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CSPI China Steel Price Index Weekly Report

In the week from January 2 to January 5, 2024, the domestic steel price index continued to rise slightly, with both the long product price index and the plate price index rising.
That week, the China Steel Price Index (CSPI) was 113.56 points, a week-on-week increase of 0.66 points, or 0.59%; an increase of 0.66 points, or 0.58%, from the end of December 2023; a year-on-year decrease of 0.37 points, or a decrease of 0.32%. Among them, the long product price index was 116.88 points, up 0.77 points or 0.66% week-on-week; up 0.77 points or 0.66% from the end of December 2023; down 3.07 points or 2.56% year-on-year. The plate price index was 112.44 points, a week-on-week increase of 0.64 points, or 0.57%; an increase of 0.64 points, or 0.57%, from the end of December 2023; a year-on-year decrease of 0.67 points, or 0.59%.
In terms of regions, the CSPI steel price index in the six major regions across the country all increased week-on-week. The region with the largest increase was the Central and Southern Region, and the region with the smallest increase was the Northeastern region. Among them, the steel price index in North China was 111.43 points, a week-on-week increase of 0.75 points, or 0.68%; an increase of 0.75 points, or 0.68%, from the end of December 2023. The steel price index in Northeast China was 111.03 points, a week-on-week increase of 0.39 points, or 0.37%; an increase of 0.39 points, or 0.37%, from the end of December 2023. The steel price index in East China was 115.24 points, a week-on-week increase of 0.61 points, or 0.53%; an increase of 0.61 points, or 0.53%, from the end of December 2023. The steel price index in Central and South China was 116.38 points, a week-on-week increase of 0.94 points, or 0.82%; an increase of 0.94 points, or 0.82%, from the end of December 2023. The steel price index in Southwest China was 113.91 points, a week-on-week increase of 0.54 points, or 0.47%; an increase of 0.54 points, or 0.47%, from the end of December 2023. The steel price index in the northwest region was 114.01 points, a week-on-week increase of 0.49 points, or 0.43%; an increase of 0.49 points, or 0.43%, from the end of December 2023.
In terms of varieties, the prices of the eight major steel products have all increased compared with the end of December 2023. The variety with the largest increase is high-line, and the variety with the smallest increase is galvanized sheet. Among them, the price index of 6 mm diameter high wire is 121.28 points, an increase of 0.86% from the end of December 2023; the price index of 16 mm diameter rebar is 112.80 points, an increase of 0.57% from the end of December 2023; the price index of 5# angle steel is 116.79 points , an increase of 0.70% from the end of December 2023; the price index of 20 mm medium and thick plates is 115.58 points, an increase of 0.49% from the end of December 2023; the price index of 3 mm hot rolled coils is 109.98 points, an increase of 0.85% from the end of December 2023 ; The price index of 1 mm cold-rolled sheet is 102.80 points, an increase of 0.31% from the end of December 2023; the price index of 1 mm galvanized sheet is 104.86 points, an increase of 0.17% from the end of December 2023; the diameter of 219 mm × 10 mm hot-rolled steel sheet The price index of seamed pipes was 96.34 points, an increase of 0.44% from the end of December 2023.
From the cost side, data from the General Administration of Customs shows that in November 2023, the average price of imported iron ore was US$117.16/ton, an increase of US$4.23/ton, or 3.75%, from the average price in October 2023. That week, the price of iron concentrate in the domestic market was 1,139 yuan/ton, an increase of 29 yuan/ton, or 2.61%, from the end of December 2023; a year-on-year increase of 199 yuan/ton, or 21.17%. The price of coking coal (grade 10) is 2,543 yuan/ton, a decrease of 50 yuan/ton, or 1.93%, from the end of December 2023; a year-on-year decrease of 30 yuan/ton, or a decrease of 1.17%. The price of coke is 2,392 yuan/ton, a decrease of 62 yuan/ton from the end of December 2023, a decrease of 2.53%; a year-on-year decrease of 418 yuan/ton, a decrease of 14.88%. The scrap steel price is 3,025 yuan/ton, an increase of 36 yuan/ton, or 1.20%, from the end of December 2023; a year-on-year decrease of 168 yuan/ton, or 5.26%.
From the perspective of the international market, in December 2023, the CRU International Steel Price Index was 218.7 points, an increase of 14.5 points or 7.1% month-on-month, and a month-on-month rebound for 2 consecutive months; an increase of 13.5 points or 6.6% from the end of 2023; year-on-year It rose 13.5 points, or 6.6%. Among them, the CRU long product price index was 213.8 points, an increase of 4.7 points or 2.2% month-on-month; a year-on-year decrease of 20.6 points or 8.8%. The CRU plate price index was 221.1 points, a month-on-month increase of 19.3 points, or 9.6%; a year-on-year increase of 30.3 points, or 15.9%. In terms of regions, in December 2023, the price index in North America was 270.3 points, an increase of 28.6 points or 11.8% from the previous month; the price index in Europe was 228.9 points, an increase of 12.8 points from the previous month or 5.9%; the price index in Asia was 228.9 points, an increase of 12.8 points from the previous month or 5.9%; It was 182.7 points, an increase of 7.1 points or 4.0% month-on-month.
That week, domestic steel market prices continued to rise, with prices of major varieties rising slightly compared with the previous week; iron ore prices continued to break upward, and coking coal and coke prices stabilized. As winter storage approaches and coupled with policy expectations, steel prices are expected to continue to fluctuate strongly in the short term.

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