Malaysian HRC market inactive
2023-04-13 08:17:35 [Print]
BEIJING (Asian Metal) 13 Apr 23 - The HRC market runs slowly in Malaysia this week, and prices keep narrowly stable. Participants show little confidence in the market prospect. Presently, the prevailing prices of HRC SS400 3.0mm*1,250mm*C stand at MYR3,300-3,450/t (USD747-781/t) D/P in warehouse Kuala Lumpur, similar to late last week. Given the dim market and decreasing prices from major supplying countries, insiders believe prices of HRC would go down in the following several days.
"The decreasing prices in China weakened end users' purchasing activities. Besides, the operation of downstream projects slows down in the Ramadan, leading to the shrinking demand for HRC. Several regular buyers sending inquiries early last week still negotiate with us this week discouraged by the downward price trend from major HRC supplying countries, and I guess they might not place orders within this week," revealed a local trader, who last sold 50t at MYR3,500/t (USD793/t) around 10 days ago and could accept MYR3,450/t (USD781/t) for HRC SS400 3.0mm*1,250mm*C now. In the meantime, the trader disclosed that insufficient orders for final products weakened end users' purchasing activities to some extent. Upon the sluggish demand, the trader adopts pessimistic attitude towards the market prospect and deems prices of HRC might decline in the coming several days.
Based on the typical sales volume of 500tpm, the trader estimates that the sales volume would reach 300t in April from 400t in March. He roughly sold 1,700t in the first quarter of 2023 and 5,000t in 2022, without any stock right now.
"The market runs quietly. We did not receive any inquiries nor close any deals so far this week, and last sold 70t of HRC at MYR3,300/t (USD747/t) late last week," stated another local trader, quoting MYR3,300/t (USD747/t) without concession for HRC SS400 3.0mm*1,250mm*C at the moment. According to him, end users tend to hold back from purchasing seeing the continuous price declines in China. "Presently, suppliers in China quote around USD670/t CFR Malaysia, while they insisted on USD710/t in the middle of March," added the trader. In the meantime, he pointed out that prices of welded pipe go down this week, weakening the purchasing activities of welded pipe producers. The trader worries prices of HRC might decrease in the following several days in view of the slow market.
The trader estimates that the sales volume in April would reduce to 1,000t from 5,000t in March. With the typical monthly sales volume of 4,000t, the trader recorded the sales volume of around 10,000t in the first quarter of 2023 and 40,000t or so in 2022. He does not hold any stock right now.
"The decreasing prices in China weakened end users' purchasing activities. Besides, the operation of downstream projects slows down in the Ramadan, leading to the shrinking demand for HRC. Several regular buyers sending inquiries early last week still negotiate with us this week discouraged by the downward price trend from major HRC supplying countries, and I guess they might not place orders within this week," revealed a local trader, who last sold 50t at MYR3,500/t (USD793/t) around 10 days ago and could accept MYR3,450/t (USD781/t) for HRC SS400 3.0mm*1,250mm*C now. In the meantime, the trader disclosed that insufficient orders for final products weakened end users' purchasing activities to some extent. Upon the sluggish demand, the trader adopts pessimistic attitude towards the market prospect and deems prices of HRC might decline in the coming several days.
Based on the typical sales volume of 500tpm, the trader estimates that the sales volume would reach 300t in April from 400t in March. He roughly sold 1,700t in the first quarter of 2023 and 5,000t in 2022, without any stock right now.
"The market runs quietly. We did not receive any inquiries nor close any deals so far this week, and last sold 70t of HRC at MYR3,300/t (USD747/t) late last week," stated another local trader, quoting MYR3,300/t (USD747/t) without concession for HRC SS400 3.0mm*1,250mm*C at the moment. According to him, end users tend to hold back from purchasing seeing the continuous price declines in China. "Presently, suppliers in China quote around USD670/t CFR Malaysia, while they insisted on USD710/t in the middle of March," added the trader. In the meantime, he pointed out that prices of welded pipe go down this week, weakening the purchasing activities of welded pipe producers. The trader worries prices of HRC might decrease in the following several days in view of the slow market.
The trader estimates that the sales volume in April would reduce to 1,000t from 5,000t in March. With the typical monthly sales volume of 4,000t, the trader recorded the sales volume of around 10,000t in the first quarter of 2023 and 40,000t or so in 2022. He does not hold any stock right now.
