According to the data released by the China Iron and Steel Association (CISA), as of the end of August (August 31) the composite steel price index (CSPI) for the Chinese domestic market was at 121.99 points, up 5.41 points or 4.64 percent month on month, while increasing by 6.69 points or 5.8 percent on year-on-year basis.
At the end of August, the CSPI long steel index was at 129.29 points, up 7.34 points or 6.02 percent month on month and increasing by 8.33 points or 6.89 percent year on year, while the CSPI flat steel index stood at 117.49 points, increasing by 3.24 points or 2.84 percent month on month and up 5.85 points or 5.24 percent year on year.
As of the end of August, among the eight main steel products monitored by the CISA, prices of high-speed wire rod, rebar and angles increased by RMB 269/mt ($39.0/mt), RMB 277/mt ($40.2/mt), and RMB 256/mt ($37.2/mt), while prices of medium plate, hot rolled coil (HRC), cold rolled sheet (CRS), hot dip galvanized (HDG) and hot rolled seamless pipe decreased by RMB 133/mt ($19.3/mt), RMB 118/mt ($17.1/mt), RMB 165/mt ($23.9/mt), RMB 99/mt ($14.4/mt) and RMB 189/mt ($27.4/mt), respectively, all compared to price levels at the end of July this year.