According to a new report issued by the China Iron and Steel Association (CISA), as of June 30 this year the composite steel price index (CSPI) for the Chinese domestic market was at 67.83 points, down 19.88 percent compared to the end of April, though up 24.5 percent compared to the end of 2015, reflecting a rebound in domestic finished steel prices in the first half of the current year.
As of April 30 this year, the CSPI had increased to a peak level of 84.66 points, up from 54.48 points at the end of 2015, which in turn was down 34.43 percent compared to the end of 2014. Domestic finished steel prices had decreased for four consecutive years up to the end of 2015.
In the first half of the current year, large and medium-sized steel enterprises in China - all CISA members - registered an operating revenue of RMB 1.29 trillion ($0.19 trillion), down 11.93 percent year on year, with a net profit of RMB 12.587 billion ($1.90 billion), increasing by 427 percent year on year.