Ansteel to reduce the output of NGO electrical steel
2023-04-19 08:17:52 [Print]
BEIJING (Asian Metal) 19 Apr 23 - Anshan Iron and Steel Co. (Ansteel), the major non-grain oriented electrical steel producer in Northeast China, would reduce the output by about 5,000t MoM to around 83,000t next month.
"Because of decreased orders, we might just produce about 83,000t of NGO electrical steel in May, down from around 88,000t in April," said a source of the company. According to him, they still have zero stock in hand for the time being, in line with last month.
Located in Anshan, Liaoning province, Ansteel produces NGO electrical steel with grades of 1,300-230. Based on the annual production capacity of about 1.1 million tonnes, the company produced about 950,000t of NGO electrical steel in 2022 and around 254,000t in the first quarter of this year.
The present mainstream prices of NGO electrical steel 50AW800 0.5mm*1,200mm*C from Ansteel remain at about RMB5,500/t (USD800/t) D/P in warehouse Wuxi, stable compared with those of last week. Insiders predict that Chinese NGO electrical steel prices would go down in the coming week on weak demand.
"Because of decreased orders, we might just produce about 83,000t of NGO electrical steel in May, down from around 88,000t in April," said a source of the company. According to him, they still have zero stock in hand for the time being, in line with last month.
Located in Anshan, Liaoning province, Ansteel produces NGO electrical steel with grades of 1,300-230. Based on the annual production capacity of about 1.1 million tonnes, the company produced about 950,000t of NGO electrical steel in 2022 and around 254,000t in the first quarter of this year.
The present mainstream prices of NGO electrical steel 50AW800 0.5mm*1,200mm*C from Ansteel remain at about RMB5,500/t (USD800/t) D/P in warehouse Wuxi, stable compared with those of last week. Insiders predict that Chinese NGO electrical steel prices would go down in the coming week on weak demand.
