SunSirs: The Price of Wire Rod Increased Steadily on November 21

On November 21, the price of wire rod across the country increased slightly compared with that of last day, with an increase of about 30 RMB/ton. The mainstream price of high-speed wire rod in large factories was between 4450-4500 RMB/ton. Today, the price of high-speed wire rod rose first and then fell. The market has a strong wait-and-see mentality, and the overall transaction performance was flat.

In terms of supply, the price of ordinary steel billets in Tangshan is stable today, including the tax price of 3450 RMB/ton. As of November 21, the total social inventory of high-speed line in China is 1022500 tons, which is 15.47% lower than that of the previous week, and about 158000 tons. Today, Shagang and Yonggang steel plant respectively issued the price adjustment policies for building materials in the second half of November. The high-speed line is increased by 150 RMB/ton and 300 RMB/ton respectively, and the prices of large factories are still rising. In terms of futures, the main force of high line fell in 2001, closing at 4012 RMB/ton, down 75 RMB/ton from the previous work settlement day.

In terms of market, after several price hikes, the price has reached a high level, and there is a risk accumulation. Today's high-speed wire market price is stable in the morning. With the increase in the decline of high-speed wire futures, market sentiment turns weak, and businesses mainly focus on shipping. However, due to the low inventory and the shortage of resources, the price still has some support, and the decline is limited.

Generally speaking, after the rapid rise in recent period, the high-speed line price reached a high point, and the market has a strong wait-and-see mood; in the off-season, the downstream demand release is limited, and the transaction tends to be flat. Before the resources are not replenished in time, the high-speed line price will be consolidated and operated in a short period of time.

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