Malaysian angle steel market inactive
2015-05-26 08:41:07 [Print]
BEIJING (Asian Metal) 26 May 15 - Angle steel prices demonstrate a flat trend in Malaysia, while the market runs slowly with downstream demand remaining unreleased. Insiders believe that Malaysian angle steel market will remain quiet for some time.
A steel trader in Pahang said that the current price of angle steel SS400 50mm*50mm*5mm is MYR1,600/t (USD443/t), the same as that of last week.
The source discloses that most end users just purchase in small quantities to meet their urgent needs, so he is willing to provide a discount of MYR50/t (USD14/t) to them to promote sales. He tells Asian Metal that the demand has been insufficient since the beginning of this month, and most traders are not confident of the market outlook.
Another steel trader in Selangor reported that the current price of angle steel SS400 50mm*50mm*5mm is MYR1,650/t (USD457/t), unchanged compared with that of last week.
The source usually buys angle steel from local large distributors and his purchasing price for angle steel stays unchanged at MYR1,520-1,580/t (USD421-437/t). Therefore, he prefers to hold his offers stable temporarily to watch the market. However, since the downstream demand is weak, he has reduced his stockpile of angle steel from 1,000t to the current one of 600t. He forecasts a dim angle steel market in following several weeks.
A steel trader in Pahang said that the current price of angle steel SS400 50mm*50mm*5mm is MYR1,600/t (USD443/t), the same as that of last week.
The source discloses that most end users just purchase in small quantities to meet their urgent needs, so he is willing to provide a discount of MYR50/t (USD14/t) to them to promote sales. He tells Asian Metal that the demand has been insufficient since the beginning of this month, and most traders are not confident of the market outlook.
Another steel trader in Selangor reported that the current price of angle steel SS400 50mm*50mm*5mm is MYR1,650/t (USD457/t), unchanged compared with that of last week.
The source usually buys angle steel from local large distributors and his purchasing price for angle steel stays unchanged at MYR1,520-1,580/t (USD421-437/t). Therefore, he prefers to hold his offers stable temporarily to watch the market. However, since the downstream demand is weak, he has reduced his stockpile of angle steel from 1,000t to the current one of 600t. He forecasts a dim angle steel market in following several weeks.
