Indonesian angle steel market stable
2014-10-24 08:44:41 [Print]
BEIJING (Asian Metal) 24 Oct 14 - Angle steel market in Indonesia is stable and local prices show a flat trend with downstream demand staying at the regular level. Insiders believe angle steel market will remain calm in following several weeks.
A section steel trader in Surabaya says that the price of angle steel SS400 40mm*40mm*4mm from local steel mills is IDR7,900,000/t (USD656/t) VAT excluded, unchanged compared with that of last week.
The source discloses that local market prices haven’t shown any changes this month till now. According to him, Indonesia rupiah stopped falling against dollar in October, and local producers prefer to keep ex-works prices unchanged seeing the stable market. Currently, his total stockpile stays at the regular level of 2,000t. He predicts that local market prices are likely to remain unchanged in the remaining days of this month.
A building contractor in Medan reports that the offer he received for angle steel SS400 40mm*40mm*4mm from local steel mills is IDR7,800,000/t (USD648/t) VAT excluded and transportation fee included, unchanged compared with that of two weeks ago.
According to him, prices of raw materials like coke and steel scrap showed no obvious changes in past several weeks, so local producers have no plan to adjust list prices under such a condition. However, he also discloses that members of cabinet haven’t been finally decided yet, so he suspended his projects for fear of some potential political risks. As for the coming market, he is not pessimistic but prefers to hold a cautious attitude towards it.
A section steel trader in Surabaya says that the price of angle steel SS400 40mm*40mm*4mm from local steel mills is IDR7,900,000/t (USD656/t) VAT excluded, unchanged compared with that of last week.
The source discloses that local market prices haven’t shown any changes this month till now. According to him, Indonesia rupiah stopped falling against dollar in October, and local producers prefer to keep ex-works prices unchanged seeing the stable market. Currently, his total stockpile stays at the regular level of 2,000t. He predicts that local market prices are likely to remain unchanged in the remaining days of this month.
A building contractor in Medan reports that the offer he received for angle steel SS400 40mm*40mm*4mm from local steel mills is IDR7,800,000/t (USD648/t) VAT excluded and transportation fee included, unchanged compared with that of two weeks ago.
According to him, prices of raw materials like coke and steel scrap showed no obvious changes in past several weeks, so local producers have no plan to adjust list prices under such a condition. However, he also discloses that members of cabinet haven’t been finally decided yet, so he suspended his projects for fear of some potential political risks. As for the coming market, he is not pessimistic but prefers to hold a cautious attitude towards it.
