Monthly Electrical Steel Market Report May 2020
2020-06-05 08:45:48 【Print】
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Prices of non-grain oriented electrical steel in major markets of China rebounded during this month mainly supported by the low market inventory and the price increase of other steel products especially CRC, while those of grain oriented electrical steel kept the downward trend on weak demand
. Mainstream steel mills such as Baosteel, WISCO and Ansteel all reduced the production of NGO electrical steel produced in May due to the decreased orders from customers . The market sales performance continued to be unsatisfying as customers were still purchasing materials for urgent need . Having no confidence in the market outlook, traders were reluctant to build large stockpiles.