Malaysian HRC prices decrease
2023-04-20 08:18:53 [Print]
BEIJING (Asian Metal) 20 Apr 23 - HRC traders in Malaysia moved down prices in succession this week dragged by the slow market and the downward price trend from major HRC supplying countries. At present, the mainstream prices of HRC SS400 3.0mm*1,250mm*C hover at MYR3,100-3,200/t (USD699-722/t) D/P in warehouse Kuala Lumpur, down by MYR100/t (USD23/t) from late last week. Insiders predict further price decline in the coming several days seeing the sluggish demand.
"The market runs quietly in the Ramadan. Besides, the continuous price declines in China weakened downstream customers' purchasing activities. Discouraged by the poor sales performance, we have to cut prices," disclosed a local trader. Quoting MYR3,200/t (USD722/t) for HRC SS400 3.0mm*1,250mm*C, he refused to sell at prices below MYR3,300/t (USD744/t) late last week. In the meantime, the trader disclosed that end users remain inactive in purchasing dragged by insufficient orders for final products. "We tried to contact with several regular clients this week, but most of them showed little intention in purchasing, complaining the business hard to run," stated the trader, who just sold 20t of the material at MYR3,200/t (USD722/t) on Wednesday and last sold 30t at the same price on Monday. The trader worries prices of HRC would edge down further in the forthcoming several days upon the low purchasing activities of downstream customers
Holding about 10,000t of inventories, the trader might just sell 1,300t in April, down from 2,500t in March. With the regular sales volume of 3,000tpm, he roughly sold 6,000t in the first quarter of 2023, against 23,600t in 2022.
Another local trader confirms the decreasing prices, offering MYR3,100/t (USD699/t) without concession for HRC SS400 3.0mm*1,250mm*C, while insisted on MYR3,200/t (USD722/t) late last week. Attributing the price decline to the continuous price decreases from major HRC supplying countries, the trader disclosed that HRC producers in Vietnam moved down HRC export prices to USD675/t CFR Malaysia this month from USD740/t of last month, and those from China decreased prices by about USD60/t in recent one month. Besides, the demand from downstream industries remains soft with the absence of new projects. "We have to cut prices with the arrival of new materials," added the trader. He did not close any deals in recent one week, and last sold 200t at MYR3,300/t (USD744/t) early last week. The trader adopts pessimistic attitude towards the market prospect and deems prices of HRC would go down further in the forthcoming several days in view of the slow market.
Based on the typical monthly sales volume of 5,000t, the trader estimates that the sales volume would reach 3,000t in April, identical to March. He recorded the sales volume of approximately 17,000t in the first quarter of 2023 and 51,000t or so in 2022. The trader does not hold any stocks for the moment.
"The market runs quietly in the Ramadan. Besides, the continuous price declines in China weakened downstream customers' purchasing activities. Discouraged by the poor sales performance, we have to cut prices," disclosed a local trader. Quoting MYR3,200/t (USD722/t) for HRC SS400 3.0mm*1,250mm*C, he refused to sell at prices below MYR3,300/t (USD744/t) late last week. In the meantime, the trader disclosed that end users remain inactive in purchasing dragged by insufficient orders for final products. "We tried to contact with several regular clients this week, but most of them showed little intention in purchasing, complaining the business hard to run," stated the trader, who just sold 20t of the material at MYR3,200/t (USD722/t) on Wednesday and last sold 30t at the same price on Monday. The trader worries prices of HRC would edge down further in the forthcoming several days upon the low purchasing activities of downstream customers
Holding about 10,000t of inventories, the trader might just sell 1,300t in April, down from 2,500t in March. With the regular sales volume of 3,000tpm, he roughly sold 6,000t in the first quarter of 2023, against 23,600t in 2022.
Another local trader confirms the decreasing prices, offering MYR3,100/t (USD699/t) without concession for HRC SS400 3.0mm*1,250mm*C, while insisted on MYR3,200/t (USD722/t) late last week. Attributing the price decline to the continuous price decreases from major HRC supplying countries, the trader disclosed that HRC producers in Vietnam moved down HRC export prices to USD675/t CFR Malaysia this month from USD740/t of last month, and those from China decreased prices by about USD60/t in recent one month. Besides, the demand from downstream industries remains soft with the absence of new projects. "We have to cut prices with the arrival of new materials," added the trader. He did not close any deals in recent one week, and last sold 200t at MYR3,300/t (USD744/t) early last week. The trader adopts pessimistic attitude towards the market prospect and deems prices of HRC would go down further in the forthcoming several days in view of the slow market.
Based on the typical monthly sales volume of 5,000t, the trader estimates that the sales volume would reach 3,000t in April, identical to March. He recorded the sales volume of approximately 17,000t in the first quarter of 2023 and 51,000t or so in 2022. The trader does not hold any stocks for the moment.
