Thai HRC prices go up
2023-03-10 08:31:06 [Print]
BEIJING (Asian Metal) 10 Mar 23 - After the price markup of around THB500/t (USD14/t) last week, both producers and traders of HRC in Thailand raised prices actively this week boosted by the rising prices in the international market. The current prevailing prices of HRC SS400 3.0mm*1,500mm stand at THB26,000-26,500/t (USD741-755/t) D/P in warehouse Bangkok, up by THB300/t (USD9/t) compared with late last week. Insiders foresee firm prices of HRC in the coming several days seeing the low purchasing activities of downstream customers.
"Supplier offers as high as THB26,200/t (USD747/t) for HRC SS400 3.0mm*1,500mm at the moment boosted by the price increase from local steel mills, while they could accept THB25,900/t (USD738/t) late last week. We last bought 200t at THB24,800/t (USD707/t) two weeks ago," noted a local consumer. "We required purchasing 500t at THB25,700/t (USD732/t) on Thursday, but the supplier refused. We believe he would finally accept THB26,000/t (USD741/t) late this week," added the consumer. Reporting losses, he strictly purchases according to orders for final products and refuses to build any stock now, while held stock of around 300t in January. The consumer believes prices of HRC powerless to go up further and might stabilize in the coming several days seeing the slow market.
Based on the monthly consumption capacity of 1,000t, the consumer might consume 700t in March, against 500t in February. He roughly consumed 1,100t in the first two months of the year and 9,500t in 2022.
"One of local steel mills announced the decision to move up HRC EXW prices by THB1,000/t (USD29/t) to THB26,300/t (USD750/t) this week, so we followed suit," revealed a local trader. Quoting THB26,300/t (USD750/t) without concession for HRC SS400 3.0mm*1,500mm, he last sold 200t at THB26,000/t (USD741/t) late last week. According to him, end users refused to accept the price rise last week, complaining suffering losses. This week, they realized the upward price trend following the international market, but kept cautious about purchasing dragged by the insufficient orders for final products. "Regular clients believe THB25,000/t (USD713/t) is the reasonable price for HRC," complained the trader, who sold 100t of the material at THB26,300/t (USD750/t) on Thursday. Considering that it takes time for end users to accept the continuous price increases, the trader predicts stable prices of HRC in the forthcoming several days.
With the regular monthly sales volume of 2,500t, the trader estimates that the sales volume would reach 4,000t in March. He recorded the total sales volume of around 4,000t from January to February of 2023 and 28,000t or so in 2022, holding zero stock right now.
"Supplier offers as high as THB26,200/t (USD747/t) for HRC SS400 3.0mm*1,500mm at the moment boosted by the price increase from local steel mills, while they could accept THB25,900/t (USD738/t) late last week. We last bought 200t at THB24,800/t (USD707/t) two weeks ago," noted a local consumer. "We required purchasing 500t at THB25,700/t (USD732/t) on Thursday, but the supplier refused. We believe he would finally accept THB26,000/t (USD741/t) late this week," added the consumer. Reporting losses, he strictly purchases according to orders for final products and refuses to build any stock now, while held stock of around 300t in January. The consumer believes prices of HRC powerless to go up further and might stabilize in the coming several days seeing the slow market.
Based on the monthly consumption capacity of 1,000t, the consumer might consume 700t in March, against 500t in February. He roughly consumed 1,100t in the first two months of the year and 9,500t in 2022.
"One of local steel mills announced the decision to move up HRC EXW prices by THB1,000/t (USD29/t) to THB26,300/t (USD750/t) this week, so we followed suit," revealed a local trader. Quoting THB26,300/t (USD750/t) without concession for HRC SS400 3.0mm*1,500mm, he last sold 200t at THB26,000/t (USD741/t) late last week. According to him, end users refused to accept the price rise last week, complaining suffering losses. This week, they realized the upward price trend following the international market, but kept cautious about purchasing dragged by the insufficient orders for final products. "Regular clients believe THB25,000/t (USD713/t) is the reasonable price for HRC," complained the trader, who sold 100t of the material at THB26,300/t (USD750/t) on Thursday. Considering that it takes time for end users to accept the continuous price increases, the trader predicts stable prices of HRC in the forthcoming several days.
With the regular monthly sales volume of 2,500t, the trader estimates that the sales volume would reach 4,000t in March. He recorded the total sales volume of around 4,000t from January to February of 2023 and 28,000t or so in 2022, holding zero stock right now.
