Rebar prices continue to rise in Malaysia
2016-01-27 09:04:19 [Print]
BEIJING (Asian Metal) 27 Jan 16 - Prices of rebar in Malaysia go up further by MYR20/t (USD4.7/t) this week as steel mills continue to lift prices. The current price of rebar BS4449 GR500Φ10-12mm is around MYR1,580/t (USD368/t) with GST excluded. Customers are purchasing materials according to urgent needs so there is little buying activity in the market. Insiders predict that prices will stay firm in the coming week.
A trader in Johor report that current prices for rebar BS4449 GR500Φ10-12mm and Φ16-32mm are MYR1,580/t (USD368/t) and MYR1,480/t (USD345/t) with GST excluded respectively, both up by MYR20/t (USD4.7/t) compared with those of last week. Noted by the source, some constructional projects need to be finished before the Lunar New Year, so they had relatively steady demand for rebar in past two weeks. In addition, local steel mills wanted to pave a way for a good beginning of the market when participants come back from the holiday. “Local steel mills took the chance and lifted prices by MYR40/t (USD9/t) in past two weeks,” he says, adding that the market price followed up.
According to the source, the market performance failed to see obvious improvement after the price increased. His sales volume was around 200 tons last week, almost the same as that before the price went up. With an inventory of 800 tons in hand, the source reveals that he will take the holiday next week and he has no plan to replenish stocks in the short term.
A trader in Perak said the price of rebar BS4449 GR500Φ10-12mm is MYR1,580/t (USD368/t) with GST excluded, increasing by MYR20/t (USD4.7/t) compared with that of last week. As he explains, there have not been many imported rebar in the market in recent two weeks, so local steel mills have some confidence in a price rise. However, customers did not become active in placing orders seeing the price increase. “Customers who have urgent demand have to buy materials with the current price but some others prefer to watch the market and wait for a price decline after the holiday,” he says.
Noted by the source, some participants will begin to take the holiday for Lunar New Year next week, so it is difficult for rebar prices to keep going up in the short term. In his opinion, steel mills do not have enough confidence for the market outlook. “They used to lift prices by MYR50/t (USD12/t) or MYR100/t (USD23/t) at a time in 2015, but the mark-up is limited to MYR20/t (USD4.7/t),” he says, adding that his sales volume is around 1,200 tons per week for the time being, almost the same as that of two weeks ago. With an inventory of 4,000 tons in hand, the source prefers to watch the market cautiously.
A trader in Johor report that current prices for rebar BS4449 GR500Φ10-12mm and Φ16-32mm are MYR1,580/t (USD368/t) and MYR1,480/t (USD345/t) with GST excluded respectively, both up by MYR20/t (USD4.7/t) compared with those of last week. Noted by the source, some constructional projects need to be finished before the Lunar New Year, so they had relatively steady demand for rebar in past two weeks. In addition, local steel mills wanted to pave a way for a good beginning of the market when participants come back from the holiday. “Local steel mills took the chance and lifted prices by MYR40/t (USD9/t) in past two weeks,” he says, adding that the market price followed up.
According to the source, the market performance failed to see obvious improvement after the price increased. His sales volume was around 200 tons last week, almost the same as that before the price went up. With an inventory of 800 tons in hand, the source reveals that he will take the holiday next week and he has no plan to replenish stocks in the short term.
A trader in Perak said the price of rebar BS4449 GR500Φ10-12mm is MYR1,580/t (USD368/t) with GST excluded, increasing by MYR20/t (USD4.7/t) compared with that of last week. As he explains, there have not been many imported rebar in the market in recent two weeks, so local steel mills have some confidence in a price rise. However, customers did not become active in placing orders seeing the price increase. “Customers who have urgent demand have to buy materials with the current price but some others prefer to watch the market and wait for a price decline after the holiday,” he says.
Noted by the source, some participants will begin to take the holiday for Lunar New Year next week, so it is difficult for rebar prices to keep going up in the short term. In his opinion, steel mills do not have enough confidence for the market outlook. “They used to lift prices by MYR50/t (USD12/t) or MYR100/t (USD23/t) at a time in 2015, but the mark-up is limited to MYR20/t (USD4.7/t),” he says, adding that his sales volume is around 1,200 tons per week for the time being, almost the same as that of two weeks ago. With an inventory of 4,000 tons in hand, the source prefers to watch the market cautiously.
