China Wire rod price drops a lots on Nov.  Within 30days , it drop 

From 1st Nov to 27th Nov, it dropped RMB750/ton, more than 100USD/TON. Very crazy. Never occur this before.

Wire rod price on 1st Nov is RMB 4010/ton,  on 27th is RMB 3245/ton.

The wire rod drop reason we think is as below.

1. Winter comming, government request most galvanizing, annealing factory stop production, but steel mill not stop. Supply is more than demond. 

2. The real estate control, price drops a lots in China. Some big city drops even 10% to 30%. New real estate project stop, no big demond on steel. So China steel market goes cold.

However, goods news is steel futures goes up, it will promote the steel market price rise.

Wire rod price 3250 is lowest price this year, it's very good to purchase now.

Pls see the wire rod futures, it drops to bottom, will goes up again.