A trader in Beijing said that wire price rises up by RMB50-60/ton in Beijing and now leading market quotation of 6.5mm high speed wire is RMB3,800-3,820/ton. He noted that the price increases by RMB200/ton after Chinese New Year, but market demand has not climbed up at the same rate, so transactions are low. Meanwhile, steelworks did not stop the production during Chinese New Year but the market was closed, so market inventories soar.
 

A trader in Shanghai indicated that the quotation slipped by RMB40/ton on last Friday. Another trader in Shanghai said that they would adjust prices a few days later because there are few transactions now. Now market prices of 6.5mm high speed wire and common wire are RMB3,850-3,860/ton and RMB3,820-3,850/ton respectively.