Chinese non-grain oriented electrical steel prices remain upward
2016-10-20 09:01:32 [Print]
BEIJING (Asian Metal) 20 Oct 16 - Prices of non-grain oriented electrical steel in China are still going up at the moment mainly because of higher raw material costs and increase in steel mills’ list prices. The current mainstream price of 50W800 0.5mm*1,200mm*C from Ansteel is about RMB4,750/t (USD705/t) VAT included in Shanghai. Insiders think the price will be stable in the following days.
A Shanghai-based distributor of non-grain oriented electrical steel with a trading volume of about 30,000t in 2015 reported to Asian Metal that the price of 50AW800 0.5mm*1,200mm*C from Ansteel is RMB4,750/t (USD705/t), up by RMB150/t (USD22/t) compared with that of last week.
According to the source, seeing Ansteel announced to lift its list price of non-grain oriented electrical steel for November production by RMB234/t (USD35/t) on 17 October, traders followed suit. “I have increased the price by a total of RMB250/t (USD37/t) after the National Day holiday,” he said. However, demand from customers does not improve obviously because of the sharp price increase and customers with no urgent need for materials are just taking a cautious attitude now. His current sales volume is no more than 50tpd against that of about 2,000t in September. Holding a stockpile of around 500t in hand now, the source expects the price to keep stable in the next few days.
Another trader in Wuhan, Hubei province told Asian Metal that the price of 50WW800 0.5mm*1,200mm*C from WISCO is RMB4,900/t (USD727/t), RMB100/t (USD15/t) higher than that of last week.
Attributing the price increase to higher raw material costs, the source has raised his prices by RMB200/t (USD30/t) since last week. According to him, the price of cold rolled coil SPCC 1.0mm*1,250mm*C in Shanghai has increased by about RMB180/t (USD27/t) to RMB3,630-3,680/t (USD539-546/t) VAT included after the holiday. Nevertheless, with a sales volume of less than 30tpd against that of about 1,000t for last month, the source said the market sales performance remains poor at the moment under customers’ wait-and-see attitude. He does not think the price will rise further sharply in the coming days and his current inventory is about 500t.
A sales official from a trading company in Foshan, Guangdong province confirmed the price increase. His price of 50AW800 0.5mm*1,200mm*C from Ansteel is RMB4,750/t (USD705/t), up by RMB50/t (USD7/t) compared with that of last week.
According to the source, as domestic electrical steel producers such as WISCO, Baosteel and Ansteel have all lifted their list prices these two months, traders’ confidence in the market outlook increases. “I moved up the price by about RMB150/t (USD22/t) from last week,” he said. However, customers need more time to accept the sharp price increase and his sales performance does not become better at present. With a current sales volume of below 50tpd against that of about 2,000t in September, the source does not suppose the price will go up further in the next few days.
A Shanghai-based distributor of non-grain oriented electrical steel with a trading volume of about 30,000t in 2015 reported to Asian Metal that the price of 50AW800 0.5mm*1,200mm*C from Ansteel is RMB4,750/t (USD705/t), up by RMB150/t (USD22/t) compared with that of last week.
According to the source, seeing Ansteel announced to lift its list price of non-grain oriented electrical steel for November production by RMB234/t (USD35/t) on 17 October, traders followed suit. “I have increased the price by a total of RMB250/t (USD37/t) after the National Day holiday,” he said. However, demand from customers does not improve obviously because of the sharp price increase and customers with no urgent need for materials are just taking a cautious attitude now. His current sales volume is no more than 50tpd against that of about 2,000t in September. Holding a stockpile of around 500t in hand now, the source expects the price to keep stable in the next few days.
Another trader in Wuhan, Hubei province told Asian Metal that the price of 50WW800 0.5mm*1,200mm*C from WISCO is RMB4,900/t (USD727/t), RMB100/t (USD15/t) higher than that of last week.
Attributing the price increase to higher raw material costs, the source has raised his prices by RMB200/t (USD30/t) since last week. According to him, the price of cold rolled coil SPCC 1.0mm*1,250mm*C in Shanghai has increased by about RMB180/t (USD27/t) to RMB3,630-3,680/t (USD539-546/t) VAT included after the holiday. Nevertheless, with a sales volume of less than 30tpd against that of about 1,000t for last month, the source said the market sales performance remains poor at the moment under customers’ wait-and-see attitude. He does not think the price will rise further sharply in the coming days and his current inventory is about 500t.
A sales official from a trading company in Foshan, Guangdong province confirmed the price increase. His price of 50AW800 0.5mm*1,200mm*C from Ansteel is RMB4,750/t (USD705/t), up by RMB50/t (USD7/t) compared with that of last week.
According to the source, as domestic electrical steel producers such as WISCO, Baosteel and Ansteel have all lifted their list prices these two months, traders’ confidence in the market outlook increases. “I moved up the price by about RMB150/t (USD22/t) from last week,” he said. However, customers need more time to accept the sharp price increase and his sales performance does not become better at present. With a current sales volume of below 50tpd against that of about 2,000t in September, the source does not suppose the price will go up further in the next few days.
