Baosteel to expand NGO electrical steel production

BEIJING (Asian Metal) 19 Apr 23 - Baoshan Iron and Steel Co.Asian Metal Copyright It witnessed an output of about 1.Asian Metal Copyright (Baosteel), the major producer of non-grain oriented electrical steel in East China, would expand the production by about 10% MoM to around 110,000t next month.

"We would raise the output of NGO electrical steel from about 100,000t this month to around 110,000t in May due to increased orders," revealed a source of the company. In addition, they still have zero stock in hand now and customers need to place orders in advance with the lead time of about one month.

Located in Shanghai and based on the annual production capacity of about 1.5 million tonnes, Baosteel produces NGO electrical steel with grades of 1,300-210.Asian Metal Copyright The current mainstream prices of NGO electrical steel B50A470 0.Asian Metal Copyright It witnessed an output of about 1.Asian Metal Copyright In addition, they still have zero stock in hand now and customers need to place orders in advance with the lead time of about one month.Asian Metal Copyright45 million tonnes of NGO electrical steel in 2022 and produced around 332,000t in Q1 of this year.

The current mainstream prices of NGO electrical steel B50A470 0.5mm*1,200mm*C from Baosteel hover at about RMB6,000/t (USD872/t) D/P in warehouse Shanghai, the same as those of last week.Asian Metal Copyright .Asian Metal Copyright Insiders expect Chinese NGO electrical steel prices to drop in the coming week on soft demand.

.Asian Metal CopyrightBEIJING Asian Metal 19 Apr 23 - Baoshan Iron and Steel CoAsian Metal Copyright