Malaysian rebar price keeps increasing
2013-09-22 09:12:43 [Print]
BEIJING (Asian Metal) 22 Sep 13 - The price of rebar in Malaysia increases again by MYR50/t supported by higher ex-works prices. Current prices of BS4449 GR500 Φ12mm and BS4449 GR500 Φ16-32mm are MYR2,300-2,350/t (USD711-727/t) and MYR2,200-2,250/t (USD680-696/t). Insiders predict that prices will remain unchanged in a short term.
A small-size rebar producer in Perak quoted MYR2,350/t (USD727/t) and MYR2,250/t (USD696/t) respectively for rebar BS4449 GR500 Φ12mm and BS4449 GR500 Φ16-32mm from local mills, MYR50/t higher than those of early this week.
The source said as the government issued all kinds of measures to restrain the import of wire rod and rebar from China, which is the largest steel export country. “Now, few traders here can import rebar from China except they can prove that they will export those materials,” explained the source. Therefore, local mills raised ex-works prices by MYR50/t on September 17th. However, the local demand is not strong and the source’s output of small-size rebar is only 2,500-3,000t per month, half of the best level. Thus, he believed that the rebar price will be unchanged in a short term.
A construction materials supplier in Johore said current prices of rebar BS4449 GR500 Φ12mm and BS4449 GR500 Φ16-32mm from local mills are MYR2,300/t (USD711/t) and MYR2,200/t (USD680/t) respectively, with a markup of MYR50/t week on week.
The source also attributed the price hike to the higher ex-works price. “Mills lifted prices, so traders have no choice but to follow suit, no matter buyers could accept it or not,” he sighed. According to him, the demand from local end users is still not strong and there are few new construction projects running at present, so he is not confident that the price will keep going up. Without any stock of rebar in hand, the source said his monthly sales quantity is no more than 1,000t.
A small-size rebar producer in Perak quoted MYR2,350/t (USD727/t) and MYR2,250/t (USD696/t) respectively for rebar BS4449 GR500 Φ12mm and BS4449 GR500 Φ16-32mm from local mills, MYR50/t higher than those of early this week.
The source said as the government issued all kinds of measures to restrain the import of wire rod and rebar from China, which is the largest steel export country. “Now, few traders here can import rebar from China except they can prove that they will export those materials,” explained the source. Therefore, local mills raised ex-works prices by MYR50/t on September 17th. However, the local demand is not strong and the source’s output of small-size rebar is only 2,500-3,000t per month, half of the best level. Thus, he believed that the rebar price will be unchanged in a short term.
A construction materials supplier in Johore said current prices of rebar BS4449 GR500 Φ12mm and BS4449 GR500 Φ16-32mm from local mills are MYR2,300/t (USD711/t) and MYR2,200/t (USD680/t) respectively, with a markup of MYR50/t week on week.
The source also attributed the price hike to the higher ex-works price. “Mills lifted prices, so traders have no choice but to follow suit, no matter buyers could accept it or not,” he sighed. According to him, the demand from local end users is still not strong and there are few new construction projects running at present, so he is not confident that the price will keep going up. Without any stock of rebar in hand, the source said his monthly sales quantity is no more than 1,000t.
