Malaysian HRC prices increase
2023-03-08 08:18:52 [Print]
BEIJING (Asian Metal) 8 Mar 23 - Boosted by the rising import prices from major supplying countries, HRC traders in Malaysia moved up prices actively this week, but end users remained cautious about purchasing facing the continuous price increases. The present mainstream prices of HRC SS400 3.0mm*1,250mm*C stand at MYR3,400-3,550/t (USD760-794/t) D/P in warehouse Kuala Lumpur, up by MYR100/t (USD22/t) compared with late last week. Insiders foresee firm prices in the following several days seeing the low purchasing activities of downstream customers.
"Suppliers lifted prices continuously this week. We planned purchasing 20t of HRC SS400 3.0mm*1,250mm*C on Monday, but suppliers insisted on MYR3,400/t (USD760/t) while could accept MYR3,350/t (USD749/t) late last week. Finally, we only bought 3t at MYR3,400/t (USD760/t). On Tuesday, the supplier hiked offers to MYR3,470/t (USD776/t) and we refused to buy," noted a local consumer. According to him, the rising purchasing costs due to the depreciation of Ringgit encouraged suppliers to move up prices in succession. However, the market runs quietly and orders for final products show no signs of improving. The consumer does not plan to purchase again in the coming week and foresees stable prices of HRC in the following several days seeing the eagerness of lifting prices from suppliers but the dim market.
Holding around 150t in stock, the consumer might consume 90t in March, identical to February. With the monthly consumption capacity of 100t, the consumer roughly consumed 1,100t in 2022, down from 1,600t in 2021.
"The most competitive price we got for HRC SS400 3.0mm*1,250mm*C stands at MYR3,450/t (USD771/t) at the moment, while suppliers could accept MYR3,350/t (USD749/t) late last week," complained another local consumer. According to him, suppliers from major HRC supplying countries lifted prices continuously, and importers keep eager to follow suit with the arrival of materials ordered at high prices in December and January. "Suppliers refuse to give any discounts now, stressing they suffer losses at the current prices," added the consumer, who bought 200t of the material at MYR3,450/t (USD771/t) on Monday, while usually purchases 300t at one single time. In the meantime he disclosed that downstream customers require cutting prices of final products and remain inactive in purchasing now. The consumer believes prices of HRC powerless to go up further and might stabilize in the forthcoming several days.
Based on the consumption capacity of 300tpm, the consumer might consume 250t in March, similar to February. He recorded the consumption volume of approximately 2,700t in 2022, down from 3,400t or so in 2021, holding around 700t in inventory at present.
"Suppliers lifted prices continuously this week. We planned purchasing 20t of HRC SS400 3.0mm*1,250mm*C on Monday, but suppliers insisted on MYR3,400/t (USD760/t) while could accept MYR3,350/t (USD749/t) late last week. Finally, we only bought 3t at MYR3,400/t (USD760/t). On Tuesday, the supplier hiked offers to MYR3,470/t (USD776/t) and we refused to buy," noted a local consumer. According to him, the rising purchasing costs due to the depreciation of Ringgit encouraged suppliers to move up prices in succession. However, the market runs quietly and orders for final products show no signs of improving. The consumer does not plan to purchase again in the coming week and foresees stable prices of HRC in the following several days seeing the eagerness of lifting prices from suppliers but the dim market.
Holding around 150t in stock, the consumer might consume 90t in March, identical to February. With the monthly consumption capacity of 100t, the consumer roughly consumed 1,100t in 2022, down from 1,600t in 2021.
"The most competitive price we got for HRC SS400 3.0mm*1,250mm*C stands at MYR3,450/t (USD771/t) at the moment, while suppliers could accept MYR3,350/t (USD749/t) late last week," complained another local consumer. According to him, suppliers from major HRC supplying countries lifted prices continuously, and importers keep eager to follow suit with the arrival of materials ordered at high prices in December and January. "Suppliers refuse to give any discounts now, stressing they suffer losses at the current prices," added the consumer, who bought 200t of the material at MYR3,450/t (USD771/t) on Monday, while usually purchases 300t at one single time. In the meantime he disclosed that downstream customers require cutting prices of final products and remain inactive in purchasing now. The consumer believes prices of HRC powerless to go up further and might stabilize in the forthcoming several days.
Based on the consumption capacity of 300tpm, the consumer might consume 250t in March, similar to February. He recorded the consumption volume of approximately 2,700t in 2022, down from 3,400t or so in 2021, holding around 700t in inventory at present.
