Malaysian HRC prices decrease
2023-04-05 08:53:40 [Print]
BEIJING (Asian Metal) 5 Apr 23 - HRC traders in Malaysia moved down prices in succession this week discouraged by the dim market and the price drop from overseas suppliers. The current mainstream prices of HRC SS400 3.0mm*1,250mm*C hover at MYR3,200-3,400/t (USD726-772/t) D/P in warehouse Kuala Lumpur, down by MYR100/t (USD23/t) from late last week. Insiders foresee further price decline in the coming several days upon the slow market.
"We moved down prices to MYR3,300/t (USD749/t) for HRC SS400 3.0mm*1,250mm*C this week, while insisted on MYR3,400/t (USD772/t) late last week," disclosed a local trader. Attributing the price decline to the decreasing prices from overseas suppliers and the slow market in the Ramadan, the trader revealed that export prices from China and South Korea dropped by about USD30/t in recent two weeks. "Actually, we suffer losses now, but have to decrease prices to withdraw capitals. We just sold 10t of the material at MYR3,300/t (USD749/t) on Tuesday, while could sell 50t a day easily in early March," complained the trader. Upon the low purchasing activities of downstream customers, he believes prices of HRC would decline further in the following several days.
Based on the regular monthly sales volume of 3,000t, the trader estimates that the sales volume would reach 2,200t in April, down from 2,500t in March. He roughly sold 6,000t in the first quarter of 2023, against 23,600t or so in 2022, holding around 10,000t of stocks at present.
"Dragged by the poor sales performance, we have to cut down prices this week," revealed another local trader, quoting MYR3,200/t (USD726/t) without concession for HRC SS400 3.0mm*1,250mm*C, the trader last sold 100t of the material at MYR3,300/t (USD749/t) late last week. "We did not close any deals so far this month. We tried to contact with regular clients this week, but they showed little intention in placing orders seeing the downward price trend in China," added the trader. In the meantime, he pointed out that local demand shrinks further as the operation of downstream plants slows down in the Ramadan. Taking the dim market into consideration, the trader predicts a further price decrease in the forthcoming several days.
With the typical sales volume of 5,000tpm, the trader might sell 5,000t in April, against 3,000t in March, while sold 10,000t in February. The trader recorded the sales volume of around 17,000t in the first quarter of 2023, against 51,000t more or less in 2022. He holds no stock right now.
"We moved down prices to MYR3,300/t (USD749/t) for HRC SS400 3.0mm*1,250mm*C this week, while insisted on MYR3,400/t (USD772/t) late last week," disclosed a local trader. Attributing the price decline to the decreasing prices from overseas suppliers and the slow market in the Ramadan, the trader revealed that export prices from China and South Korea dropped by about USD30/t in recent two weeks. "Actually, we suffer losses now, but have to decrease prices to withdraw capitals. We just sold 10t of the material at MYR3,300/t (USD749/t) on Tuesday, while could sell 50t a day easily in early March," complained the trader. Upon the low purchasing activities of downstream customers, he believes prices of HRC would decline further in the following several days.
Based on the regular monthly sales volume of 3,000t, the trader estimates that the sales volume would reach 2,200t in April, down from 2,500t in March. He roughly sold 6,000t in the first quarter of 2023, against 23,600t or so in 2022, holding around 10,000t of stocks at present.
"Dragged by the poor sales performance, we have to cut down prices this week," revealed another local trader, quoting MYR3,200/t (USD726/t) without concession for HRC SS400 3.0mm*1,250mm*C, the trader last sold 100t of the material at MYR3,300/t (USD749/t) late last week. "We did not close any deals so far this month. We tried to contact with regular clients this week, but they showed little intention in placing orders seeing the downward price trend in China," added the trader. In the meantime, he pointed out that local demand shrinks further as the operation of downstream plants slows down in the Ramadan. Taking the dim market into consideration, the trader predicts a further price decrease in the forthcoming several days.
With the typical sales volume of 5,000tpm, the trader might sell 5,000t in April, against 3,000t in March, while sold 10,000t in February. The trader recorded the sales volume of around 17,000t in the first quarter of 2023, against 51,000t more or less in 2022. He holds no stock right now.
