Chinese non-grain oriented electrical steel price down
2015-08-04 08:40:37 [Print]
BEIJING (Asian Metal) 4 Aug 15 - Chinese non-grain oriented electrical steel market shows no signs of improving and market prices witness a downward trend. Insiders don’t believe that Chinese non-grain oriented electrical steel market will recover in the near future.
A sales manager of a trading company in Shanghai reports to Asian Metal that the price of 50SW800 0.5mm*1,200mm*C from Shougang Steel is RMB3,500/t (USD564/t) VAT included, falling by RMB50/t (USD8/t) compared with that of the previous trading day.
The source discloses that the demand for electrical steel is not strong at all for the time being and local market prices have been decreasing intermittently in past two months. Currently, his quotation is RMB200-250/t (USD32-40/t) lower than that at the end of June. To avoid risks, he has reduced his total stockpile from 5,000t at the beginning of this year to the current one of 2,000-3,000t. He believes that local electrical steel market will remain dim for some time.
Another trader in Wuhan, Hubei Province reports to Asian Metal that the price of 50WW800 0.5mm*1,200mm*C from WISCO is RMB3,600/t (USD580/t) VAT included, decreasing by RMB50/t (USD8/t) compared with that of at the end of last week.
The source tells Asian Metal that most end users are inactive in placing orders with him, and there is no promising news from downstream motor manufacturing industries. He only holds a small inventory of 200-300t at this moment, against that of 700-800t during the corresponding period of last year. He doesn’t believe that electrical steel industry will recover in the foreseeable future.
A sales manager of a trading company in Foshan, Guangdong Province reports to Asian Metal that the offer for 50SW800 0.5mm*1,200mm*C from Shougang Steel is RMB3,600/t (USD580/t) VAT included, falling by RMB50/t (USD8/t) compared with that of the previous trading day.
The source points out that Shougang Steel announced the price policy in the middle of July, reducing the ex-works price of non-grain oriented electrical steel by RMB176/t (USD28/t) for August delivery. Therefore, he says that local traders’ purchasing costs in August are lower than those in July. Since downstream demand is not strong, he is afraid that local market prices will go down further this month. With a total stockpile of 7,000t at this moment, he prefers to hold a cautious attitude towards the coming market.
A sales manager of a trading company in Shanghai reports to Asian Metal that the price of 50SW800 0.5mm*1,200mm*C from Shougang Steel is RMB3,500/t (USD564/t) VAT included, falling by RMB50/t (USD8/t) compared with that of the previous trading day.
The source discloses that the demand for electrical steel is not strong at all for the time being and local market prices have been decreasing intermittently in past two months. Currently, his quotation is RMB200-250/t (USD32-40/t) lower than that at the end of June. To avoid risks, he has reduced his total stockpile from 5,000t at the beginning of this year to the current one of 2,000-3,000t. He believes that local electrical steel market will remain dim for some time.
Another trader in Wuhan, Hubei Province reports to Asian Metal that the price of 50WW800 0.5mm*1,200mm*C from WISCO is RMB3,600/t (USD580/t) VAT included, decreasing by RMB50/t (USD8/t) compared with that of at the end of last week.
The source tells Asian Metal that most end users are inactive in placing orders with him, and there is no promising news from downstream motor manufacturing industries. He only holds a small inventory of 200-300t at this moment, against that of 700-800t during the corresponding period of last year. He doesn’t believe that electrical steel industry will recover in the foreseeable future.
A sales manager of a trading company in Foshan, Guangdong Province reports to Asian Metal that the offer for 50SW800 0.5mm*1,200mm*C from Shougang Steel is RMB3,600/t (USD580/t) VAT included, falling by RMB50/t (USD8/t) compared with that of the previous trading day.
The source points out that Shougang Steel announced the price policy in the middle of July, reducing the ex-works price of non-grain oriented electrical steel by RMB176/t (USD28/t) for August delivery. Therefore, he says that local traders’ purchasing costs in August are lower than those in July. Since downstream demand is not strong, he is afraid that local market prices will go down further this month. With a total stockpile of 7,000t at this moment, he prefers to hold a cautious attitude towards the coming market.
