CRC prices climb up in Malaysia
2016-03-31 08:46:14 [Print]
BEIJING (Asian Metal) 31 Mar 16 - As steel prices in international market increased sharply in past weeks and are standing high at the moment, CRC prices in Malaysia go up further at the moment. The current price of CRC SPCC 1.0mm*1,219mm*C is MYR2,150/t (USD548/t) with GST excluded, up by MYR50-100/t (USD13-25/t) compared with that of last week. Insiders predict it is likely that CRC prices will rise further in the near future.
A trader in Kuala Lumpur said the current price of CRC SPCC 1.0mm*1,219mm*C from local steel mills is MYR2,150/t (USD548/t) with GST excluded, increasing by MYR100/t (USD25/t) compared with that of last week. “Prices rebounded by around MYR150/t (USD38/t) in past two weeks,” he said. According to the source, Malaysian government has been very strict with imported HRC recently. In addition, Malaysia began to collect 6.35%-25.4% anti-dumping tax for imported HRC from China in February. As a consequence, prices of HRC, the raw material for CRC, continued to climb up in past three weeks.
The source revealed that local steel mills do not hold many stocks for CRC at the moment, causing a relatively tight supply. He has 200 tons in hand for the time being, while his regular level was about 400 tons in past months. “Some customers can accept the current price but some others prefer to watch the market,” he said, adding that he sold 250 tons in March, while it was only 100 tons in February.
A trader in Penang told Asian Metal that the price of CRC SPCC 1.0mm*1,219mm*C from local steel mills is MYR2,150/t (USD548/t) with GST excluded, up by MYR50/t (USD13/t) compared with that of last week. The source pointed that Megasteel’s supply to local market is very tight at the moment and the mill limited some traders’ buying quantity in past days.
Holding an inventory of 150 tons against the regular level of 250 tons, the source is not eager to sell materials at the moment, predicting a further price increase in the short term. He revealed that his sales volume is about 100 tons in the latter half of this month, when prices showed an upward trend, which is a little higher than that of 70 tons in the former half. In his opinion, if prices continue to go up, the market will perform inactively but customers will gradually accept the current higher price level in the future.
A trader in Kuala Lumpur said the current price of CRC SPCC 1.0mm*1,219mm*C from local steel mills is MYR2,150/t (USD548/t) with GST excluded, increasing by MYR100/t (USD25/t) compared with that of last week. “Prices rebounded by around MYR150/t (USD38/t) in past two weeks,” he said. According to the source, Malaysian government has been very strict with imported HRC recently. In addition, Malaysia began to collect 6.35%-25.4% anti-dumping tax for imported HRC from China in February. As a consequence, prices of HRC, the raw material for CRC, continued to climb up in past three weeks.
The source revealed that local steel mills do not hold many stocks for CRC at the moment, causing a relatively tight supply. He has 200 tons in hand for the time being, while his regular level was about 400 tons in past months. “Some customers can accept the current price but some others prefer to watch the market,” he said, adding that he sold 250 tons in March, while it was only 100 tons in February.
A trader in Penang told Asian Metal that the price of CRC SPCC 1.0mm*1,219mm*C from local steel mills is MYR2,150/t (USD548/t) with GST excluded, up by MYR50/t (USD13/t) compared with that of last week. The source pointed that Megasteel’s supply to local market is very tight at the moment and the mill limited some traders’ buying quantity in past days.
Holding an inventory of 150 tons against the regular level of 250 tons, the source is not eager to sell materials at the moment, predicting a further price increase in the short term. He revealed that his sales volume is about 100 tons in the latter half of this month, when prices showed an upward trend, which is a little higher than that of 70 tons in the former half. In his opinion, if prices continue to go up, the market will perform inactively but customers will gradually accept the current higher price level in the future.
