Thai rebar prices continue to decrease
2015-11-11 08:53:57 [Print]
BEIJING (Asian Metal) 11 Nov 15 - The price of rebar in Thailand continues on the downward trend at the moment, influenced by the poor market performance. The current price of rebar TIS SD40 Φ16-35mm from local steel mills is THB11,500-11,900/t (USD321-332/t) VAT excluded, down by around THB200t (USD6/t) compared with that of ten days ago. Insiders predict that it is likely that the price will decline further in the short term.
A trader in Samut Prakarn disclosed that his purchasing price of rebar TIS SD40 Φ16-25mm from local steel mills is THB11,900/t (USD332/t) VAT excluded, down by THB100/t (USD3/t) compared with that of ten days ago.
According to the source, the economy in Thailand develops slowly at the moment. “The Ministry of Finance lowers the prediction of GDP growth rate to 2.6-3.1% from 2.6-3.5% in 2015, showing little optimism for the market outlook,” he says, adding that he is pessimistic about the rebar market in the future. The source reveals that his current sales volume of rebar is around 5,500 tons per month, while it could reach 15,000 tons per month at the corresponding period of last year.
A producer in Samut Prakarn reports that his offer for rebar TIS SD40 Φ16-30mm is THB11,500/t (USD321/t) VAT excluded, down by THB300/t (USD8/t) compared with that of ten days ago.
The company’s production for rebar is 25,000-30,000 tons per month at present. As the source explains, the company will cut the production of rebar by 50% to 15,000 tons per month in January of 2016, which is influenced by the shrinking demand from downstream consumers. The source reveals that the current price of rebar has been the lowest level in recent 20 years but he does not think the market can see some improvement in the short term.
A trader in Samut Prakarn disclosed that his purchasing price of rebar TIS SD40 Φ16-25mm from local steel mills is THB11,900/t (USD332/t) VAT excluded, down by THB100/t (USD3/t) compared with that of ten days ago.
According to the source, the economy in Thailand develops slowly at the moment. “The Ministry of Finance lowers the prediction of GDP growth rate to 2.6-3.1% from 2.6-3.5% in 2015, showing little optimism for the market outlook,” he says, adding that he is pessimistic about the rebar market in the future. The source reveals that his current sales volume of rebar is around 5,500 tons per month, while it could reach 15,000 tons per month at the corresponding period of last year.
A producer in Samut Prakarn reports that his offer for rebar TIS SD40 Φ16-30mm is THB11,500/t (USD321/t) VAT excluded, down by THB300/t (USD8/t) compared with that of ten days ago.
The company’s production for rebar is 25,000-30,000 tons per month at present. As the source explains, the company will cut the production of rebar by 50% to 15,000 tons per month in January of 2016, which is influenced by the shrinking demand from downstream consumers. The source reveals that the current price of rebar has been the lowest level in recent 20 years but he does not think the market can see some improvement in the short term.
