Thai HRC prices edge up
2023-03-03 08:21:23 [Print]
BEIJING (Asian Metal) 3 Mar 23 - Boosted by the rising prices from steel mills and those of raw materials, HRC traders in Thailand moved up prices tentatively this week, but the market performance failed to improve. At present, the mainstream prices of HRC SS400 3.0mm*1,500mm hover at THB25,500-26,200/t (USD732-752/t) D/P in warehouse Bangkok, up by THB300/t (USD9/t) from late last week. Considering that the demand from downstream industries remains soft, insiders forecast stable prices of HRC in the coming several days.
"The exchange rate between Thai baht and U.S. dollars depreciated by around 3% in recent one week, leading to the rising prices of imported raw materials. Therein, prices of steel scrap rose to THB15,400/t (USD442/t) this week from THB14,500/t (USD416/t) of last week. Therefore, we lifted prices of HRC tentatively," noted a local trader. Quoting THB26,000/t (USD746/t) without concession for HRC SS400 3.0mm*1,500mm, he could accept the price as low as THB25,700/t (USD738/t) late last week. According to him, importers also lifted prices actively boosted by the increasing prices in the international market as well as the positive anticipation in China. However, end users kept inactive in purchasing dragged by insufficient orders for final products. "We sold around 60t of the material at THB26,000/t (USD746/t) on Thursday, and last sold 50t at THB25,700/t (USD738/t) on Monday, while the sales target stands at 80t," added the trader. Upon the low purchasing activities of downstream customers, he believes prices of HRC powerless to edge up further and might keep stable in the following several days.
The trader sold around 1,500t in February, down from 1,800t in January. Based on the typical monthly sales volume of 2,100t, he recorded the sales volume of around 25,000t in 2022.
"Steel mills raised HRC EXW prices to THB26,200-26,500/t (USD752-761/t) this week boosted by the rising production costs, encouraging us to lift prices. Now, we offer THB26,200/t (USD752/t) for HRC SS400 3.0mm*1,500mm and refuse any discounts, against THB25,900/t (USD743/t) negotiable late last week," stated another local trader. Meanwhile, he disclosed that the confidence of market participants strengthened by the continuous price increases in the international market. "Reporting insufficient orders for final products, end users remain cautious about purchasing. A regular buyer bought 15t of the material at THB26,200/t (USD752/t) on Thursday after the last purchase of 15t last week, while he at least bought 50t at one single time previously," disclosed the trader. He predicts stable prices of HRC in the upcoming several days seeing the slow market.
With around 400t of inventories, the trader recorded the sales volume of around 250t in February, against 280t in January. Reporting the regular monthly sales volume of 400t, the trader roughly sold 3,700t in 2022.
"The exchange rate between Thai baht and U.S. dollars depreciated by around 3% in recent one week, leading to the rising prices of imported raw materials. Therein, prices of steel scrap rose to THB15,400/t (USD442/t) this week from THB14,500/t (USD416/t) of last week. Therefore, we lifted prices of HRC tentatively," noted a local trader. Quoting THB26,000/t (USD746/t) without concession for HRC SS400 3.0mm*1,500mm, he could accept the price as low as THB25,700/t (USD738/t) late last week. According to him, importers also lifted prices actively boosted by the increasing prices in the international market as well as the positive anticipation in China. However, end users kept inactive in purchasing dragged by insufficient orders for final products. "We sold around 60t of the material at THB26,000/t (USD746/t) on Thursday, and last sold 50t at THB25,700/t (USD738/t) on Monday, while the sales target stands at 80t," added the trader. Upon the low purchasing activities of downstream customers, he believes prices of HRC powerless to edge up further and might keep stable in the following several days.
The trader sold around 1,500t in February, down from 1,800t in January. Based on the typical monthly sales volume of 2,100t, he recorded the sales volume of around 25,000t in 2022.
"Steel mills raised HRC EXW prices to THB26,200-26,500/t (USD752-761/t) this week boosted by the rising production costs, encouraging us to lift prices. Now, we offer THB26,200/t (USD752/t) for HRC SS400 3.0mm*1,500mm and refuse any discounts, against THB25,900/t (USD743/t) negotiable late last week," stated another local trader. Meanwhile, he disclosed that the confidence of market participants strengthened by the continuous price increases in the international market. "Reporting insufficient orders for final products, end users remain cautious about purchasing. A regular buyer bought 15t of the material at THB26,200/t (USD752/t) on Thursday after the last purchase of 15t last week, while he at least bought 50t at one single time previously," disclosed the trader. He predicts stable prices of HRC in the upcoming several days seeing the slow market.
With around 400t of inventories, the trader recorded the sales volume of around 250t in February, against 280t in January. Reporting the regular monthly sales volume of 400t, the trader roughly sold 3,700t in 2022.
