Malaysian steel plate price down
Steel plate prices in Malays ia decreased by MYR50/t (USD11.9/t) this week, dragged down by the s low market as well as traders ’ pess imistic attitudes . Currently the mainstream price of S275JR 14-25mm from local mills is around MYR1,800/t (USD427/t) 6% GST excluded. Ins iders foresee a stable price next week. A trader in Selangor tells As ian Metal that his quotation for S275JR 14-25mm from local mills is MYR1,800/t (USD427/t) 6% GST excluded, down by MYR50/t (USD11.9/t) over last week. Attributing the price decline to the unsatisfactory market performance, the source discloses that the bus iness is hard to run this year, and his sales revenue has s hrunk by 18% this year to date compared with that of last year. Noted by him , November s hould be the traditional peak season locally, but the market continues to be quiet with the demand from downstream industry remaining weak. With a proj ected sales volume of 250t per month, he estimates it will be around 50t in November. Another trader also in Selangor offers MYR1,800/t (USD427/t) 6% GST excluded for S275JR 14-25mm from local mills , decreas ing by MYR50/t (USD11.9/t) over last week. The source is worried about another price decline in the near future in view of the inactive market. His sales volume is j ust 20-30tpd, while it was 70-80tpd at the beginning of the year. Meanwhile, he states that with the approach of the end of the year, most traders are burdened with heavier capital press ures and they are eager to conclude deals . Bes ides , the source discloses that the market performance s hows no s igns of making improvement after the price decline.