Thai rebar market slow
2014-03-24 09:08:40 [Print]
BEIJING (Asian Metal) 24 Mar 14 - The rebar market in Thailand does not make progress for the time being with the approach of the Songkran Festival which is from April 12 to 16. The price of rebar remains stable with that of TIS SD40 Φ16-25mm from local mills at THB20,000-20,700/t (USD618-640/t) VAT excluded. Insiders predict that the market will keep slow in coming two weeks.
A construction steel trader in Bangkok reported that the current price of rebar TIS SD40 Φ16-25mm from local mills is THB20,000/t (USD618/t) VAT excluded, unchanged compared with that of last week.
The source said the rebar market in Thailand has been slow for several weeks due to the restrained demand from downstream buyers under the unstable political situation. Besides, most traders will celebrate the Songkran Festival next month and take holiday from April 12 to 16, so he believed that the market will remain calm before that, and he has cut his rebar stock to around 2,000t from the regular one of over 3,000t.
Another rebar trader in Bangkok reported that the current price of rebar TIS SD40 Φ16-25mm from local mills is THB20,500/t (USD633/t) VAT excluded, the same as that of last week.
The source confirmed that the current steel market in Thailand is as slow as it was in February. In his opinion, the market is hard to improve without the support from strong demand. He mainly does domestic trade, but he heard that some buyers in Thailand plan to purchase rebar from China at low price, which will definitely weaken the local market. “Some exporters in China quote around USD480/t FOB for rebar with above grade of April shipment, so I really worry about the market in Thailand,” he said. He does not hold any stocks at present and is unconfident of the coming market before the Songkran Festival.
A construction steel trader in Bangkok reported that the current price of rebar TIS SD40 Φ16-25mm from local mills is THB20,000/t (USD618/t) VAT excluded, unchanged compared with that of last week.
The source said the rebar market in Thailand has been slow for several weeks due to the restrained demand from downstream buyers under the unstable political situation. Besides, most traders will celebrate the Songkran Festival next month and take holiday from April 12 to 16, so he believed that the market will remain calm before that, and he has cut his rebar stock to around 2,000t from the regular one of over 3,000t.
Another rebar trader in Bangkok reported that the current price of rebar TIS SD40 Φ16-25mm from local mills is THB20,500/t (USD633/t) VAT excluded, the same as that of last week.
The source confirmed that the current steel market in Thailand is as slow as it was in February. In his opinion, the market is hard to improve without the support from strong demand. He mainly does domestic trade, but he heard that some buyers in Thailand plan to purchase rebar from China at low price, which will definitely weaken the local market. “Some exporters in China quote around USD480/t FOB for rebar with above grade of April shipment, so I really worry about the market in Thailand,” he said. He does not hold any stocks at present and is unconfident of the coming market before the Songkran Festival.
