Yesterday, the national wire rod price was running smoothly compared with last Friday (12/20). The price adjustment range was around $1.43/ ton, and the mainstream quotation of Dachang wire rod was between $553.23-$557.5/ton. Today's decline is slowing down, most of the merchants holding a steady price wait-and-see market attitude and a small number of merchants reducing price, mainly to lower the resources.

On the supply side, on last weekend, Tangshan general billet cumulative quotation is flat. Yesterday afternoon, the factory quotation decrease $2.85/ton to $473.38/ton. As of December 20, the total social inventory of wires rod in China was about 933,300 tons, an increase of 10,900 tons compared with last week. The social inventory was slowly increasing. However, the increment is limited, so there will not be a large gap between supply and demand in the short term. In terms of future goods, yesterday, the main stock of wire rod futures rose rapidly after the opening of 2001 and then ran smoothly. Finally it closed at $604.27/ton, up $3.71/ton from the settlement price of the previous working day. On the market aspect, the demand and supply of wire hod of the national market are stable; generally speaking, more businesses mainly doing the shipment, the overall state of mind is weak. But there are also a small number of businesses morning price will be strong. Afternoon price appears $1.43/ ton price cut loose, the overall market trading atmosphere is general, spot price and merchants winter storage price still exists a certain gap.

From a comprehensive perspective, inventory will grow steadily annd the resources will gradually arrival. Businesses are more pessimistic about the future market. It is expected that the short-term wire rod prices will be weak consolidation operation.

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