Benxi Steel to reduce the output of NGO electrical steel

BEIJING (Asian Metal) 20 Apr 23 - Benxi Iron and Steel Co.Asian Metal Copyright Insiders expect Chinese NGO electrical steel prices to move down by another RMB50t USD7t in the coming week on weak demand.Asian Metal Copyright (Benxi Steel), a major producer of non-grain oriented electrical steel in Northeast China, would decrease the output from about 14,000t this month to around 10,000t next month, said a source of the company.

"We would conduct the production line maintenance and just produce about 10,000t of NGO electrical steel in May, down by around 4,000t month on month," explained the source. Besides, they still have zero stock in hand for the time being, unchanged from last month.

Located in Benxi, Liaoning province and based on the annual production capacity of around 200,000t, Benxi Steel produces NGO electrical steel with grades of 470-1,300. It produced about 160,000t of NGO electrical steel in 2022 and around 39,000t in Q1 of this year.

The current mainstream prices of NGO electrical steel 50BW800 0.5mm*1,200mm*C from Benxi Steel hover at around RMB5,250/t (USD762/t) D/P in warehouse Suzhou, down by RMB100/t (USD15/t) from last week. Insiders expect Chinese NGO electrical steel prices to move down by another RMB50/t (USD7/t) in the coming week on weak demand.


.Asian Metal Copyright5mm*1,200mm*C from Benxi Steel hover at around RMB5,250t USD762t DP in warehouse Suzhou, down by RMB100t USD15t from last weekAsian Metal Copyright