Steel plate prices show signs of decreasing in Malaysia
2016-07-28 09:35:04 [Print]
BEIJING (Asian Metal) 28 Jul 16 - Some steel plate traders in Malaysia moved prices down by MYR50/t (USD12/t) this week because of the poor sales performance, while others maintained prices stable. The mainstream price of S275JR 14-25mm from local mills is MYR2,100-2,150/t (USD515-527/t) 6% GST excluded. Insiders foresee a price decline in following several days.
A trader in Selangor told Asian Metal that his price for S275JR 14-25mm from local mills is MYR2,100/t (USD515/t) 6% GST excluded, down by MYR50/t (USD12/t) compared with last Friday.
Attributing the price decline to the stagnant market caused by the insufficient demand, the source complained his average daily sales volume has been maintaining at the low level of 20t in recent two weeks, while it could reach 100tpd in early March. In the meantime, considering the current price is around MYR300/t (USD73/t) higher than that at the beginning of the year, he thinks there is still room for it to go down under the slow market, and he anticipates the price is likely to decrease to MYR2,000/t (USD491/t) by the end of August. Not being confident of the market outlook, he has reduced the stock from the regular level of 1,000t to the current 500t in recent three months. He only sold 200t in June influenced by the Ramadan.
Another trader also in Selangor claimed that his price for S275JR 14-25mm from local mills is MYR2,150/t (USD527/t) 6% GST excluded, equivalent to last Friday.
Holding a stock of 1,200t at hand for the moment against 2,000t during the corresponding period of last year, the source stated that the price has been stable for over two weeks under the steady market. With the current sales volume of 50tpd, half of the projected level, he claimed that it is the traditional peak season after the Lesser Bairam traditionally, but the market performance showed no signs of improving this year, so he is worried about a price decline in the near future. “I heard that prices for both steel billet and steel plate from China, the main origin for Malaysian steel plate failed to go up further recently, so the market prospect here is unpromising,” added the source, with a wait-and-see attitude. He sold 1,000t totally last month.
A trader in Selangor told Asian Metal that his price for S275JR 14-25mm from local mills is MYR2,100/t (USD515/t) 6% GST excluded, down by MYR50/t (USD12/t) compared with last Friday.
Attributing the price decline to the stagnant market caused by the insufficient demand, the source complained his average daily sales volume has been maintaining at the low level of 20t in recent two weeks, while it could reach 100tpd in early March. In the meantime, considering the current price is around MYR300/t (USD73/t) higher than that at the beginning of the year, he thinks there is still room for it to go down under the slow market, and he anticipates the price is likely to decrease to MYR2,000/t (USD491/t) by the end of August. Not being confident of the market outlook, he has reduced the stock from the regular level of 1,000t to the current 500t in recent three months. He only sold 200t in June influenced by the Ramadan.
Another trader also in Selangor claimed that his price for S275JR 14-25mm from local mills is MYR2,150/t (USD527/t) 6% GST excluded, equivalent to last Friday.
Holding a stock of 1,200t at hand for the moment against 2,000t during the corresponding period of last year, the source stated that the price has been stable for over two weeks under the steady market. With the current sales volume of 50tpd, half of the projected level, he claimed that it is the traditional peak season after the Lesser Bairam traditionally, but the market performance showed no signs of improving this year, so he is worried about a price decline in the near future. “I heard that prices for both steel billet and steel plate from China, the main origin for Malaysian steel plate failed to go up further recently, so the market prospect here is unpromising,” added the source, with a wait-and-see attitude. He sold 1,000t totally last month.
