Malaysian HRC prices rise
2023-03-02 08:23:43 [Print]
BEIJING (Asian Metal) 2 Mar 23 - HRC traders in Malaysia lifted prices tentatively this week stimulated by the improving market performance, and end users accepted the price hike gradually. Presently, the prevailing prices of HRC SS400 3.0mm*1,250mm*C hover at MYR3,300-3,350/t (USD736-747/t) D/P in warehouse Kuala Lumpur, up by MYR50/t (USD11/t) from late last week. Insiders foresee firm prices of HRC in the following several days seeing the cautious purchasing attitudes of end users.
"We moved up the price of HRC SS400 3.0mm*1,250mm*C to MYR3,300/t (USD736/t) on Monday and end users accepted the price increase easily. On Tuesday, a regular client bought 40t of the material at MYR3,300/t (USD736/t), while he just bought 15-20t at one single time in early February," noted a local trader. According to him, the continuous price increases in major HRC supplying countries and the improving demand in the USA and Europe strengthen market participants' confidence and encourage end users to place orders actively. "More and more end users holding wait-and-see attitudes previously sent inquiries this week," added the trader. Nevertheless, considering that the downstream demand remains not strong enough, the trader believes prices of HRC powerless to go up further and might keep firm in the forthcoming several days.
Holding around 300t in stock, the trader sold 400t of HRC in February, up from 300t in January. With the typical monthly sales volume of 500t, he recorded the sales volume of around 5,000t in 2022.
Another local trader confirms the rising price signal. Quoting MYR3,300/t (USD736/t) for HRC SS400 3.0mm*1,250mm*C, he refused to give any discounts this week, while could accept the concession of around MYR50/t (USD11/t) last week. "Though some end users remain cautious about placing orders, most of them turn to purchase actively with the positive anticipation for the market prospect. On Tuesday, a client required purchasing 200t at MYR3,250/t (USD725/t), but we refused, and he finally accepted MYR3,300/t (USD736/t)," disclosed the trader. Considering that it takes time for the downstream demand to improve thoroughly and materials purchased at higher prices in January do not arrive, he predicts firm prices of HRC in the upcoming several days.
Based on the regular monthly sales volume of 5,000t, the trader recorded the total sales volume of around 10,000t in February, up from 4,000t in January. The trader sold around 51,000t in 2022, without any stock right now.
"We moved up the price of HRC SS400 3.0mm*1,250mm*C to MYR3,300/t (USD736/t) on Monday and end users accepted the price increase easily. On Tuesday, a regular client bought 40t of the material at MYR3,300/t (USD736/t), while he just bought 15-20t at one single time in early February," noted a local trader. According to him, the continuous price increases in major HRC supplying countries and the improving demand in the USA and Europe strengthen market participants' confidence and encourage end users to place orders actively. "More and more end users holding wait-and-see attitudes previously sent inquiries this week," added the trader. Nevertheless, considering that the downstream demand remains not strong enough, the trader believes prices of HRC powerless to go up further and might keep firm in the forthcoming several days.
Holding around 300t in stock, the trader sold 400t of HRC in February, up from 300t in January. With the typical monthly sales volume of 500t, he recorded the sales volume of around 5,000t in 2022.
Another local trader confirms the rising price signal. Quoting MYR3,300/t (USD736/t) for HRC SS400 3.0mm*1,250mm*C, he refused to give any discounts this week, while could accept the concession of around MYR50/t (USD11/t) last week. "Though some end users remain cautious about placing orders, most of them turn to purchase actively with the positive anticipation for the market prospect. On Tuesday, a client required purchasing 200t at MYR3,250/t (USD725/t), but we refused, and he finally accepted MYR3,300/t (USD736/t)," disclosed the trader. Considering that it takes time for the downstream demand to improve thoroughly and materials purchased at higher prices in January do not arrive, he predicts firm prices of HRC in the upcoming several days.
Based on the regular monthly sales volume of 5,000t, the trader recorded the total sales volume of around 10,000t in February, up from 4,000t in January. The trader sold around 51,000t in 2022, without any stock right now.
