Chinese NGO electrical steel prices move down
2023-04-20 08:19:09 [Print]
BEIJING (Asian Metal) 20 Apr 23 - Chinese non-grain oriented electrical steel suppliers decreased their prices again this week on weak demand. The current mainstream prices of NGO electrical steel 50WW800 0.5mm*1,200mm*C from WISCO hover at RMB5,450-5,500/t (USD792-799/t) D/P in warehouse Hangzhou, and those of NGO electrical steel SG50W800 0.5mm*1,200mm*C from Shagang Steel stand at RMB5,200-5,250/t (USD756-763/t) D/P in warehouse Zhangjiagang, both down by RMB100/t (USD15/t) from last week. Insiders predict that Chinese NGO electrical steel prices would drop by another RMB50/t (USD7/t) in the coming week dragged by customers' slow buying activities.
A Shanghai-based distributor of NGO electrical steel with a regular sales volume of about 10,000tpm quotes RMB5,500/t (USD799/t) D/P in warehouse Hangzhou for NGO electrical steel 50WW800 0.5mm*1,200mm*C from WISCO without any discounts for the time being, down by RMB100/t (USD15/t) compared with that of last week. "We reduced the price by RMB100/t (USD15/t) again this week due to customers' slow purchasing activities," said the trader, adding that he decreased the price by a total of RMB400/t (USD58/t) over the past one month. According to him, seeing the continuous price decrease, customers prefer to hold wait-and-see attitudes at the moment and place orders sparingly. He just sold about 50t this week at RMB5,500/t (USD799/t) and last sold about 70t last week at RMB5,600/t (USD814/t). The trader might further cut the price and predicts that Chinese NGO electrical steel prices would go down by another RMB50/t (USD7/t) in the coming week on weak demand.
With a sales volume of about 10,000t in March, which may keep stable in April, the trader sold around 100,000t in 2022 and 27,000t in Q1 of this year. They have an inventory of about 1,500t in hand now, up from around 1,000t last month.
A Wuxi-based trader of NGO electrical steel told his price for NGO electrical steel SG50W800 0.5mm*1,200mm*C from Shagang Steel stands at RMB5,250/t (USD763/t) D/P in warehouse Zhangjiagang with no concessions now, down by RMB100/t (USD15/t) from last week. "We also reduced the price by RMB100/t (USD15/t) this week after the decrease of RMB100/t (USD15/t) last week to attract customers," said the trader, who complained that customers just purchase materials upon orders at the moment due to the continuous price decrease recently. He just sold about 20t this week at RMB5,250/t (USD763/t) and last sold about 30t last week at RMB5,350/t (USD777/t). The trader intends to further reduce the price and expects Chinese NGO electrical steel prices to slide by another RMB50/t (USD7/t) in the coming week on soft demand.
Based on the regular sales volume of about 1,500tpm, the trader sold around 1,500t last month and anticipates a stable sales amount in April. Holding a stockpile of about 700t in hand now, in line with last month, they sold about 15,000t in 2022 and around 4,000t in Q1 of this year.
A Shanghai-based distributor of NGO electrical steel with a regular sales volume of about 10,000tpm quotes RMB5,500/t (USD799/t) D/P in warehouse Hangzhou for NGO electrical steel 50WW800 0.5mm*1,200mm*C from WISCO without any discounts for the time being, down by RMB100/t (USD15/t) compared with that of last week. "We reduced the price by RMB100/t (USD15/t) again this week due to customers' slow purchasing activities," said the trader, adding that he decreased the price by a total of RMB400/t (USD58/t) over the past one month. According to him, seeing the continuous price decrease, customers prefer to hold wait-and-see attitudes at the moment and place orders sparingly. He just sold about 50t this week at RMB5,500/t (USD799/t) and last sold about 70t last week at RMB5,600/t (USD814/t). The trader might further cut the price and predicts that Chinese NGO electrical steel prices would go down by another RMB50/t (USD7/t) in the coming week on weak demand.
With a sales volume of about 10,000t in March, which may keep stable in April, the trader sold around 100,000t in 2022 and 27,000t in Q1 of this year. They have an inventory of about 1,500t in hand now, up from around 1,000t last month.
A Wuxi-based trader of NGO electrical steel told his price for NGO electrical steel SG50W800 0.5mm*1,200mm*C from Shagang Steel stands at RMB5,250/t (USD763/t) D/P in warehouse Zhangjiagang with no concessions now, down by RMB100/t (USD15/t) from last week. "We also reduced the price by RMB100/t (USD15/t) this week after the decrease of RMB100/t (USD15/t) last week to attract customers," said the trader, who complained that customers just purchase materials upon orders at the moment due to the continuous price decrease recently. He just sold about 20t this week at RMB5,250/t (USD763/t) and last sold about 30t last week at RMB5,350/t (USD777/t). The trader intends to further reduce the price and expects Chinese NGO electrical steel prices to slide by another RMB50/t (USD7/t) in the coming week on soft demand.
Based on the regular sales volume of about 1,500tpm, the trader sold around 1,500t last month and anticipates a stable sales amount in April. Holding a stockpile of about 700t in hand now, in line with last month, they sold about 15,000t in 2022 and around 4,000t in Q1 of this year.
