Thai HRC prices decline
2023-04-07 08:15:05 [Print]
BEIJING (Asian Metal) 7 Apr 23 - HRC traders in Thailand decreased prices further this week dragged by the slow market. The current prevailing prices of HRC SS400 3.0mm*1,500mm stand at THB25,200-26,800/t (USD739-786/t) D/P in warehouse Bangkok, down by about THB500/t (USD15/t) from late last week. Considering that the Songkran Festival approaches and end users would retreat from the market in succession, insiders predict narrowly stable prices of HRC in the coming several days.
"The most competitive price we got for HRC SS400 3.0mm*1,500mm imported from China stands at THB25,200/t (USD739/t) this week, while suppliers insisted on THB25,700/t (USD754/t) late last week," noted a local consumer, who bought 50t of the material at THB25,200/t (USD739/t) in the middle of the week for the preparation of the coming Songkran Festival holiday (April 12-17). In the meantime, the consumer disclosed that suppliers tend to maintain prices flat rather than cut them further seeing the coming holiday. "Traditionally, prices of HRC would go up after the holiday, but we do not expect for a higher price now seeing the continuous declines in China," added the consumer. He believes local prices of HRC would stabilize in the following several days seeing the wait-and-see attitudes of suppliers.
Reporting the monthly consumption capacity of 1,000t, the consumer would consume 500t in April, down from 700t in March. He recorded the total consumption volume of approximately 1,800t in the first quarter of 2023, against 9,500t or so in 2022. Presently, the consumer holds around 100t of stocks.
"Discouraged by the slow market, we had to move down prices slightly this week. One major local HRC producer planned to hike the HRC EXW prices from THB26,500/t (USD777/t) to THB27,000/t (USD792/t) early this week, but agents rejected, and the mill had to narrow the markup to THB26,600/t (USD780/t), but end users still refused to accept," revealed a local trader, quoting THB26,800/t (USD786/t) with the concession of THB200/t (USD6/t) for HRC SS400 3.0mm*1,500mm produced by local mills. Meanwhile, the trader pointed out that participants remain not confident of the market prospect seeing the continuous price decreases in China as well as the potential supply increase. "It's said that the government would remove the anti-dumping duty against HRC from Turkey and Iran soon after canceling that from China and Malaysia. Regular clients purchase inactively, and we just sold 50t of the material at THB26,600/t (USD780/t) on Thursday, while could sell 100t a day in early March," complained the trader, believing prices of HRC would keep flat in the coming several days, with wait-and-see attitude.
With the regular monthly sales volume of 2,500t, the trader might just sell 2,000t in April, half of that in March. He roughly sold 6,000t in the first quarter of 2023, against 28,000t more or less in 2022, without any inventory at present.
"The most competitive price we got for HRC SS400 3.0mm*1,500mm imported from China stands at THB25,200/t (USD739/t) this week, while suppliers insisted on THB25,700/t (USD754/t) late last week," noted a local consumer, who bought 50t of the material at THB25,200/t (USD739/t) in the middle of the week for the preparation of the coming Songkran Festival holiday (April 12-17). In the meantime, the consumer disclosed that suppliers tend to maintain prices flat rather than cut them further seeing the coming holiday. "Traditionally, prices of HRC would go up after the holiday, but we do not expect for a higher price now seeing the continuous declines in China," added the consumer. He believes local prices of HRC would stabilize in the following several days seeing the wait-and-see attitudes of suppliers.
Reporting the monthly consumption capacity of 1,000t, the consumer would consume 500t in April, down from 700t in March. He recorded the total consumption volume of approximately 1,800t in the first quarter of 2023, against 9,500t or so in 2022. Presently, the consumer holds around 100t of stocks.
"Discouraged by the slow market, we had to move down prices slightly this week. One major local HRC producer planned to hike the HRC EXW prices from THB26,500/t (USD777/t) to THB27,000/t (USD792/t) early this week, but agents rejected, and the mill had to narrow the markup to THB26,600/t (USD780/t), but end users still refused to accept," revealed a local trader, quoting THB26,800/t (USD786/t) with the concession of THB200/t (USD6/t) for HRC SS400 3.0mm*1,500mm produced by local mills. Meanwhile, the trader pointed out that participants remain not confident of the market prospect seeing the continuous price decreases in China as well as the potential supply increase. "It's said that the government would remove the anti-dumping duty against HRC from Turkey and Iran soon after canceling that from China and Malaysia. Regular clients purchase inactively, and we just sold 50t of the material at THB26,600/t (USD780/t) on Thursday, while could sell 100t a day in early March," complained the trader, believing prices of HRC would keep flat in the coming several days, with wait-and-see attitude.
With the regular monthly sales volume of 2,500t, the trader might just sell 2,000t in April, half of that in March. He roughly sold 6,000t in the first quarter of 2023, against 28,000t more or less in 2022, without any inventory at present.
