Malaysian steel plate market quiet
2015-07-08 08:52:55 [Print]
BEIJING (Asian Metal) 8 Jul 15 - Currently the steel plate market performs slowly in Malaysia, while most traders keep quotations stable in view of the depreciation of Ringgit against U.S. dollar. Insiders do not think the market performance will make any progress in the near future.
A trader in Selangor tells Asian Metal that his quotation for S275JR 14-25mm from local mills is MYR2,000/t (USD525/t) 6% GST excluded, the same as last week.
With a current sales volume of 30tpd against 60tpd in the peak season, the source complains that the demand from downstream industries shrinks much in the Ramadan. Nevertheless, considering the exchange currency between Ringgit and U.S. dollar has hit a 16-year low to 3.8070:1, he refuses to cut quotations and prefers to hold a wait-and-see attitude towards the market outlook.
Another trader also in Selangor quotes MYR1,950/t (USD512/t) 6% GST excluded for S275JR 14-25mm from local mills, unchanged over last week.
The source shows no confidence in the market prospect in view of the poor sales performance. With a projected sales-volume turnover of 250t per month, he deems it is hard to reach this level in July. As for the news that the government of Malaysia determined to impose a final safeguard duty on imported steel plate for three years from July 2nd, the source discloses that the effect is faint at the moment.
A trader in Selangor tells Asian Metal that his quotation for S275JR 14-25mm from local mills is MYR2,000/t (USD525/t) 6% GST excluded, the same as last week.
With a current sales volume of 30tpd against 60tpd in the peak season, the source complains that the demand from downstream industries shrinks much in the Ramadan. Nevertheless, considering the exchange currency between Ringgit and U.S. dollar has hit a 16-year low to 3.8070:1, he refuses to cut quotations and prefers to hold a wait-and-see attitude towards the market outlook.
Another trader also in Selangor quotes MYR1,950/t (USD512/t) 6% GST excluded for S275JR 14-25mm from local mills, unchanged over last week.
The source shows no confidence in the market prospect in view of the poor sales performance. With a projected sales-volume turnover of 250t per month, he deems it is hard to reach this level in July. As for the news that the government of Malaysia determined to impose a final safeguard duty on imported steel plate for three years from July 2nd, the source discloses that the effect is faint at the moment.
