Chinese NGO electrical steel prices increase
2023-03-02 08:29:41 [Print]
BEIJING (Asian Metal) 2 Mar 23 - Chinese non-grain oriented electrical steel suppliers further increased their prices over the past one week mainly supported by high prices of steel mills. The current mainstream prices of NGO electrical steel 50AW800 0.5mm*1,200mm*C from Ansteel stand at RMB5,800-5,850/t (USD840-847/t) D/P in warehouse Wuxi, and those of NGO electrical steel SG50W800 0.5mm*1,200mm*C from Shagang Steel hover at RMB5,700-5,750/t (USD825-833/t) D/P in warehouse Zhangjiagang, both up by RMB100/t (USD14/t) compared with those of last week. Insiders predict that Chinese NGO electrical steel prices would go up by another RMB50/t (USD7/t) in the coming week.
A trader of NGO electrical steel in Shanghai quotes RMB5,800/t (USD840/t) D/P in warehouse Wuxi for NGO electrical steel 50AW800 0.5mm*1,200mm*C from Ansteel without any discounts now, up by RMB100/t (USD14/t) from last week. "We further raised the price by RMB100/t (USD14/t) this week after the increase of RMB50/t (USD7/t) last week mainly supported by high prices of steel mills," said the trader. According to him, seeing the continuous price increase these days, customers prefer to take wait-and-see attitudes towards the market at the moment and place orders sparingly. He just sold about 20t on Tuesday at RMB5,800/t (USD840/t) and last sold about 30t last week at RMB5,700/t (USD825/t). The trader plans to further lift the price and predicts that Chinese NGO electrical steel prices would rise by another RMB50/t (USD7/t) in the coming week mainly supported by high prices of steel mills.
Based on the regular sales volume of about 1,000tpm, the trader sold about 1,000t last month and anticipates a stable sales amount in March. With a stockpile of about 500t in hand now, similar to that of last month, they sold around 11,000t in 2022 and about 1,500t in the first two months of this year.
A trader of NGO electrical steel in Wuxi based on a regular sales volume of about 1,500tpm told that his quotation for NGO electrical steel SG50W800 0.5mm*1,200mm*C from Shagang Steel hovers at RMB5,750/t (USD833/t) D/P in warehouse Zhangjiagang with no concessions now, up by RMB100/t (USD14/t) compared with that of last week. "Considering Shagang Steel announced to increase its EXW prices of NGO electrical steel produced in March by RMB150/t (USD22/t) on March 1st, we also lifted the price by RMB100/t (USD14/t) this week," said the trader. However, customers mostly purchase materials upon orders at present due to the continuous price increase and the sales performance remains unsatisfactory. He failed to conclude any deals yet at the price he quoted and last sold about 30t last week at RMB5,650/t (USD818/t). The trader intends to raise the price again and expects Chinese NGO electrical steel prices to further increase by RMB50/t (USD7/t) in the coming week.
With a sales volume of about 1,500t in February, which may keep stable this month, the trader sold around 15,000t in 2022 and about 2,500t in the first two months of 2023. They have an inventory of about 700t in hand now, down from around 1,000t last month.
A trader of NGO electrical steel in Shanghai quotes RMB5,800/t (USD840/t) D/P in warehouse Wuxi for NGO electrical steel 50AW800 0.5mm*1,200mm*C from Ansteel without any discounts now, up by RMB100/t (USD14/t) from last week. "We further raised the price by RMB100/t (USD14/t) this week after the increase of RMB50/t (USD7/t) last week mainly supported by high prices of steel mills," said the trader. According to him, seeing the continuous price increase these days, customers prefer to take wait-and-see attitudes towards the market at the moment and place orders sparingly. He just sold about 20t on Tuesday at RMB5,800/t (USD840/t) and last sold about 30t last week at RMB5,700/t (USD825/t). The trader plans to further lift the price and predicts that Chinese NGO electrical steel prices would rise by another RMB50/t (USD7/t) in the coming week mainly supported by high prices of steel mills.
Based on the regular sales volume of about 1,000tpm, the trader sold about 1,000t last month and anticipates a stable sales amount in March. With a stockpile of about 500t in hand now, similar to that of last month, they sold around 11,000t in 2022 and about 1,500t in the first two months of this year.
A trader of NGO electrical steel in Wuxi based on a regular sales volume of about 1,500tpm told that his quotation for NGO electrical steel SG50W800 0.5mm*1,200mm*C from Shagang Steel hovers at RMB5,750/t (USD833/t) D/P in warehouse Zhangjiagang with no concessions now, up by RMB100/t (USD14/t) compared with that of last week. "Considering Shagang Steel announced to increase its EXW prices of NGO electrical steel produced in March by RMB150/t (USD22/t) on March 1st, we also lifted the price by RMB100/t (USD14/t) this week," said the trader. However, customers mostly purchase materials upon orders at present due to the continuous price increase and the sales performance remains unsatisfactory. He failed to conclude any deals yet at the price he quoted and last sold about 30t last week at RMB5,650/t (USD818/t). The trader intends to raise the price again and expects Chinese NGO electrical steel prices to further increase by RMB50/t (USD7/t) in the coming week.
With a sales volume of about 1,500t in February, which may keep stable this month, the trader sold around 15,000t in 2022 and about 2,500t in the first two months of 2023. They have an inventory of about 700t in hand now, down from around 1,000t last month.
