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    Rebar prices keep rising in Malaysia

    26 Apr 2016
    BEIJING (Asian Metal) 26 Apr 16 - Rebar prices went up further by MYR50/t (USD13/t) on Monday as steel mills increased prices again on tight supply. The current price of rebar BS4449 GR500Φ16-32mm is MYR2, 300-2,350/t (USD589-602/t) with GST excluded. As there are few imports in local market at the moment, insiders predict it is likely that the price of rebar in Malaysia will continue to go up in the near future.

    A trader in Johor said the price of rebar BS4449 GR500Φ16-32mm is MYR2,300/t (USD589/t) with GST excluded, increasing by MYR50/t (USD13/t) compared with that of last Friday. According to the source, Southern Steel announced to hike rebar prices by MYR50/t (USD13/t) on Monday. “The mill asked MYR2,250/t (USD577/t) for rebar with the above mentioned size,” said the source, adding that the price increased by around MYR100/t (USD26/t) last Friday.

    Noted by the source, the government has been strict with imports in recent two months. “There were few imports in Malaysia in March and April. It is reported that some imports will arrive at ports in June,” he said, predicting that prices are likely to go on rising in the coming month. The source revealed that he has 500 tons in hand for the time being, less than the regular level of 1,500 tons in 2015. He pointed out that it is at risk by holding large stocks even though prices are on the upward trend at present, worrying about a sharp price drop. His sales volume was about 1,200 tons in March and it is predicted to be 1,000 tons in April.

    A trader in Selangor reported that current prices for rebar BS4449 GR500Φ10-12mm and Φ16-32mm are MYR2,550/t (USD654/t) and MYR2,350/t (USD602/t) with GST excluded, both increasing by MYR50/t (USD13/t) compared with those of last Friday. The source revealed that materials are delivered from Ann Joo Steel. “Steel mills in Malaysia averagely increase rebar prices by MYR50/t (USD13/t) every day,” said the source.
     
    He stated that even though the supply for rebar especially small bar is still very tight at present, traders are worried about a sudden price drop. As a consequence, traders prefer to hold small stocks and sell materials when customers place orders. The source revealed that he has 300 tons in hand, far less than the regular level of 1,000 tons two months ago. He reported that his sales volume was about 1,200 tons in March and it is 1,000 tons up to date this month.
     
     
    Source from: http://www.asianmetal.com/news/data/1290103/

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