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SunSirs: Wire Rod Prices Fell Slightly on June 16

June 17 2021 14:28:13     SunSirs (John)

Price trend

On the 16th, wire rod prices fell slightly. According to statistics from SunSirs, Jiangsu, Zhejiang and Shanghai wire rods reported at 5,514 RMB/ton, a slight decrease of 0.43% from the previous trading day, a year-on-year increase of 48.49%, and an increase of 19.87% from the beginning of the year.

Analysis review

The price of wire rods fell weakly, and the quotations of Ф6.5-10mm high-line wires in Jiujiang and Beitai were 5,220-5,260 RMB/ton.

Demand has not yet started after the holiday. The rainy season has recently entered, and the rainy weather has concentrated. In recent days, there have been few inquiring calls. The overall transaction atmosphere has been weak and terminal demand has been blocked. However, the digestion of local inventory was slow. With the gradual accumulation of resources, traders were more worried about the market outlook, and merchants were dominated by the mentality of lowering prices to ship.

Market outlook

In summary, coupled with the decline in the wire rod futures market, the price of wire rod stocks may still be lowered in the short term.

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