Chinese non-grain oriented electrical steel market to remain dim
2013-05-06 08:57:18 [Print]
BEIJING (Asian Metal) 6 May 13 – Prices of non-grain oriented electrical steel are stable at this moment, while the market is not active without the support of demand
A sales manager of a trading company in Shanghai reports to Asian Metal that the price of 50WW800 0.5mm*1,200mm*C from WISCO is RMB5,750/t (VAT included), unchanged compared with that of the previous trading day.
The purchasing managers index (PMI) for the non-manufacturing sector stood at 54.5 percent in April, down 1 . 1 percentage points from the previous month, the National Bureau of Statistics said in an online statement . The source also confirms that the downstream industry of electrical appliance runs slowly at this moment, and it is likely to become more sluggish in May according to the past experience . With a sales volume of 60tpd against the target one of 200tpd, he is unconfident of the coming market.
A sales manager of a trading company in Wuhan, Hubei Province tells Asian Metal that the price of 50WW800 0.5mm*1,200mm*C from WISCO is RMB5,600/t (VAT included), unchanged compared with that of the last trading day.
In the January-March period of this year, China's aggregate crude steel output totaled 191.89 million mt, up 9 . 1 percent year on year, as announced by China's National Development and Reform Commission (NDRC) . In contrast to the soaring steel supply is the soft downstream demand, which is even becoming weaker these days . Currently, his sales volume is only 30-40tpd, while the target one is 80-100tpd . Under a condition like this, he is pessimistic about the coming market.
A sales manager of a trading company in Foshan, Guangdong Province explains to Asian Metal the offer for 50MW800 0.5mm*1,200mm*C from Masteel is RMB5,450/t (VAT included), equaling to that of the previous trading day.
The source tells that WISCO announced its financial reports of 2012 and Q1 in 2013. According to the reports, the total net profit of WISCO was RMB0 . 12 billion in 2012, down by 80% year-on-year; however, the number is over RMB0 . 2379 billion in Q1 of 2013, soaring by 450% . Though the mill turns from deficit to profit, domestic electrical steel traders are still facing a hard time at this moment, and many of them has abandoned the business of electrical steel due to giant losses . To avoid risks, he only holds a small inventory of 300-400t against the target one of 1,000t . According to him, the market is hard to recover in a short term.
. Insiders suppose that the market will keep slow within a short period.
A sales manager of a trading company in Shanghai reports to Asian Metal that the price of 50WW800 0.5mm*1,200mm*C from WISCO is RMB5,750/t (VAT included), unchanged compared with that of the previous trading day.
The purchasing managers index (PMI) for the non-manufacturing sector stood at 54.5 percent in April, down 1 . 1 percentage points from the previous month, the National Bureau of Statistics said in an online statement . The source also confirms that the downstream industry of electrical appliance runs slowly at this moment, and it is likely to become more sluggish in May according to the past experience . With a sales volume of 60tpd against the target one of 200tpd, he is unconfident of the coming market.
A sales manager of a trading company in Wuhan, Hubei Province tells Asian Metal that the price of 50WW800 0.5mm*1,200mm*C from WISCO is RMB5,600/t (VAT included), unchanged compared with that of the last trading day.
In the January-March period of this year, China's aggregate crude steel output totaled 191.89 million mt, up 9 . 1 percent year on year, as announced by China's National Development and Reform Commission (NDRC) . In contrast to the soaring steel supply is the soft downstream demand, which is even becoming weaker these days . Currently, his sales volume is only 30-40tpd, while the target one is 80-100tpd . Under a condition like this, he is pessimistic about the coming market.
A sales manager of a trading company in Foshan, Guangdong Province explains to Asian Metal the offer for 50MW800 0.5mm*1,200mm*C from Masteel is RMB5,450/t (VAT included), equaling to that of the previous trading day.
The source tells that WISCO announced its financial reports of 2012 and Q1 in 2013. According to the reports, the total net profit of WISCO was RMB0 . 12 billion in 2012, down by 80% year-on-year; however, the number is over RMB0 . 2379 billion in Q1 of 2013, soaring by 450% . Though the mill turns from deficit to profit, domestic electrical steel traders are still facing a hard time at this moment, and many of them has abandoned the business of electrical steel due to giant losses . To avoid risks, he only holds a small inventory of 300-400t against the target one of 1,000t . According to him, the market is hard to recover in a short term.