The price of electrical steel in China likely to go down further in Q3

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.Asian Metal Copyright 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.Asian Metal Copyright Steel mills keep decreasing ex-works prices, and trades suffer great sales pressures.Asian Metal Copyright The average markdown for grain oriented electrical steel is RMB1000t, while that for non-grain oriented ones is around RMB200t.Asian Metal Copyright The demand from downstream motor industry and home appliance industry is in a saturation state.Asian Metal Copyright Steel mills keep decreasing ex-works prices, and trades suffer great sales pressures.Asian Metal Copyright However, the output of electrical steel remains on a high level.Asian Metal Copyright The demand from downstream motor industry and home appliance industry is in a saturation state.Asian Metal Copyright 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.Asian Metal Copyright .Asian Metal Copyright Furthermore, Chinese domestic economic growth is gradually slowing down, and the overall global economy situation is also unpromising.Asian Metal Copyright However, the output of electrical steel remains on a high level.Asian Metal Copyright Considering all these factors, insiders believe the price of electrical steel is possible to keep going down in the third quarter.