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Index Preparation instructions
Common-carbon Steel Index
1. Common-carbon Steel Index is compiled from a weighted basket of steel prices. Compilation of Indices takes into consideration both product-wise and region-wise steel consumption compositions in China.
The product-wise consumption composition is composed of weighted consumption of longs and flats; the region-wise consumption composition consists of weighted steel consumption from 7 regions, i.e. E. China (Shanghai), S. China (Guangzhou), M. S. China (Wuhan), N. China (Beijing), S. W. China (Chongqing), N. E. China (Shenyang) and N. W. China (Xi'an).
2. "Longs" refers to Rebar (20mm, HRB335Mpa) and Common Carbon High-Speed Wire Rod (6.5mm).
"Flats" refers to a combination of 4 steel products, i.e. common carbon steel plate (Q235, 20mm), HRC (SS400, 3.0mm), CR Sheet (SPCC, 1.0mm) and HDG (SPCC, 1.0mm).
3. Common-carbon Steel Indexes are compiled from prevailing transaction prices in Shanghai, Guangzhou, Beijing, Wuhan, Chongqing, Shenyang and Xi'an, each seen as a benchmark market for the region it is located in.
4. July 2000 is designated as the benchmark point with fixed index value of 100. Weekly indices started as of July 2000, while monthly indices can be traced back to January 1997.
5. Transaction prices from which Common-carbon Steel Indexes are compiled are obtained from two sources. Transaction prices dated after July 2000 are collected from Mysteel's daily price database; those dated from January 1997 to June 2000 are sorted out of reliable historical prices.