According to data released by the China Iron and Steel Association (CISA) on April 16, as of the end of March (March 31) the composite steel price index (CSPI) for the Chinese domestic market was at 75.43 points, up 0.37 points or 0.49 percent month on month, compared to a month-on-month decline of 2.68 percent in February, while the index in March decreased by 19.40 points or 20.46 percent on year-on-year basis.
At the end of March, the CSPI long steel index was at 76.03 points, up 1.69 points or 2.27 percent month on month and decreasing by 20.72 points or 21.42 percent year on year, while the CSPI flat steel index stood at 75.95 points, down 0.93 points or 1.21 percent month on month and declining by 19.31 points or 20.27 percent year on year.
During March, among the eight main steel products monitored by the CISA, prices of high-speed wire rod, rebar and medium plate indicated increases of RMB 90/mt ($14.5/mt), RMB 112/mt ($18.1/mt) and RMB 6/mt ($0.97/mt). During the month of March, prices of cold rolled sheet (CRS), hot dip galvanized (HDG), seamless pipe, angles and hot rolled coil (HRC) indicated decreases of RMB 170/mt ($27.4/mt), RMB 113/mt ($18.2/mt), RMB 83/mt ($13.4/mt), RMB 39/mt ($6.3/mt) and RMB 62/mt ($10.0/mt).
In March, the CSPI indicated a declining trend in the first two weeks, while it moved on a slight uptrend in the second half of March, moved down again in the first two weeks of April. As of the end of the second week of April, the CSPI has dropped to 74.27 points.