Chinese NGO electrical steel prices drop
2023-04-07 08:15:36 [Print]
BEIJING (Asian Metal) 7 Apr 23 - Chinese non-grain oriented electrical steel suppliers further cut their prices this week on weak demand. The mainstream prices of NGO electrical steel 50AW800 0.5mm*1,200mm*C from Ansteel hover at RMB5,550-5,600/t (USD806-814/t) D/P in warehouse Wuxi at present, and those of NGO electrical steel SG50W800 0.5mm*1,200mm*C from Shagang Steel stand at RMB5,450-5,500/t (USD792-799/t) D/P in warehouse Zhangjiagang, down by RMB100/t (USD15/t) and RMB150/t (USD22/t) respectively from last week. Insiders predict that Chinese NGO electrical steel prices would maintain stable in the coming week because of customers' slow buying activities and high prices of steel mills.
A Shanghai-based trader of NGO electrical steel with a regular sales volume of about 1,000tpm quotes RMB5,600/t (USD814/t) D/P in warehouse Wuxi for NGO electrical steel 50AW800 0.5mm*1,200mm*C from Ansteel without any discounts for the time being, down by RMB100/t (USD15/t) compared with that of last week. "Dragged by customers' slow purchasing activities, we decreased the price by RMB100/t (USD15/t) this week," said the trader. According to him, seeing the continuous price decrease since late last month, many customers just hold wait-and-see attitudes now and refuse to build stockpiles. He just sold about 30t this week at RMB5,600/t (USD814/t) and last sold about 40t last week at RMB5,700/t (USD828/t). The trader does not plan to further cut the price and predicts that Chinese NGO electrical steel prices would remain stable in the coming week on weak demand and high prices of steel mills.
With a sales volume of about 1,000t in March, which may keep stable this month, the trader sold about 11,000t in 2022 and around 2,500t in the first quarter of 2023. They have a stockpile of about 500t in hand now, similar to that of last month.
A trader of NGO electrical steel in Wuxi told his price for NGO electrical steel SG50W800 0.5mm*1,200mm*C from Shagang Steel stands at RMB5,500/t (USD799/t) D/P in warehouse Zhangjiagang with no concessions now, down by RMB150/t (USD22/t) from last week. "We further reduced the price by RMB150/t (USD22/t) this week after the decrease of RMB50/t (USD7/t) last week on weak demand from downstream industries," said the trader, adding that customers just purchase materials upon orders at the moment due to the continuous price decrease. He just sold about 60t this week at RMB5,500/t (USD799/t) and last sold about 80t last week at RMB5,650/t (USD821/t). The trader intends to maintain the price unchanged and expects Chinese NGO electrical steel prices to keep stable in the coming week on soft demand and high prices of steel mills.
Based on the regular sales volume of about 20,000tpm, the trader sold around 20,000t in March and anticipates a stable sales amount this month. Having an inventory of about 3,000t in hand now, in line with last month, they sold about 220,000t last year and around 55,000t in the first quarter of 2023.
A Shanghai-based trader of NGO electrical steel with a regular sales volume of about 1,000tpm quotes RMB5,600/t (USD814/t) D/P in warehouse Wuxi for NGO electrical steel 50AW800 0.5mm*1,200mm*C from Ansteel without any discounts for the time being, down by RMB100/t (USD15/t) compared with that of last week. "Dragged by customers' slow purchasing activities, we decreased the price by RMB100/t (USD15/t) this week," said the trader. According to him, seeing the continuous price decrease since late last month, many customers just hold wait-and-see attitudes now and refuse to build stockpiles. He just sold about 30t this week at RMB5,600/t (USD814/t) and last sold about 40t last week at RMB5,700/t (USD828/t). The trader does not plan to further cut the price and predicts that Chinese NGO electrical steel prices would remain stable in the coming week on weak demand and high prices of steel mills.
With a sales volume of about 1,000t in March, which may keep stable this month, the trader sold about 11,000t in 2022 and around 2,500t in the first quarter of 2023. They have a stockpile of about 500t in hand now, similar to that of last month.
A trader of NGO electrical steel in Wuxi told his price for NGO electrical steel SG50W800 0.5mm*1,200mm*C from Shagang Steel stands at RMB5,500/t (USD799/t) D/P in warehouse Zhangjiagang with no concessions now, down by RMB150/t (USD22/t) from last week. "We further reduced the price by RMB150/t (USD22/t) this week after the decrease of RMB50/t (USD7/t) last week on weak demand from downstream industries," said the trader, adding that customers just purchase materials upon orders at the moment due to the continuous price decrease. He just sold about 60t this week at RMB5,500/t (USD799/t) and last sold about 80t last week at RMB5,650/t (USD821/t). The trader intends to maintain the price unchanged and expects Chinese NGO electrical steel prices to keep stable in the coming week on soft demand and high prices of steel mills.
Based on the regular sales volume of about 20,000tpm, the trader sold around 20,000t in March and anticipates a stable sales amount this month. Having an inventory of about 3,000t in hand now, in line with last month, they sold about 220,000t last year and around 55,000t in the first quarter of 2023.
