Chinese NGO electrical steel prices stable
2017-09-21 08:59:30 [Print]
BEIJING (Asian Metal) 21 Sep 17 - Chinese non-grain oriented electrical steel prices are generally stable at present, but the market sales performance continues to be bad on weak customer demand
A Shanghai-based distributor of non-grain oriented electrical steel reported to Asian Metal that the price remains stable for the time being. His price of 50AW800 0.5mm*1,200mm*C from Ansteel is RMB6,300/t (USD959/t) VAT included, the same as that of last trading day.
Although Ansteel announced to lift the list price of NGO electrical steel for October production by about RMB100/t (USD15/t) on 12th September, the source failed to raise his prices on weak customer demand. “The purchase cost of 50AW800 0.5mm*1,200mm*C from Ansteel for September production is RMB6,500/t (USD990/t) VAT included, while that for October is RMB6,600/t (USD1,005/t),” he said . However, because of the environmental protection inspection, some downstream customers are out of production now and their demand for NGO electrical steel decreases . His current sales volume remains at less than 20tpd against that of 700-800t for last month . The source does not think the market will improve in the following days and his current inventory is below 500t.
Another trader in Wuhan, Hubei province confirmed the stable price. His price of 50WW800 0.5mm*1,200mm*C from WISCO is RMB6,000/t (USD914/t) VAT included, unchanged compared with that of last trading day.
The source keeps his prices stable at the moment after the decrease of around RMB100/t (USD15/t) in previous two weeks on weak customer demand. However, expecting the price to drop further, customers without urgent need for materials are mostly holding a wait-and-see attitude now and refusing to place orders . “WISCO also raised the list price of 50WW800 0.5mm*1,200mm*C for October production by about RMB140/t (USD21/t) to RMB6,400/t (USD975/t) VAT included,” he said, adding that traders are reluctant to build large stockpiles due to higher purchase cost and weak customer demand and his current inventory is no more than 100t . With a sales volume of less than 10tpd against that of 200-300t for last month, the source supposes the market will continue to be quiet in the next few days.
. The current mainstream market price of 50AW800 0.5mm*1,200mm*C from Ansteel is about RMB6,300/t (USD959/t) VAT included by D/P in Shanghai . Insiders think the price is likely to go down in the coming days.
A Shanghai-based distributor of non-grain oriented electrical steel reported to Asian Metal that the price remains stable for the time being. His price of 50AW800 0.5mm*1,200mm*C from Ansteel is RMB6,300/t (USD959/t) VAT included, the same as that of last trading day.
Although Ansteel announced to lift the list price of NGO electrical steel for October production by about RMB100/t (USD15/t) on 12th September, the source failed to raise his prices on weak customer demand. “The purchase cost of 50AW800 0.5mm*1,200mm*C from Ansteel for September production is RMB6,500/t (USD990/t) VAT included, while that for October is RMB6,600/t (USD1,005/t),” he said . However, because of the environmental protection inspection, some downstream customers are out of production now and their demand for NGO electrical steel decreases . His current sales volume remains at less than 20tpd against that of 700-800t for last month . The source does not think the market will improve in the following days and his current inventory is below 500t.
Another trader in Wuhan, Hubei province confirmed the stable price. His price of 50WW800 0.5mm*1,200mm*C from WISCO is RMB6,000/t (USD914/t) VAT included, unchanged compared with that of last trading day.
The source keeps his prices stable at the moment after the decrease of around RMB100/t (USD15/t) in previous two weeks on weak customer demand. However, expecting the price to drop further, customers without urgent need for materials are mostly holding a wait-and-see attitude now and refusing to place orders . “WISCO also raised the list price of 50WW800 0.5mm*1,200mm*C for October production by about RMB140/t (USD21/t) to RMB6,400/t (USD975/t) VAT included,” he said, adding that traders are reluctant to build large stockpiles due to higher purchase cost and weak customer demand and his current inventory is no more than 100t . With a sales volume of less than 10tpd against that of 200-300t for last month, the source supposes the market will continue to be quiet in the next few days.