The price of electrical steel in China likely to go down further in Q3
2013-06-26 17:24:39 【Print】
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The price of electrical steel has been decreasing since March this year. The average markdown for grain oriented electrical steel is RMB1000/t, while that for non-grain oriented ones is around RMB200/t
. Steel mills keep decreasing ex-works prices, and trades suffer great sales pressures . The demand from downstream motor industry and home appliance industry is in a saturation state . However, the output of electrical steel remains on a high level . Moreover, July and August are not peak seasons of electrical steel industry, and the market is hard to witness any substantial improvements in following several months . Furthermore, Chinese domestic economic growth is gradually slowing down, and the overall global economy situation is also unpromising . Considering all these factors, insiders believe the price of electrical steel is possible to keep going down in the third quarter.