Malaysian steel plate market stagnant
2015-05-27 09:01:44 [Print]
BEIJING (Asian Metal) 27 May 15 - The steel plate price keeps stable in Malaysia at the moment, while the market runs slowly because of the soft demand from downstream industries
A trader in Selangor tells Asian Metal that his quotation for S275JR 14-25mm from local steel mills is MYR2,100/t (USD578/t) 6% GST excluded, the same as last week.
The source discloses that the market has been performing inactively since it entered April with the implement of new tax policy. Although there are new projects being operated in succession, the demand for steel plate remains insufficient . “Most customers just purchase to meet urgent needs, rather than place large orders,” he complains . With a projected sales-volume turnover of 2,000t per month, he deems it is hard to reach the level in May . Not being confident of the market outlook, he has reduced the stock by 30-40% and does not plan to supplement it in coming two months.
Another trader also in Selangor quotes MYR2,150/t (USD593/t) 6% GST excluded for S275JR 14-25mm from local steel mills, equaling to last trading day.
The source supposes that the steel plate price is likely to go down slightly in coming several days because of the poor sales performance as well as the appreciation of Ringgit against Dollar. Noted by him, the market is rather quiet and his sales volume in May is estimated to be 150t, while the sales target in the peak season is 250t per month . In addition, prices for raw materials like iron ore and steel billet went down worldwide in recent one week, and thus the cost support weakens.
. Insiders suppose that the price is likely to go down in coming several days.
A trader in Selangor tells Asian Metal that his quotation for S275JR 14-25mm from local steel mills is MYR2,100/t (USD578/t) 6% GST excluded, the same as last week.
The source discloses that the market has been performing inactively since it entered April with the implement of new tax policy. Although there are new projects being operated in succession, the demand for steel plate remains insufficient . “Most customers just purchase to meet urgent needs, rather than place large orders,” he complains . With a projected sales-volume turnover of 2,000t per month, he deems it is hard to reach the level in May . Not being confident of the market outlook, he has reduced the stock by 30-40% and does not plan to supplement it in coming two months.
Another trader also in Selangor quotes MYR2,150/t (USD593/t) 6% GST excluded for S275JR 14-25mm from local steel mills, equaling to last trading day.
The source supposes that the steel plate price is likely to go down slightly in coming several days because of the poor sales performance as well as the appreciation of Ringgit against Dollar. Noted by him, the market is rather quiet and his sales volume in May is estimated to be 150t, while the sales target in the peak season is 250t per month . In addition, prices for raw materials like iron ore and steel billet went down worldwide in recent one week, and thus the cost support weakens.