Thai HRC market sluggish
2015-08-24 08:58:34 [Print]
BEIJING (Asian Metal) 24 Aug 15 - After the continuous declines in past weeks, the HRC price tends to be stable in Thailand at the moment, with that of SS400 3.0mm*1,250mm*C from local mills at around THB16,000/t (USD450/t) 7% VAT excluded. Besides, the market continues to run inactively with the weak demand from downstream industries. Insiders do not think the market performance can make any progress in the short term.
A trader in Mai tells Asian Metal that his quotation for SS400 3.0mm*1,250mm*C from local mills is THB16,000/t (USD450/t) 7% VAT excluded, the same as last week.
Holding a regular stock of 3,000t in hand, the source expresses his pessimism about the market prospect in remaining days of August, the traditional off-season. His average daily sales volume is 200t this month to date, while the projected level is around 400t. The source attributes the poor sales performance to the unsteady political and economical situations in Thailand, and he does not think the market will warm up in the near future, just with wait-and-see attitudes.
Another trader in Ayutthaya also offers THB16,000/t (USD450/t) 7% VAT excluded for HRC SS400 3.0mm*1,250mm*C from local mills, equaling to last week.
According to the source, though the market remains quiet, local mills did not adjust ex-works prices these two weeks, and most local traders tended to maintain quotations unchanged as prices have dropped by around THB3,000/t (USD84/t) since the beginning of July. Noted by him, it is hard to conclude large deals at the moment since most downstream customers just purchase according to urgent needs. Currently he holds a regular stock of 1,500t in hand, and does not plan to replenish it in coming two weeks.
A trader in Mai tells Asian Metal that his quotation for SS400 3.0mm*1,250mm*C from local mills is THB16,000/t (USD450/t) 7% VAT excluded, the same as last week.
Holding a regular stock of 3,000t in hand, the source expresses his pessimism about the market prospect in remaining days of August, the traditional off-season. His average daily sales volume is 200t this month to date, while the projected level is around 400t. The source attributes the poor sales performance to the unsteady political and economical situations in Thailand, and he does not think the market will warm up in the near future, just with wait-and-see attitudes.
Another trader in Ayutthaya also offers THB16,000/t (USD450/t) 7% VAT excluded for HRC SS400 3.0mm*1,250mm*C from local mills, equaling to last week.
According to the source, though the market remains quiet, local mills did not adjust ex-works prices these two weeks, and most local traders tended to maintain quotations unchanged as prices have dropped by around THB3,000/t (USD84/t) since the beginning of July. Noted by him, it is hard to conclude large deals at the moment since most downstream customers just purchase according to urgent needs. Currently he holds a regular stock of 1,500t in hand, and does not plan to replenish it in coming two weeks.
