On March 20th, the benchmark price of wire rod for SunSirs was 4486.00 RMB/ton, an increase of 0.72% compared to the beginning of this month (4454.00 RMB/ton).

This week, the weekly production of wire rod increased, and the total inventory of wire rod decreased. Upstream, the coke market is stable; Port iron ore weakened due to shocks; The scrap steel market weakened and fell, increasing the decline. In the first half of this week, due to the increase in square billet prices over the weekend, wire rod prices rose with each other. In the second half of this week, due to foreign macroeconomic influences, domestic black color significantly decreased, and the spot price decline expanded. The domestic supply and demand side is acceptable, the profits of steel mills are gradually recovering, and inventory is still mainly removed from inventory. Generally speaking, the basic level of wire rod is acceptable, mainly affected by foreign macro factors, and it is expected that the wire rod price fluctuation will be mainly strong and the operation trend will be dominated.

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