Source from Metallurgical Price Information Center, China Petroleum Industry Association Financial Assets Department
In August, the growth rate of the downstream steel industry slowed down. Due to the increase in steel production and the escalation of Sino-US trade friction, steel prices fell. In September, as the price of raw fuels rose, steel prices rebounded and are expected to show a slight fluctuation in the later period.
Steel Prices Fell From Rising
At the end of August, China Steel Industry Association CSPI China steel price index was 104.75 points, down 4.75 points, a decrease of 4.34%; a year-on-year decrease of 17.24 points, a decrease of 14.13%. (see picture 1)
From the full moon situation, in August, the average CSPI China steel price index was 108.89 points, down 6.13 points from the July average, a decrease of 5.33%.
Both long products and steel plate prices have fallen, and long product prices have fallen more than plates. At the end of August, the CSPI long product index was 109.06 points, down 7.11 points month-on-month, down 6.12%; the sheet index was 102.04 points, down 3.18 points month on month, a decrease of 3.02%; the price of long products fell 3.1 percentage points over the board. Compared with the same period of last year, at the end of August, the CSPI long product index fell by 20.23 points, a decrease of 15.65%; the plate index fell by 15.45 points, a decrease of 13.15%. (See Figure 2, Table 1)
Changes in the prices of major steel products. At the end of August, among the eight major steel products monitored by the Steel Association, the prices of cold-rolled sheet and hot-rolled seamless steel pipe continued to rise, up by RMB 4/ton and RMB 81/ton respectively; the prices of high-line, angle steel and galvanized sheet were upgraded. The decrease was 289 yuan/ton, 82 yuan/ton and 51 yuan/ton respectively; the prices of rebar, plate and hot-rolled coil continued to decline, down 312 yuan/ton, 148 yuan/ton and 162 yuan respectively. /Ton. (See Table 2)
Changes in the steel price index for each week. In August, the CSPI domestic steel price index fell for four consecutive weeks. In September, steel prices rebounded slightly for two consecutive weeks. (See Table 3)
Changes in steel prices in major regional markets. According to the steel association monitoring, in August, CSPI nationwide six regional market price indices have declined. Among them, North China and Northeast China decreased from up to 4.29% and 5.60% respectively; East China, Central South, Southwest China and Northwest China continued to decline, and the decline decreased from the previous month, down by 4.34%, 3.84% and 3.36% respectively. And 4.31%. (See Table 4)
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