SunSirs: The Price of Wire Rode Fell Slightly on November 27

On November 27, the national wire rod price fell slightly from November 26, with a drop of 20-40 RMB/ton, and the ex-factory price of steel mills was reduced by about 20 RMB/ton. The mainstream quotations from large manufacturers in the high speed wire rod ranged from 4400-4450 RMB/ton. Prices surged and fell, downstream demand weakened, the overall market sentiment was weak, shipments decreased, and transaction performance was general.

On the supply side, Tangshan billet prices have remained stable today, with a tax-included quotation of 3470 RMB/ton.

In terms of futures, the main contract 2001 of wire rod futures operated at a weak low position, closing at 3972 RMB/ton, down 68 RMB/ton, or 1368% from the settlement price of the previous trading day.

IIn terms of the market, most of the wire rod prices in northern cities are stable or slightly down, while the price of wire rod in southern cities is significantly down. Overall, the price of high-speed wire resources is stable in the morning, and the loose range is about 10 RMB/ton. Some dealers choose not to ship and hold a stable price to wait-and-see. With the continuous decline of futures, dealers are gradually pessimistic, and their prices are further reduced, which is a great burden The decrease range is between 20-40 RMB/ton. With the rapid drop of temperature, the terminal demand gradually weakens. Due to the poor trading of high-level resources in the early stage of rapid expansion, the overall market trading performance is poor, the resource arrival situation is accelerated this week, the price rise caused by the low inventory and the shortage of some specifications gradually falls back, and the supply and demand gradually returns to balance.

On the whole, the prices have fallen back, the downstream demand is weak, and the transaction performance is poor. It is expected that the wire rod price will be in low consolidation operation in the short term.

If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.