Thai HRC prices edge down
2023-03-31 08:15:44 [Print]
BEIJING (Asian Metal) 31 Mar 23 - Discouraged by the price decline in China and the poor sales performance, HRC traders in Thailand moved down prices slightly this week. Presently, the mainstream prices of HRC SS400 3.0mm*1,500mm hover at THB25,700-26,000/t (USD750-759/t) D/P in warehouse Bangkok, down by around THB300/t (USD9/t) compared with late last week. Insiders foresee narrowly stable prices in the coming several days seeing the watchful atmosphere of traders.
"HRC export prices from China decreased by about USD20/t in recent one week, together with the slow market, forcing us to move down prices," disclosed a local trader, offering THB26,000/t (USD759/t) for HRC SS400 3.0mm*1,500mm. "Adopting wait-and-see attitudes towards the market prospect, end users remain inactive in purchasing and keep cutting ideal purchasing prices. On Thursday, a regular buyer required purchasing 50t at THB25,700/t (USD750/t), and we had to accept dragged by the poor sales performance, while we insisted on THB26,200/t (USD765/t) late last week," complained the trader. In the meantime, he disclosed that the approach of the Songkran Festival weakened downstream customers' purchasing activities to some extent as workers would take the holiday in advance, on around April 7. The trader predicts stable prices of HRC in the coming several days, believing even a further price drop hard to boost the market.
Holding around 2,200t of stocks, the trader might sell 1,800t in March, up from 1,500t in February. With the regular sales volume of 2,100tpm, he estimates that the sales volume would achieve 5,100t in the first quarter of 2023, against 25,000t in 2022.
Another local trader confirms the decreasing prices, quoting THB26,000/t (USD759/t) without concession for HRC SS400 3.0mm*1,500mm, while insisted on THB26,300/t (USD768/t) late last week. Attributing the price decline to the slow market, the trader revealed that end users postponed purchasing seeing the arrival of the Songkran Festival. Besides, traders keep eager to withdraw capitals before the holiday. "Actually, the EXW prices from steel mills stand at THB26,300/t (USD768/t) and we suffer losses," disclosed the trader. After tough negotiations, he sold 15t of the material at THB26,300/t (USD768/t) on Thursday, and last sold 10t at the same price on Tuesday, while could sell 20t a day early this month. Adopting wait-and-see attitude, the trader does not plan to cut prices down further and forecasts stable prices of HRC in the forthcoming several days.
Based on the typical monthly sales volume of 400t, the trader would sell 230t in March, down from 250t in February. The sales volume in the first quarter of 2023 would achieve 760t, against 3,700t more or less in 2022, holding around 600t of inventories at present.
"HRC export prices from China decreased by about USD20/t in recent one week, together with the slow market, forcing us to move down prices," disclosed a local trader, offering THB26,000/t (USD759/t) for HRC SS400 3.0mm*1,500mm. "Adopting wait-and-see attitudes towards the market prospect, end users remain inactive in purchasing and keep cutting ideal purchasing prices. On Thursday, a regular buyer required purchasing 50t at THB25,700/t (USD750/t), and we had to accept dragged by the poor sales performance, while we insisted on THB26,200/t (USD765/t) late last week," complained the trader. In the meantime, he disclosed that the approach of the Songkran Festival weakened downstream customers' purchasing activities to some extent as workers would take the holiday in advance, on around April 7. The trader predicts stable prices of HRC in the coming several days, believing even a further price drop hard to boost the market.
Holding around 2,200t of stocks, the trader might sell 1,800t in March, up from 1,500t in February. With the regular sales volume of 2,100tpm, he estimates that the sales volume would achieve 5,100t in the first quarter of 2023, against 25,000t in 2022.
Another local trader confirms the decreasing prices, quoting THB26,000/t (USD759/t) without concession for HRC SS400 3.0mm*1,500mm, while insisted on THB26,300/t (USD768/t) late last week. Attributing the price decline to the slow market, the trader revealed that end users postponed purchasing seeing the arrival of the Songkran Festival. Besides, traders keep eager to withdraw capitals before the holiday. "Actually, the EXW prices from steel mills stand at THB26,300/t (USD768/t) and we suffer losses," disclosed the trader. After tough negotiations, he sold 15t of the material at THB26,300/t (USD768/t) on Thursday, and last sold 10t at the same price on Tuesday, while could sell 20t a day early this month. Adopting wait-and-see attitude, the trader does not plan to cut prices down further and forecasts stable prices of HRC in the forthcoming several days.
Based on the typical monthly sales volume of 400t, the trader would sell 230t in March, down from 250t in February. The sales volume in the first quarter of 2023 would achieve 760t, against 3,700t more or less in 2022, holding around 600t of inventories at present.
