Malaysian steel plate market steady
2015-03-06 09:36:11 [Print]
BEIJING (Asian Metal) 6 Mar 15 - Steel plate prices remain unchanged in most regions in Malaysia. Though local market will impose the Consumption Tax with a rate of 6% next month, local traders expect stable market prices for steel plate in the short run.
A sales manager from Selangor reports to Asian Metal that the quotation for S275JR 14-25mm produced by local steel mills is MYR2,350/t (USD642/t), the same as last week.
With new materials of about 1,000t arriving at port in January from Ansteel in China, the source does not see any profit room for importing after the temporary 24% protective antidumping duty was carried out last month. For now, the domestic demand is mild and most importers will turn to buy from local mills, so he predicts a stable market in the short run.
Another trader from Kuala Lumpur offers MYR2,400/t (USD656/t) for S275JR 14-25mm from local steel mills, no change over last week.
Noted by him, steel plate prices in local market will not increase because of the 6% Consumption Tax, which is planned to be imposed on 1st of April. “Currently there is a 5.8% sales tax, which will be canceled when the new consumption duty is effective,” he says, explaining that the local market price will not increase. The source expects steady market with stable prices and mild downstream demand in coming two weeks.
A sales manager from Selangor reports to Asian Metal that the quotation for S275JR 14-25mm produced by local steel mills is MYR2,350/t (USD642/t), the same as last week.
With new materials of about 1,000t arriving at port in January from Ansteel in China, the source does not see any profit room for importing after the temporary 24% protective antidumping duty was carried out last month. For now, the domestic demand is mild and most importers will turn to buy from local mills, so he predicts a stable market in the short run.
Another trader from Kuala Lumpur offers MYR2,400/t (USD656/t) for S275JR 14-25mm from local steel mills, no change over last week.
Noted by him, steel plate prices in local market will not increase because of the 6% Consumption Tax, which is planned to be imposed on 1st of April. “Currently there is a 5.8% sales tax, which will be canceled when the new consumption duty is effective,” he says, explaining that the local market price will not increase. The source expects steady market with stable prices and mild downstream demand in coming two weeks.
