Malaysian HRC prices flat
2023-03-22 08:29:38 [Print]
BEIJING (Asian Metal) 22 Mar 23 - HRC traders in Malaysia maintain prices flat this week, amid the dim market. With the approach of the Ramadan, end users slow down purchasing. The current mainstream prices of HRC SS400 3.0mm*1,250mm*C stand at MYR3,400-3,500/t (USD760-783/t) D/P in warehouse Kuala Lumpur, similar to late last week. Insiders foresee stable prices of HRC in the coming several days seeing the steady market.
"Downstream customers remain inactive in purchasing seeing the approach of the Ramadan and the price decline in China. We did not receive any inquiries nor close any deals till now this week, and last sold 50t of HRC SS400 3.0mm*1,250mm*C at MYR3,500/t (USD783/t) in the middle of last week," noted a local trader, quoting MYR3,500/t (USD783/t) without concession for HRC SS400 3.0mm*1,250mm*C. The source remains a little bit confused about the market prospect and keeps persuading clients to purchase. "They even refused to give the ideal purchasing prices after got our offers," complained the trader. However, considering that overseas steel mills keep raising HRC export prices, he refuses to move prices down and predicts stable prices of HRC in the following several days.
With the regular monthly sales volume of 500t, the trader might only sell 400t in March, down from 1,000t in February. The sales volume would reach 1,700t in the first quarter of 2023, against 5,000t in 2022. The trader does not hold any stock at the moment.
Another local trader confirms the stable prices, offering MYR3,400/t (USD760/t) for HRC SS400 3.0mm*1,250mm*C. According to him, thought it's the traditional peak season, the market remains far from satisfactory than the corresponding period of last year. Meanwhile, the absence of new projects heightened end users' cautious attitudes. "Downstream customers strictly purchase according to orders for final products facing the continuous price increases in the past two months, complaining suffering losses, while we have no intention to cut prices down seeing the rising prices in the international market. Import prices of HRC stand as high as USD710-770/t CFR Malaysia now," added the trader, believing prices of HRC would keep flat in the forthcoming several days. The trader did not close any deals on Tuesday, and last sold 40t of the material at MYR3,400/t (USD760/t) on Monday.
Holding 3,000t in stock, the trader estimates that the sales volume would reach 2,500t in March, up from 2,000t in February. He might sell 6,000t in the first quarter of 2023, against 23,600t or in 2022.
"Downstream customers remain inactive in purchasing seeing the approach of the Ramadan and the price decline in China. We did not receive any inquiries nor close any deals till now this week, and last sold 50t of HRC SS400 3.0mm*1,250mm*C at MYR3,500/t (USD783/t) in the middle of last week," noted a local trader, quoting MYR3,500/t (USD783/t) without concession for HRC SS400 3.0mm*1,250mm*C. The source remains a little bit confused about the market prospect and keeps persuading clients to purchase. "They even refused to give the ideal purchasing prices after got our offers," complained the trader. However, considering that overseas steel mills keep raising HRC export prices, he refuses to move prices down and predicts stable prices of HRC in the following several days.
With the regular monthly sales volume of 500t, the trader might only sell 400t in March, down from 1,000t in February. The sales volume would reach 1,700t in the first quarter of 2023, against 5,000t in 2022. The trader does not hold any stock at the moment.
Another local trader confirms the stable prices, offering MYR3,400/t (USD760/t) for HRC SS400 3.0mm*1,250mm*C. According to him, thought it's the traditional peak season, the market remains far from satisfactory than the corresponding period of last year. Meanwhile, the absence of new projects heightened end users' cautious attitudes. "Downstream customers strictly purchase according to orders for final products facing the continuous price increases in the past two months, complaining suffering losses, while we have no intention to cut prices down seeing the rising prices in the international market. Import prices of HRC stand as high as USD710-770/t CFR Malaysia now," added the trader, believing prices of HRC would keep flat in the forthcoming several days. The trader did not close any deals on Tuesday, and last sold 40t of the material at MYR3,400/t (USD760/t) on Monday.
Holding 3,000t in stock, the trader estimates that the sales volume would reach 2,500t in March, up from 2,000t in February. He might sell 6,000t in the first quarter of 2023, against 23,600t or in 2022.
