Masteel to reduce the output of NGO electrical steel
2023-04-25 08:32:45 [Print]
BEIJING (Asian Metal) 25 Apr 23 - Ma'anshan Iron and Steel Co. (Masteel), a major producer of non-grain oriented electrical steel in East China, would reduce the output by about 7,000t month on month to around 45,000t in May, revealed a source of the company.
"We would cut the production of NGO electrical steel from about 52,000t in April to around 45,000t next month due to decreased orders," explained the source. According to him, they still have zero stock in hand at the moment, unchanged from last month.
Located in Ma'anshan, Anhui province, Masteel produces NGO electrical steel with grades of 1,300-250. Based on the annual production capacity of about 600,000t, the company produced around 132,000t of NGO electrical steel in Q1 of 2023 and about 460,000t last year.
The mainstream prices of NGO electrical steel M50W800 0.5mm*1,200mm*C from Masteel stand at about RMB5,250/t (USD761/t) D/P in warehouse Shanghai at present, stable compared with those of last week. Insiders expect Chinese NGO electrical steel prices to go down in the coming week on weak demand from downstream industries.
"We would cut the production of NGO electrical steel from about 52,000t in April to around 45,000t next month due to decreased orders," explained the source. According to him, they still have zero stock in hand at the moment, unchanged from last month.
Located in Ma'anshan, Anhui province, Masteel produces NGO electrical steel with grades of 1,300-250. Based on the annual production capacity of about 600,000t, the company produced around 132,000t of NGO electrical steel in Q1 of 2023 and about 460,000t last year.
The mainstream prices of NGO electrical steel M50W800 0.5mm*1,200mm*C from Masteel stand at about RMB5,250/t (USD761/t) D/P in warehouse Shanghai at present, stable compared with those of last week. Insiders expect Chinese NGO electrical steel prices to go down in the coming week on weak demand from downstream industries.
