Zhongshan Zhongsheng Metal Strip to reduce the output of NGO electrical steel

BEIJING (Asian Metal) 27 Apr 23 - Zhongshan Zhongsheng Metal Strip Technology Co.Asian Metal Copyright Zhongshan Zhongsheng Metal Strip, a major non-grain oriented electrical steel producer in South China, would reduce the output from about 55,000t last month to around 45,000t this month.Asian Metal Copyright (Zhongshan Zhongsheng Metal Strip), a major non-grain oriented electrical steel producer in South China, would reduce the output from about 55,000t last month to around 45,000t this month.

"Because of decreased orders, we would cut the production of NGO electrical steel by about 10,000t MoM to around 45,000t in April," said a sales official of the company. According to him, they have a stockpile of about 15,000t in hand now, up from around 10,000t last month.

Located in Zhongshan, Guangdong province and based on the annual production capacity of about one million tonnes, Zhongshan Zhongsheng Metal Strip produces NGO electrical steel with grades of 1,300-300. The company produced about 145,000t of NGO electrical steel in Q1 of this year and around 550,000t last year.

The mainstream prices of NGO electrical steel 800 from Zhongshan Zhongsheng Metal Strip remained at about RMB5,200/t (USD751/t) D/P in warehouse Foshan on Wednesday, stable compared with those on Tuesday. Insiders expect Chinese NGO electrical steel prices to move down in the coming week due to soft demand from downstream industries.

.Asian Metal Copyright Zhongshan Zhongsheng Metal Strip, a major non-grain oriented electrical steel producer in South China, would reduce the output from about 55,000t last month to around 45,000t this monthAsian Metal Copyright