight main steel products monitored by the CISA, prices of high-speed wire rod, rebar, angles, medium plate, hot rolled coil (HRC), cold rolled sheet (CRS) and hot dip galvanized (HDG) increased by RMB 64/mt ($9.95/mt), RMB 58/mt ($9.02/mt), RMB 2/mt ($0.3/mt), RMB 101/mt ($15.7/mt), RMB 94/mt ($14.6/mt), RMB 22/mt ($3.42/mt) and RMB 29/mt ($4.5/mt), while prices of hot rolled seamless pipe decreased by RMB 14/mt ($2.18/mt), all compared to price levels at the end of April this year.