Thai wire rod prices up
2023-03-17 07:48:56 [Print]
BEIJING (Asian Metal) 16 Mar 23 - Supported by reduced supply and higher prices for imported materials, wire rod prices in Thailand went up this week. The current mainstream prices for wire rod JIS SWRM15 Φ6.5mm hover at THB24,200-24,500/t (USD703-712/t) Ex-VAT, up by THB400/t (USD12/t) from one week ago. Upon firm cost but weak demand from downstream clients, insiders predict wire rod prices in Thailand would remain flat in the coming week.
A wire rod consumer in South Thailand received an offer of THB24,200/t (USD703/t) without concession for wire rod JIS SWRM15 Φ6.5mm this Thursday but he did not place orders. "I last purchased around 700t of the material at THB23,700/t (USD689/t) one week ago," he said, adding that prices of imported wire rod from Malaysia went up by around USD10/t to USD680/t CFR Thailand this week, which made local steel mills gain confidence in raising prices. However, the demand from downstream industries did not grow at all. His consumption amount for wire rod would reach about 1,200t in March, down by 200t from February. Given limited demand but firm prices of imported materials, wire rod prices in Thailand would keep stable in the forthcoming week.
The company, reporting an annual consumption capacity of 25,000t, used nearly 20,000t of wire rod in 2022. It holds an inventory of almost 1,500t at present, in line with two weeks ago.
A wire rod producer in South Thailand quoted THB24,500/t (USD712/t) for wire rod JIS SWRM15 Φ6.5mm this Thursday and refused bids below THB24,400/t (USD709/t). "I could accept bids no less than THB24,000/t (USD698/t) one week ago," he said, adding that he last sold around 800t of the material at THB24,000/t (USD698/t) late last week. The company reduced low carbon wire rod output by around 67% MoM to 5,000t this month and produced more high carbon wire rod to avoid potential loss, as raw materials' prices increased faster than wire rod prices. However, the demand failed to pick up obviously amid the price hike in past one month. He is of the opinion that wire rod prices would remain flat in the coming week.
Reporting an annual production capacity of 250,000t for wire rod, the company produced almost 200,000t of the material in 2022. It recorded an output of around 20,000t in the first two months of this year, holding an inventory of roughly 6,000t at present, down by 4,000t from one month ago.
A wire rod consumer in South Thailand received an offer of THB24,200/t (USD703/t) without concession for wire rod JIS SWRM15 Φ6.5mm this Thursday but he did not place orders. "I last purchased around 700t of the material at THB23,700/t (USD689/t) one week ago," he said, adding that prices of imported wire rod from Malaysia went up by around USD10/t to USD680/t CFR Thailand this week, which made local steel mills gain confidence in raising prices. However, the demand from downstream industries did not grow at all. His consumption amount for wire rod would reach about 1,200t in March, down by 200t from February. Given limited demand but firm prices of imported materials, wire rod prices in Thailand would keep stable in the forthcoming week.
The company, reporting an annual consumption capacity of 25,000t, used nearly 20,000t of wire rod in 2022. It holds an inventory of almost 1,500t at present, in line with two weeks ago.
A wire rod producer in South Thailand quoted THB24,500/t (USD712/t) for wire rod JIS SWRM15 Φ6.5mm this Thursday and refused bids below THB24,400/t (USD709/t). "I could accept bids no less than THB24,000/t (USD698/t) one week ago," he said, adding that he last sold around 800t of the material at THB24,000/t (USD698/t) late last week. The company reduced low carbon wire rod output by around 67% MoM to 5,000t this month and produced more high carbon wire rod to avoid potential loss, as raw materials' prices increased faster than wire rod prices. However, the demand failed to pick up obviously amid the price hike in past one month. He is of the opinion that wire rod prices would remain flat in the coming week.
Reporting an annual production capacity of 250,000t for wire rod, the company produced almost 200,000t of the material in 2022. It recorded an output of around 20,000t in the first two months of this year, holding an inventory of roughly 6,000t at present, down by 4,000t from one month ago.
