Malaysian angle steel traders watch the market
2016-07-19 08:49:13 [Print]
BEIJING (Asian Metal) 19 Jul 16 - Malaysian angle steel prices showed a flat trend and the market runs quietly at this moment. Mainstream price of angle steel SS400 50mm*50mm*5mm is MYR1,500-1,550/t (USD378-390/t) for the time being. Insiders foresee a sluggish Malaysian angle steel market in the remaining days of this month.
A steel trader in Selangor said that the current price of angle steel SS400 50mm*50mm*5mm is MYR1,500/t (USD378/t), stable compared with that of last week.
The source told Asian Metal that the downstream demand showed no signals of becoming stronger after the Lesser Bairam and his current sales performance is as bad as it was during Ramadan. He reported a sales volume of 150-200t in June, and the current weekly sales volume is 30-40t. He has an inventory of 400-500t at this moment and prefers to hold a cautious attitude towards the forthcoming market.
Another steel trader in Pahang reported that the current price of angle steel SS400 50mm*50mm*5mm is MYR1,550/t (USD390/t), stable compared with that of last week.
The source told Asian Metal that local market prices have been relatively stable after the end of Ramadan, while the current price is still MYR100/t (USD25/t) lower than the average price in June. According to him, his current sales volume is 50tpd, similar to it was during last month. Holding a stockpile of 2,000t, he is afraid that local angle steel market will remain sluggish in following weeks.
A steel trader in Selangor said that the current price of angle steel SS400 50mm*50mm*5mm is MYR1,500/t (USD378/t), stable compared with that of last week.
The source told Asian Metal that the downstream demand showed no signals of becoming stronger after the Lesser Bairam and his current sales performance is as bad as it was during Ramadan. He reported a sales volume of 150-200t in June, and the current weekly sales volume is 30-40t. He has an inventory of 400-500t at this moment and prefers to hold a cautious attitude towards the forthcoming market.
Another steel trader in Pahang reported that the current price of angle steel SS400 50mm*50mm*5mm is MYR1,550/t (USD390/t), stable compared with that of last week.
The source told Asian Metal that local market prices have been relatively stable after the end of Ramadan, while the current price is still MYR100/t (USD25/t) lower than the average price in June. According to him, his current sales volume is 50tpd, similar to it was during last month. Holding a stockpile of 2,000t, he is afraid that local angle steel market will remain sluggish in following weeks.
