Malaysian rebar market sees no improvement
2015-03-13 08:52:25 [Print]
BEIJING (Asian Metal) 13 Mar 15 - The rebar market in Malaysia makes little progress after the Lunar New Year, with price falling by MYR50/t (USD13.5/t) compared with that before the holiday. There are no signs of demand release from downstream consumers, so insiders predict that it is unlikely for the price to rebound in the near future.
A trader from Selangor reported that current prices for rebar BS4449 GR500Φ10-12mm and Φ16-32mm are MYR1,950/t (USD529/t) and MYR1,850/t (USD502/t) respectively, down by MYR50/t (USD13.5/t) compared with those before the Lunar New Year.
According to the source, the price of steel scrap has been lower than MYR900/t (USD244/t) since the end of February, while it was around MYR1,000/t (USD271/t) in trading days before the Lunar New Year. “Seeing prices of raw materials decrease, downstream buyers ask for lower quotations,” he complains, adding that there is still little activity in the market after prices come down. He does not think the price of rebar will go up in the short term.
A steel trader in Johor said the price of rebar BS4449 GR500 Φ10-12mm from local mills are MYR1,950/t (USD529/t), falling by MYR50/t (USD13.5/t) compared with that before the Lunar New Year.
As he explains, although the government has levied a 25.2% anti-dumping tax on imported wire rod and rebar from February 20th, importers are active in purchasing from China due to the low price. “The anti-dumping tax will not take effect on materials from Shagang Steel and Yonggang Steel,” he explains, adding that the export price is only USD340-345/t FOB China for chrome added rebar with the above-mentioned grade. The source predicts it is hard for the rebar price to climb up with the impact from China’s low-cost materials.
A trader from Selangor reported that current prices for rebar BS4449 GR500Φ10-12mm and Φ16-32mm are MYR1,950/t (USD529/t) and MYR1,850/t (USD502/t) respectively, down by MYR50/t (USD13.5/t) compared with those before the Lunar New Year.
According to the source, the price of steel scrap has been lower than MYR900/t (USD244/t) since the end of February, while it was around MYR1,000/t (USD271/t) in trading days before the Lunar New Year. “Seeing prices of raw materials decrease, downstream buyers ask for lower quotations,” he complains, adding that there is still little activity in the market after prices come down. He does not think the price of rebar will go up in the short term.
A steel trader in Johor said the price of rebar BS4449 GR500 Φ10-12mm from local mills are MYR1,950/t (USD529/t), falling by MYR50/t (USD13.5/t) compared with that before the Lunar New Year.
As he explains, although the government has levied a 25.2% anti-dumping tax on imported wire rod and rebar from February 20th, importers are active in purchasing from China due to the low price. “The anti-dumping tax will not take effect on materials from Shagang Steel and Yonggang Steel,” he explains, adding that the export price is only USD340-345/t FOB China for chrome added rebar with the above-mentioned grade. The source predicts it is hard for the rebar price to climb up with the impact from China’s low-cost materials.
