Malaysian steel plate traders pessimistic about the market outlook
2015-07-14 08:55:20 [Print]
BEIJING (Asian Metal) 14 Jul 15 - The steel plate prices continue to be stable in Malaysia at the moment, and the market performance remains unsatisfying due to the soft downstream demand in the Ramadan. Most traders show no confidence in the market prospect and are worried about a price decline next week.
A trader in Selangor offers MYR2,000/t (USD525/t) 6% GST excluded for S275JR 14-25mm from local mills, the same as last week.
Holding a regular stock of 700-800t in hand, the source complains that it is hard to conclude deals at the moment, and thus he does not plan to replenish the inventory, although offers from Chinese exporters for the regular grade of steel plate has dropped to below USD320/t FOB in recent two weeks. According to him, as there are few construction projects under operation, the demand remains insufficient, and even a price decline is hard to boost sales. Regarding the coming market, he is a little bit pessimistic and foresees a price decline.
Another trader also in Selangor quotes MYR1,950/t (USD512/t) 6% GST excluded for S275JR 14-25mm from local mills, unchanged over last week.
The source shows no confidence in the market even after the Ramadan and he thinks the price is likely to decrease by MYR50-100/t (USD13.1-26.2/t) when exchange currency between Ringgit and U.S. dollar goes back to normal. “It it hard to conclude deals now as the downstream demand is absent,” he sighs. With a projected sales-volume turnover of 250t per month, he supposes that it will be around 200t in July.
A trader in Selangor offers MYR2,000/t (USD525/t) 6% GST excluded for S275JR 14-25mm from local mills, the same as last week.
Holding a regular stock of 700-800t in hand, the source complains that it is hard to conclude deals at the moment, and thus he does not plan to replenish the inventory, although offers from Chinese exporters for the regular grade of steel plate has dropped to below USD320/t FOB in recent two weeks. According to him, as there are few construction projects under operation, the demand remains insufficient, and even a price decline is hard to boost sales. Regarding the coming market, he is a little bit pessimistic and foresees a price decline.
Another trader also in Selangor quotes MYR1,950/t (USD512/t) 6% GST excluded for S275JR 14-25mm from local mills, unchanged over last week.
The source shows no confidence in the market even after the Ramadan and he thinks the price is likely to decrease by MYR50-100/t (USD13.1-26.2/t) when exchange currency between Ringgit and U.S. dollar goes back to normal. “It it hard to conclude deals now as the downstream demand is absent,” he sighs. With a projected sales-volume turnover of 250t per month, he supposes that it will be around 200t in July.
