Malaysian seamless pipe market stagnant
2015-09-24 09:18:01 [Print]
BEIJING (Asian Metal) 24 Sep 15 - The seamless pipe market continues to perform inactively at the moment in Malaysia, coupled with participants’ pessimistic attitudes. Nevertheless, most traders are reluctant to cut quotations in view of the depreciating Ringgit. Currently the mainstream price of ASTM A106 GRB Φ114.3mm*6.02mm imported from China is around MYR2,100/t (USD483/t) 6% GST excluded. Insiders foresee a stable price next week.
A trader in Selangor tells Asian Metal that his quotation for seamless pipe ASTM A106 GRB Φ114.3mm*6.02mm imported from China is MYR2,100/t (USD483/t) 6% GST excluded, unchanged over last week.
According to the source, the market has been running slowly since the beginning of this year, and he pins no hope on the remainder of 2015 seeing the weak demand and quite market. Noted by him, local economy is rather gloomy and prices for most daily necessities increase slightly influenced by the depreciation of Ringgit. As a consequence, most seamless pipe traders refuse to cut quotations under the slow market. With an estimated sales volume of 25t in September, half of that during the corresponding period of last year, he holds a wait-and-see attitude towards the market outlook.
Another trader also in Selangor confirms a stable price over last week, offering MYR2,100/t (USD483/t) 6% GST excluded for ASTM A106 GRB Φ114.3mm*6.02mm imported from China.
The source has not received any firm orders this week to date, only some inquiries, while the weekly sales volume was around 5t during the corresponding periods of past years. Noted by him, due to strict loan policies, most developers face capital shortages and many construction projects are forced to halt progress, so the demand for seamless pipe shrinks much. That’s why the market runs inactively in the traditional peak season. Meanwhile, he shows no confidence in the market prospect in remainder of 2015 and does not think the price will go up.
A trader in Selangor tells Asian Metal that his quotation for seamless pipe ASTM A106 GRB Φ114.3mm*6.02mm imported from China is MYR2,100/t (USD483/t) 6% GST excluded, unchanged over last week.
According to the source, the market has been running slowly since the beginning of this year, and he pins no hope on the remainder of 2015 seeing the weak demand and quite market. Noted by him, local economy is rather gloomy and prices for most daily necessities increase slightly influenced by the depreciation of Ringgit. As a consequence, most seamless pipe traders refuse to cut quotations under the slow market. With an estimated sales volume of 25t in September, half of that during the corresponding period of last year, he holds a wait-and-see attitude towards the market outlook.
Another trader also in Selangor confirms a stable price over last week, offering MYR2,100/t (USD483/t) 6% GST excluded for ASTM A106 GRB Φ114.3mm*6.02mm imported from China.
The source has not received any firm orders this week to date, only some inquiries, while the weekly sales volume was around 5t during the corresponding periods of past years. Noted by him, due to strict loan policies, most developers face capital shortages and many construction projects are forced to halt progress, so the demand for seamless pipe shrinks much. That’s why the market runs inactively in the traditional peak season. Meanwhile, he shows no confidence in the market prospect in remainder of 2015 and does not think the price will go up.
