H-beam steel prices are temporarily stable in Singapore, while the market is not active without strong downstream demand. Insiders believe that the H-beam steel market will remain sluggish for some time.
A local steel trader said that the current price of H-beam steel S275JR 200mm*200mm imported from Thailand is SGD824/t (USD650/t), unchanged compared with that of last week.
The source imported most of his H-beam steel from Thailand, and he told Asian Metal that Thai producers haven’t adjusted ex-works prices this month till now. Therefore, he prefers to keep offers unchanged temporarily despite the dim market. According to him, the demand from downstream buyers is quite weak and local market prices have decreased a lot in past several months. Holding a small inventory of 1,000t against the regular level of 2,000t, he prefers to hold a cautious attitude towards the forthcoming market.
Another local steel trader reported that the current selling price of H-beam steel S275JR 200mm*200mm imported from China is SGD804/t (USD630/t), unchanged compared with that of last week.
The source reveals that local H-beam steel market has been running slowly for a long time, and end users are cautious about placing orders at this moment. To avoid risks, he almost has no stock in hand now, while the regular inventory in the previous years can reach 4,000-5,000t. Not seeing any signs of demand releasing, he is pessimistic about the coming market.