SunSirs: The Price of Wire Rod Rose Sharply on November 25
November 26 2019 10:56:35 SunSirs (John)
Price trend
According to the data monitoring of SunSirs, On November 25, the national wire rod price rose sharply from last Friday, with the price increase between 20-50 RMB/ton, and the ex-factory price of steel mills increased by 30-80 RMB/ton. The mainstream quotations from high-scale companies in the high line range from 4450-4500 RMB/ton. On the whole, the market attitude is more positive, the dealers are bullish, and the transaction performance is good.
Analysis review
On the supply side, Tangshan's billet quotations remained flat during the weekend and the transaction was average. Today, Tangshan's general billet prices have risen by 30 RMB, and the price has been reported at 3480 RMB/ton including tax. As of November 22, the total social stock of wire rods in the country was 1.0225 million tons, which was a decrease of 154,700 tons from last week. The social stock of wire rods has steadily decreased, and the inventory is at a low level.
In terms of futures, today's main wire futures contract 2001 fluctuated at a high level, which was 46 RMB/ton higher than the settlement price of the previous trading day and closed at 4115 RMB/ton, an increase of 1.13%.
In terms of the market, today's steel resources are arriving one after another, and the situation of whether there is a price or no market has been alleviated. However, the lack of some specifications still exists. The merchants are optimistic. The price increase is about 40 RMB/ton, and the overall transaction performance is calmer than last week.
Market outlook
On the whole, high-level operation of wire rod futures, positive attitude of merchants, Wire Rod prices are expected to fluctuate in the short term.
If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.
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