Thai angle steel prices up
2016-03-16 08:40:48 [Print]
BEIJING (Asian Metal) 16 Mar 16 - Thai angle steel prices demonstrated an upward trend supported by higher raw material prices. The mainstream price of angle steel SS400 50mm*50mm*5mm is THB18,500-19,200/t (USD527-547/t), rising by THB400/t (USD11/t) compared with that of two weeks ago. However, the downstream demand showed no signs of becoming stronger, and insiders don’t believe that the angle steel market in Thailand will improve much in the near future.
A steel trader in Samut Prakan said that the current price of angle steel SS400 50mm*50mm*5mm is THB18,500/t (USD527/t) VAT included, increasing by THB400/t (USD11/t) compared with that of two weeks ago.
The source told Asian Metal that the price of iron ore fine 63.5%min imported from India has increased by USD5.5/dt to USD39.5/dt FOB India since the beginning of March. Current prices of steel billet and other raw materials are also much higher than those of last month. Therefore, Thai producers moved up their ex-works prices and local traders followed suit. However, he also reported a dim market without strong downstream demand. His sales volume was 5,000-6,000t in February while it could reach 10,000t in Q4 2015. Holding an inventory of 7,000-8,000t, he foresees a sluggish angle steel market in the remaining days of this month.
Another steel trader in Bangkok reported that the price of angle steel SS400 50mm*50mm*5mm is THB19,100/t (USD544/t) VAT included, increasing by THB400/t (USD11/t) compared with that of two weeks ago.
The source confirmed that Thai section steel market is not active despite the price rise. According to him, most end users are cautious about placing orders with him seeing the price increase. His current sales volume is 50-60tpd, lower than the average one of 80-100tpd in February. To avoid risks, he has reduced his stockpile from 3,000t at the beginning of this year to the current one of 1,000-1,500t. He doesn’t believe that local angle steel market will witness any improvement in the foreseeable future.
A steel trader in Samut Prakan said that the current price of angle steel SS400 50mm*50mm*5mm is THB18,500/t (USD527/t) VAT included, increasing by THB400/t (USD11/t) compared with that of two weeks ago.
The source told Asian Metal that the price of iron ore fine 63.5%min imported from India has increased by USD5.5/dt to USD39.5/dt FOB India since the beginning of March. Current prices of steel billet and other raw materials are also much higher than those of last month. Therefore, Thai producers moved up their ex-works prices and local traders followed suit. However, he also reported a dim market without strong downstream demand. His sales volume was 5,000-6,000t in February while it could reach 10,000t in Q4 2015. Holding an inventory of 7,000-8,000t, he foresees a sluggish angle steel market in the remaining days of this month.
Another steel trader in Bangkok reported that the price of angle steel SS400 50mm*50mm*5mm is THB19,100/t (USD544/t) VAT included, increasing by THB400/t (USD11/t) compared with that of two weeks ago.
The source confirmed that Thai section steel market is not active despite the price rise. According to him, most end users are cautious about placing orders with him seeing the price increase. His current sales volume is 50-60tpd, lower than the average one of 80-100tpd in February. To avoid risks, he has reduced his stockpile from 3,000t at the beginning of this year to the current one of 1,000-1,500t. He doesn’t believe that local angle steel market will witness any improvement in the foreseeable future.
