Improving the Monitoring System of Steel Price Index for Western Thread Steel

The website of China Iron and Steel Industry Association (hereinafter referred to as "China Steel Association") shows that in order to further improve the CSPI China Steel Price Index Monitoring System and Price Information Service, the China Steel Price Index Symposium and the Western (Shaanxi, Shanxi, Sichuan and Gansu Forum) Threaded Steel Price Index Conference sponsored by China Iron and Steel Industry Association were held before.

At the meeting, the participants exchanged and discussed the operation of the iron and steel industry, the role played by China's steel price index, the further improvement of price index monitoring system, the improvement of price index submission, and the improvement of the application level of price index. China Steel Price Index Western (Shaanxi, Shanxi, Sichuan and Gansu Forum) Thread Steel Price Index was officially released. Qu Xiuli, vice president of China Steel Association, said that keeping prices relatively stable was the common wish of the industry. She mentioned that in order to fully, accurately and timely reflect the trend of steel prices in the domestic market and promote the smooth operation of the industry, SISCO has carried out research, compilation, publication and analysis of China's steel price index since 2001. At present, China's steel price index has played an important role in stabilizing market expectations, strengthening industry self-discipline, tapping potential for tenders and maintaining fair competition market order, and has become an important basis for trade settlement, production and operation analysis and performance evaluation.

Qu Xiuli said that the next step would be to seize the following key tasks: first, to further improve the monitoring system of China's steel price index, and to work hard on the timeliness and accuracy of the price index. Secondly, we should strengthen the construction of the organizational system, establish a team of experts on China's steel price index on the basis of improving the management of the team of informants, and pool our wisdom to ensure that China's steel price index has authority and international influence. Third, we should further strengthen the analysis of price indices. Strengthen the research on trends and regularities, especially the impact of macro-policy adjustment, capital market changes, international trade frictions and Geopolitics on price trends and price transmission mechanism, and put forward policy recommendations. Fourthly, do a good job of in-depth research on price changes, relying on China's steel price index, and give full play to the advantages of big data, so as to better serve the stable operation of the industry and the analysis of market changes. Fifth, give full play to the role of metallurgical price branch of China Price Association, seriously carry out theoretical research and practical problem research, put forward system solutions, and maintain the stable operation of the industry. Liu Lixue, Director of Finance Office of the SASASAC Organs Service Administration Bureau under the State Council, said that, as a project supported by the SASASAC price index funds, SISCO had done a lot of work in strengthening the basic work of steel price index, improving the monitoring system of price index, and improving the ability of serving the government and enterprises.

He said that China's steel price index has increasingly become an authoritative indicator reflecting the changing trend of domestic steel market prices, playing an increasingly important role in reflecting market changes, serving the government and enterprises, maintaining fair market competition order and the safety of the steel industry, and has become a national Ministry and a social sector. Understanding the important indicators of the economic operation of the industry provides an important basis for the state to strengthen and improve macro-control, promote the healthy development of the industry, and guide the decision-making of enterprise production and operation.

He hoped that the following tasks should be carried out in the later stage: First, the research work on steel price index should be strengthened to provide reference for the national ministries and commissions to formulate macro-control policies. Secondly, we should intensify the work of price matching to help enterprises restructure and upgrade. Third, we should strengthen the management of the use of funds and rationally arrange project expenditures.