WISCO to raise the output of NGO electrical steel
2023-04-13 08:17:54 [Print]
BEIJING (Asian Metal) 13 Apr 23 - Wuhan Iron and Steel Co. (WISCO), a major producer of non-grain oriented electrical steel in East China, would increase the output by about 9,000t month on month to around 106,000t in May, said a source of the company.
"We plan to expand the production of NGO electrical steel from about 97,000t this month to around 106,000t next month due to increased orders from customers," explained the source. In addition, they still have zero stock in hand now and customers need to place orders beforehand with the lead time of about one month.
Located in Wuhan, Hubei province and based on the annual production capacity of about 1.45 million tonnes, WISCO produces NGO electrical steel with grades of 210-1,300. The company produced about 1.40 million tonnes of NGO electrical steel in 2022 and around 276,000t in the first quarter of 2023.
The mainstream prices of NGO electrical steel 50WW800 0.5mm*1,200mm*C from WISCO stand at about RMB5,600/t (USD813/t) D/P in warehouse Hangzhou at present, down by RMB100/t (USD15/t) 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.
"We plan to expand the production of NGO electrical steel from about 97,000t this month to around 106,000t next month due to increased orders from customers," explained the source. In addition, they still have zero stock in hand now and customers need to place orders beforehand with the lead time of about one month.
Located in Wuhan, Hubei province and based on the annual production capacity of about 1.45 million tonnes, WISCO produces NGO electrical steel with grades of 210-1,300. The company produced about 1.40 million tonnes of NGO electrical steel in 2022 and around 276,000t in the first quarter of 2023.
The mainstream prices of NGO electrical steel 50WW800 0.5mm*1,200mm*C from WISCO stand at about RMB5,600/t (USD813/t) D/P in warehouse Hangzhou at present, down by RMB100/t (USD15/t) 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.
