As China Iron and Steel Association (CISA) reported in monthly market analysis on September 20, demand in China is likely to keep increasing. However, because of mills' high production, softening international market demand and difficulties in export, oversupply problem will continue and steel price will keep fluctuating.
According to the data released by CISA, in the first eight months of this year, China imported 448 million mt, up 37.5 percent year on year.
In addition, CISA announced that as of the end of August, China Steel Price Index (CSPI) settled at 135.23 point, up 14.72 percent year on year, up 0.44 percent month on month. Accordingly, CSPI long steel index settled at 143.37 point, up 18.55 percent year on year, up 0.66 percent month on month; flat steel 130.35 point, up 11.80 percent year on year, up 0.42 percent month on month