Malaysian rebar prices temporarily stable
2015-09-30 08:56:44 [Print]
BEIJING (Asian Metal) 30 Sep 15 - Prices of rebar in Malaysia continue on the stable trend at the moment, while the market fails to see improvement due to the stagnant demand from downstream consumers. The price of rebar BS4449 GR500Φ10-12mm is MYR1,650/t (USD369/t) with GST excluded. Insiders do not think the price has chances to rebound in the near future.
A producer in Johor report that current prices for rebar BS4449 GR500Φ10-12mm and Φ16-32mm are MYR1,650/t (USD369/t) and MYR1,550/t (USD347/t) with GST excluded respectively, unchanged compared with those of last week.
Noted by the source, his current production of rebar is around 20,000 tons per month, while it was about 40,000-50,000 tons per month at the corresponding period of last year. Being short of confidence in the market recovery, the source has no plan to run the production with full capacity in the near future. In his opinion, winter is around the corner and the demand from engineering project will shrink. The source does not think the price of rebar has chances to rebound in the coming month.
A small-sized producer in Perak said the price of rebar BS4449 GR500Φ10-12mm is MYR1,650/t (USD369/t) with GST excluded, the same as that of last week. The source reveals that the current price is around MYR30/t (USD7/t) lower than that of three weeks ago.
Noted by the source, the demand from downstream consumers remains stagnant influenced by the slow development of economy. “The exchange rate between USD and MYR is 1:4.455 and MYR went down by around 17.5% in past two months,” he says, adding that participants show little optimism for the outlook of rebar market. The source reveals that his production for rebar was cut by 30% in Q3 of this year as the demand from downstream consumers continued to shrink and his current production is around 2,500 tons per month at the moment. The source does not think prices of rebar will increase in the near future.
A producer in Johor report that current prices for rebar BS4449 GR500Φ10-12mm and Φ16-32mm are MYR1,650/t (USD369/t) and MYR1,550/t (USD347/t) with GST excluded respectively, unchanged compared with those of last week.
Noted by the source, his current production of rebar is around 20,000 tons per month, while it was about 40,000-50,000 tons per month at the corresponding period of last year. Being short of confidence in the market recovery, the source has no plan to run the production with full capacity in the near future. In his opinion, winter is around the corner and the demand from engineering project will shrink. The source does not think the price of rebar has chances to rebound in the coming month.
A small-sized producer in Perak said the price of rebar BS4449 GR500Φ10-12mm is MYR1,650/t (USD369/t) with GST excluded, the same as that of last week. The source reveals that the current price is around MYR30/t (USD7/t) lower than that of three weeks ago.
Noted by the source, the demand from downstream consumers remains stagnant influenced by the slow development of economy. “The exchange rate between USD and MYR is 1:4.455 and MYR went down by around 17.5% in past two months,” he says, adding that participants show little optimism for the outlook of rebar market. The source reveals that his production for rebar was cut by 30% in Q3 of this year as the demand from downstream consumers continued to shrink and his current production is around 2,500 tons per month at the moment. The source does not think prices of rebar will increase in the near future.
