Thai HRC market dim
2024-04-04 07:24:06 [Print]
BEIJING (Asian Metal) 4 Apr 24 - As end users strictly purchase from hand to mouth, the HRC market in Thailand runs slowly this week, and prices decrease. Currently, the mainstream prices of HRC SS400 3.0mm*1,500mm hover at THB23,400-24,000/t (USD638-655/t) D/P in warehouse Bangkok, down by around THB300/t (USD8/t) from late last week. Insiders foresee stable prices in the following several days upon the wait-and-see attitudes of traders.
"Dragged by the poor sales performance, one of the three local HRC producers announced the decision to cut HRC ex-works prices for April shipment to THB22,900/t (USD625/t) this week from THB23,500/t (USD641/t) in March," noted a local trader. According to him, the demand from downstream industries remains soft, and end users keep inactive in purchasing, believing prices of HRC would go down further after the Songkan Festival holiday (April 12-17). The trader did not conclude any deals on Wednesday, and sold 100t of HRC SS400 3.0mm*1,500mm at THB23,700/t (USD646/t) on Tuesday, while insisted on THB24,000/t (USD655/t) late last week. The trader does not plan to adjust prices and predicts flat prices of HRC in the forthcoming several days.
Based on the typical sales volume of 2,500tpm, the trader estimates that the sales volume would achieve 800t in April, down from 1,000t in March. He sold 20,600t of HRC in 2023 and 5,000t in the first quarter of 2024, without any inventories for the moment.
"The market runs slowly, amid participants' wait-and-see attitudes towards the market prospect. We tried to contact with regular clients on Wednesday, but they remained reluctant to place orders seeing the price decline in China and local steel mills," revealed another local trader, who sold 100t of THB24,000/t (USD655/t) on Wednesday, while refused to sell at prices below THB24,100/t (USD657/t) late last week. Meanwhile, the trader pointed out that the continuous price declines in China weaken the purchasing enthusiasms of local end users to some degree. Besides, traders face rising capital pressures due to the poor sales performance. The trader thinks local HRC prices would keep flat in the following several days upon the approach of the Songkan Festival.
Adopting wait-and-see attitude towards the market prospect, the trader did not supplement inventories this week, and holds around 2,000t in stock for the moment. Based on the regular monthly sales volume of 2,100t, he would sell 1,700t in April, down from 2,100t in March. The trader sold about 25,400t in 2023 and 7,300t from January to March of 2024.
"Dragged by the poor sales performance, one of the three local HRC producers announced the decision to cut HRC ex-works prices for April shipment to THB22,900/t (USD625/t) this week from THB23,500/t (USD641/t) in March," noted a local trader. According to him, the demand from downstream industries remains soft, and end users keep inactive in purchasing, believing prices of HRC would go down further after the Songkan Festival holiday (April 12-17). The trader did not conclude any deals on Wednesday, and sold 100t of HRC SS400 3.0mm*1,500mm at THB23,700/t (USD646/t) on Tuesday, while insisted on THB24,000/t (USD655/t) late last week. The trader does not plan to adjust prices and predicts flat prices of HRC in the forthcoming several days.
Based on the typical sales volume of 2,500tpm, the trader estimates that the sales volume would achieve 800t in April, down from 1,000t in March. He sold 20,600t of HRC in 2023 and 5,000t in the first quarter of 2024, without any inventories for the moment.
"The market runs slowly, amid participants' wait-and-see attitudes towards the market prospect. We tried to contact with regular clients on Wednesday, but they remained reluctant to place orders seeing the price decline in China and local steel mills," revealed another local trader, who sold 100t of THB24,000/t (USD655/t) on Wednesday, while refused to sell at prices below THB24,100/t (USD657/t) late last week. Meanwhile, the trader pointed out that the continuous price declines in China weaken the purchasing enthusiasms of local end users to some degree. Besides, traders face rising capital pressures due to the poor sales performance. The trader thinks local HRC prices would keep flat in the following several days upon the approach of the Songkan Festival.
Adopting wait-and-see attitude towards the market prospect, the trader did not supplement inventories this week, and holds around 2,000t in stock for the moment. Based on the regular monthly sales volume of 2,100t, he would sell 1,700t in April, down from 2,100t in March. The trader sold about 25,400t in 2023 and 7,300t from January to March of 2024.
