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the wire rod price on Nov.12th

              If you want strong steel market had long way to go in November

Since mid-October, the government in order to ensure a good environment during the APEC meeting, the implementation

of a strong environmental measures, so that the majority of steel production, limited production or even stop, until the 

arrival of decreased market,goods less reluctant to sell the business mentality strengthened, coupled with steel force, 

significantly raise prices,lower costs,driven by rising steel prices; finite natural seasonal demand, since the end of 

October,according to data of construction steel, construction steel has been mixed, lack of upward momentum, 

downstream Afterward,the business mentality tangled, and I believe that, in the case of steel price quite obvious,

is expected to remain short-term price correction operation.

Recent domestic construction steel market factors, mainly in the following areas:

A: production aspects, CISA latest data show that in late October the focus of average daily crude steel production

of steel prices continue to decline, the actual average daily production was 1.705 million tons, the output decline 

has expanded,combined as a whole, is still yielding an indisputable fact; the other data show that the end of the 

key steel enterprises in late October inventory of 14.143 million tons, compared with the previous ten days late fell 

1.513 million tons, a decline of 9.66%, although the social stock has been declining, and then take into account 

the needs of the amount of release slow,destocking pressure is still large.


II: steel mills, since mid-October, the regional leading steel prices over the main tune, where the east, south and 

southwest China steel price increases are more frequent but much larger magnitude Pobai. Mills frequently raised, 

the cost of supporting the shift ends, steel "gone", market outlook, business confidence has been firmer, but on 

the other hand due to raise steel prices, steel profits rise, firms and more profitable, steel up yield has increased,

some initial shutdowns of mills are ready to resume production, in addition to a close with the APEC meeting, 

Beijing, Tianjin and other regions mills will resume normal production, the contradiction between supply and 

demand can be expected late still inhibit the steel city better.


Three: macro level, according to the NDRC official website announcement today, the NDRC approved a total 

of seven railway construction projects with a total investment of 199.86 billion yuan. According to incomplete 

statistics, since early October so far,since October 1 date, the Development and Reform Commission approved

the airport, railway project reached a total of 693.374 billion yuan, of which, in October month approved the 

airport railway investment projects amounted to 493.514 billion yuan,intensive the extent and in the past year, 

much higher than the amount approved in January, steady growth intentions clear, but these projects are now 

difficult short-term gains, stimulus or limited.

In summary, the current entering November, the northern region has been the winter, some have snow, the 

temperature is gradually decreased the southern region, outdoor started declining, the terminal needs or will 

gradually shrink, while steel prices could finally win another one on the in this month, but the seasonally 

weaker demand trend is becoming increasingly apparent, and the actual positive boost is limited, if you want 

strong steel market over the November long way to go.


Latest wire rod price: 2640RMB


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