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Thai steel plate market slow

Thai steel plate market slow
Issue Time:2015-12-11
 

         11 Dec 15 - The steel plate market runs quietly in Thailand at themoment, though

          the price rises s lightly boosted by the news that the governmentannounced to continue to levy 35%

          guarantee tax on import steel plate. Currently the mainstream price of S275 JR 12-20mm from local mills

          is THB14 ,500-15,000/t (USD403-4 17/t) 7% vat excluded, ris ing byTHB500/t (USD13.9/t) over last week.

           Ins iders do not think the price can go up further in following two orthree days .

           Atrader in Ayutthaya tells As ian Metal that his quotation for S275 JR 12-20mmfrom local mills is

          THB14 ,500/t (USD403/t) 7% vat excluded, up by THB500/t (USD13.9/t) overlast week.

          With the current sales volume of 20-30tpd, against 70-80tpd at thebeginning of the year, the source

           shows no confidence in the market outlook and he is worried about a pricedecline in the s hort term .

          According to him , traders lifted quotations tentatively cons ideringthe competition of cheaper materials

          from China will be lightened s ince the government decided to continueto levy 35% guarantee tax on

          import steel plate, but the rigid demand from downstream industriesremains weak in the traditional off-

          season. In addition, he states that it is said that Chinese governmentwill cut steel billet export duty from

          the current 25% to 20% from January 1, 20 16, which means the productioncost s upport for mills in

          Thailand and other countries will be weakened.

          Another trader in Muang offers THB15,000/t (USD4 17/t) 7% vat excludefor S275 JR 12-20mm from local

          mills , and for materials from China, the price is THB14 ,000/t(USD389/t) 7% vat exclude, both increas ing

          by THB500/t (USD13.9/t) compared with last week.

           Holding a low stock of 2,000t in hand at the moment, against 4 ,000t inQ2 and Q3, the source does not

          plan to s upplement the inventory in remaining days of this month, forfear of a price falling back. Noted by

          him , although the overall price rises s uccessfully because of thestimulant policies from the government,

          most downstream customers are inactive in placing orders in view ofdecreas ing prices of raw materials

          like iron ore and steel billet worldwide. His sales volume is j ust200tpd right now , against the proj ected

          level of 400tpd. As a consequence, the source does not believe the pricecan keep ris ing in the near

           future.

 
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