Malaysian H-beam steel price up
2015-11-13 08:49:42 [Print]
BEIJING (Asian Metal) 13 Nov 15 - H-beam steel market runs slowly in Malaysia at this moment, while local market prices show an upward trend due to the depreciation of ringgit. Mainstream price of H-beam steel SS400 150mm*150mm is MYR2,150-2,200/t (USD493-505/t) for the time being. Considering the weak downstream demand, Insiders don’t believe that Malaysian H-beam steel market will improve much in the near future.
A steel trader in Pahang says that the current price of H-beam steel SS400 150mm*150mm is MYR2,200/t (USD505/t), increasing by MYR50/t (USD11/t) compared with that of last week.
The source tells Asian Metal that the ringgit weakened 1.4 percent to 4.3675 against the US dollar on November 9, making the biggest loss in two months. Since most H-beam steel sold in Malaysia is imported from other Asian countries, local distributors raised their offers and he followed suit. However, he also tells Asian Metal that the demand from local end users remains weak, and his current sales volume is only 50-60tpd against 70-80tpd in October. He doesn’t believe that local H-beam steel market will witness any improvement in the near future.
Another steel trader in Selangor reports that the current price of H-beam steel SS400 150mm*150mm is MYR2,150/t (USD493/t), increasing by MYR50/t (USD11/t) compared with that of last week.
The source tells Asian Metal that the average export price for small sized H-beam steel from China has been stable at USD295-305/t FOB Tianjin Port in recent several weeks. However, lower ringgit drives up his purchasing costs and he has to move up quotations accordingly. He also reports a dim market without strong downstream demand. According to him, his current sales volume is only 30-50tpd against 60-80tpd during the corresponding period of last year. He foresees a sluggish H-beam steel market in following several weeks.
A steel trader in Pahang says that the current price of H-beam steel SS400 150mm*150mm is MYR2,200/t (USD505/t), increasing by MYR50/t (USD11/t) compared with that of last week.
The source tells Asian Metal that the ringgit weakened 1.4 percent to 4.3675 against the US dollar on November 9, making the biggest loss in two months. Since most H-beam steel sold in Malaysia is imported from other Asian countries, local distributors raised their offers and he followed suit. However, he also tells Asian Metal that the demand from local end users remains weak, and his current sales volume is only 50-60tpd against 70-80tpd in October. He doesn’t believe that local H-beam steel market will witness any improvement in the near future.
Another steel trader in Selangor reports that the current price of H-beam steel SS400 150mm*150mm is MYR2,150/t (USD493/t), increasing by MYR50/t (USD11/t) compared with that of last week.
The source tells Asian Metal that the average export price for small sized H-beam steel from China has been stable at USD295-305/t FOB Tianjin Port in recent several weeks. However, lower ringgit drives up his purchasing costs and he has to move up quotations accordingly. He also reports a dim market without strong downstream demand. According to him, his current sales volume is only 30-50tpd against 60-80tpd during the corresponding period of last year. He foresees a sluggish H-beam steel market in following several weeks.
