China Iron and Steel Association: Domestic steel prices stabilized in August after declining.

Zhitong Finance APP has learned that the China Iron and Steel Association stated in a release that in August, the domestic steel market stabilized after declines and then rose, generally trending upward, against the backdrop of gradually rising expectations for a seasonal recovery in demand, weakened cost support, and some easing of inventory pressure. Entering September, the traditional "Golden September" did not arrive as expected, and domestic steel market prices have been operating in a narrow range. According to monitoring by the Iron and Steel Association, in August, the average CSPI was 91.10 points, down 0.65 points month-on-month, a decline of 0.71%; and down 3.72 points year-on-year, a decline of 3.92%. Among this, the average CSPI long product index was 91.58 points, down 1.01 points month-on-month, a decline of 1.09%; and down 4.59 points year-on-year, a decline of 4.77%. The average flat product index was 90.15 points, down 0.45 points month-on-month, a decline of 0.49%; and down 3.45 points year-on-year, a decline of 3.69%.