Among these 8 price indices, the main ones used for carbon steel are international (global), plate, long rod, North American, European, and Asian indices, as well as indices for stainless steel and pig iron scrap prices.
The formation of the international (global) steel price index is to collect the market transaction prices of five steel products (hot-rolled coil, cold-rolled coil, hot-dip galvanized sheet, deformed steel, and profiles) from 39 steel markets in the Midwest of the United States, Germany, and southern China. Then, the international (global) steel price index is obtained by weighting the consumption shares of these five steel products in the North American, Western European, and Asian markets, The “CRUspi” index is based on the weighted average price of April 1994 and is set at 100, published weekly.
The Steel Home (China) Steel Benchmark Price Index is also compiled by domestic institutions, such as the stainless steel alloy Home (China) Steel Benchmark Price Index, abbreviated as SH_ CSPI (SteelHome China Steel Price Index) is an important component of the Steel Home Benchmark Price Index (SHPI) system. It was carefully designed and established by Mr. Wu Wenwen, the founder of the Steel Home website, and his team based on years of market analysis and research experience. It is based on the registration date of Shanghai Steel Home Information Technology Co., Ltd. (September 28, 2004), On November 1, 2004, the Steel Home website was launched simultaneously and officially released to the public.
The Steel Home (China) Steel Benchmark Price Index (SH-CSPI) is a daily market sample of dozens of steel varieties and material specifications in more than 40 domestic markets. Based on the steel consumption structure and volume of major domestic markets, and relying on the unique database of the Steel Home website, it is compiled using statistical principles and modern data processing technology, The Steel Home (China) Steel Benchmark Price Index (SH-CSPI) also includes the Steel Home (China) Long Rod Price Index (SH-CSPI-L), Steel Home (China) Plate Price Index (SH-CSPI-F), Steel Home (China) Premium Steel Price Index (SH-CSPI-S), and Steel Home (China) Stainless Steel Price Index (SH-CSPI-SS), and provides weekly data on various price indices The year-on-year and month on month changes of monthly and annual averages reflect comprehensively and scientifically the price trends of China’s steel market.