According to data released by the China Iron and Steel Association (CISA) on August 15, as of the end of July (July 31), the composite steel price index (CSPI) for the Chinese domestic market was at 100.48 points, up 1.96 points or 1.99 percent month on month, down 7.60 points or 7.03 percent year on year. Although Chinese steel prices increased slightly in July as compared to June, they still remained at relatively low levels.
In particular, as of the end of July the CSPI for long products and slab in China stood at 102.45 points and 100.21 points, up 2.58 percent and 1.78 percent month on month respectively, but down 7.81 percent and 5.08 percent year on year.
In addition, as of the end of July finished steel inventory in China amounted to 14.21 million mt, down 8.09 percent on month-on-month basis and indicating a decrease of 7.58 percent year on year.