Wire rod prices continue to increase in Thailand
2016-04-29 09:41:28 [Print]
BEIJING (Asian Metal) 29 Apr 16 - The wire rod price in Thailand totally witnessed a mark-up of about THB2,500t (USD72/t) in past three weeks, influenced by increased prices for imported materials
A trader in Bangkok stated that the current price of wire rod JIS SWRM15 Φ5.5mm is THB18,000/t (USD514/t) VAT excluded, up by THB700/t (USD20/t) compared with that of a week ago. “The import price of wire rod went up by around USD200/t in past two months,” said the source, adding that local producers also lifted prices during that time influenced by higher production cost.
Holding an inventory of 1,000 tons, the source revealed that the demand from wire rod manufacturer did not show any signs of becoming strong. His sales volume is about 2,000 tons in April, similar to that in March and February . In his opinion, prices increased too quickly in April and they are likely to come down a little bit in the near future.
A wire rod consumer in Bangkok revealed the current price of wire rod JIS SWRH62 Φ5.5mm is THB17,800/t (USD508/t) VAT excluded, up by THB500/t (USD14/t) compared with a week ago . The company manufactures wire rod and produces steel wire . According to the source, the demand for steel wire was stagnant in past months due to oversupply . “Even though the price of wire rod increased, the market failed to perform actively,” said the source.
The source revealed that his inventory for wire rod is 400 tons at the moment, higher than that of 200 tons in March. In addition, his inventory for steel wire, the finished product, is 600 tons at present, which is enough for customers’ consumption in coming six months . The source pointed out that, in order to avoid potential risks, he does not want to replenish wire rod stocks at the current price . In his opinion, it is likely that the price of wire rod will decline in coming two weeks.
. The price of wire rod JIS SWRM15 Φ5.5mm is THB18,000/t (USD514/t) VAT excluded . As the demand from downstream consumers remains weak, insiders predict that the price in Thailand will come down in the near future.
A trader in Bangkok stated that the current price of wire rod JIS SWRM15 Φ5.5mm is THB18,000/t (USD514/t) VAT excluded, up by THB700/t (USD20/t) compared with that of a week ago. “The import price of wire rod went up by around USD200/t in past two months,” said the source, adding that local producers also lifted prices during that time influenced by higher production cost.
Holding an inventory of 1,000 tons, the source revealed that the demand from wire rod manufacturer did not show any signs of becoming strong. His sales volume is about 2,000 tons in April, similar to that in March and February . In his opinion, prices increased too quickly in April and they are likely to come down a little bit in the near future.
A wire rod consumer in Bangkok revealed the current price of wire rod JIS SWRH62 Φ5.5mm is THB17,800/t (USD508/t) VAT excluded, up by THB500/t (USD14/t) compared with a week ago . The company manufactures wire rod and produces steel wire . According to the source, the demand for steel wire was stagnant in past months due to oversupply . “Even though the price of wire rod increased, the market failed to perform actively,” said the source.
The source revealed that his inventory for wire rod is 400 tons at the moment, higher than that of 200 tons in March. In addition, his inventory for steel wire, the finished product, is 600 tons at present, which is enough for customers’ consumption in coming six months . The source pointed out that, in order to avoid potential risks, he does not want to replenish wire rod stocks at the current price . In his opinion, it is likely that the price of wire rod will decline in coming two weeks.