Chinese NGO electrical steel prices remain stable
2023-03-23 08:23:01 [Print]
BEIJING (Asian Metal) 23 Mar 23 - Chinese non-grain oriented electrical steel suppliers maintain their prices stable this week on weak demand and high prices of steel mills. The mainstream prices of NGO electrical steel B50A470-A 0.5mm*1,200mm*C from Baosteel stand at RMB6,150-6,200/t (USD893-900/t) D/P in warehouse Shanghai at present, and those of NGO electrical steel SG50W800 0.5mm*1,200mm*C from Shagang Steel hover at RMB5,700-5,750/t (USD828-835/t) D/P in warehouse Zhangjiagang, the same as those of last week. Insiders predict that Chinese NGO electrical steel prices would lack momentum to go up in the coming week.
A distributor of NGO electrical steel in Shanghai reported to Asian Metal that his price for NGO electrical steel B50A470-A 0.5mm*1,200mm*C from Baosteel remains at RMB6,200/t (USD900/t) D/P in warehouse Shanghai without any discounts for the time being, unchanged from last week. "We maintain the price stable this week because of customers' slow buying activities and high prices of steel mills," explained the trader, adding that his customers still purchase materials upon orders at the moment and refuse to build large stockpiles. According to him, he just sold about 30t this week at RMB6,200/t (USD900/t) and last sold around 50t last week at the same price. The trader plans to keep the price unchanged and predicts that Chinese NGO electrical steel prices would remain stable in the coming week.
Based on the regular sales volume of about 3,000tpm, the trader sold about 3,000t last month and expects a stable sales amount in March. Having an inventory of about 1,600t in hand now, up from around 1,000t last month, they sold around 45,000t last year and about 5,000t in the first two months of this year.
A trader of NGO electrical steel in Wuxi with a regular sales volume of about 1,500tpm currently quotes RMB5,750/t (USD835/t) D/P in warehouse Zhangjiagang with no concessions for NGO electrical steel SG50W800 0.5mm*1,200mm*C from Shagang Steel, stable compared with that of last week. "We keep the price stable for the time being on soft demand and high prices of steel mills," said the trader. According to him, because of insufficient orders, customers prefer to take cautious attitudes at the moment and the sales performance remains unsatisfactory. He just sold about 20t this week at RMB5,750/t (USD835/t) and last sold about 30t last week at the same price. The trader intends to maintain his price unchanged and expects Chinese NGO electrical steel prices to keep stable in the coming week.
With a sales volume of about 1,500t last month, which may remain stable this month, the trader sold around 15,000t last year and about 2,500t in the first two months of this year. They have a stockpile of about 700t in hand now, similar to that early this month.
A distributor of NGO electrical steel in Shanghai reported to Asian Metal that his price for NGO electrical steel B50A470-A 0.5mm*1,200mm*C from Baosteel remains at RMB6,200/t (USD900/t) D/P in warehouse Shanghai without any discounts for the time being, unchanged from last week. "We maintain the price stable this week because of customers' slow buying activities and high prices of steel mills," explained the trader, adding that his customers still purchase materials upon orders at the moment and refuse to build large stockpiles. According to him, he just sold about 30t this week at RMB6,200/t (USD900/t) and last sold around 50t last week at the same price. The trader plans to keep the price unchanged and predicts that Chinese NGO electrical steel prices would remain stable in the coming week.
Based on the regular sales volume of about 3,000tpm, the trader sold about 3,000t last month and expects a stable sales amount in March. Having an inventory of about 1,600t in hand now, up from around 1,000t last month, they sold around 45,000t last year and about 5,000t in the first two months of this year.
A trader of NGO electrical steel in Wuxi with a regular sales volume of about 1,500tpm currently quotes RMB5,750/t (USD835/t) D/P in warehouse Zhangjiagang with no concessions for NGO electrical steel SG50W800 0.5mm*1,200mm*C from Shagang Steel, stable compared with that of last week. "We keep the price stable for the time being on soft demand and high prices of steel mills," said the trader. According to him, because of insufficient orders, customers prefer to take cautious attitudes at the moment and the sales performance remains unsatisfactory. He just sold about 20t this week at RMB5,750/t (USD835/t) and last sold about 30t last week at the same price. The trader intends to maintain his price unchanged and expects Chinese NGO electrical steel prices to keep stable in the coming week.
With a sales volume of about 1,500t last month, which may remain stable this month, the trader sold around 15,000t last year and about 2,500t in the first two months of this year. They have a stockpile of about 700t in hand now, similar to that early this month.
