Chinese NGO electrical steel market dim
2023-03-09 08:23:32 [Print]
BEIJING (Asian Metal) 9 Mar 23 - Because of customers' slow purchasing activities, Chinese non-grain oriented electrical steel market remained quiet over the past one week, but suppliers kept their prices stable mainly supported by high prices of steel mills. The current mainstream prices of NGO electrical steel 50WW800 0.5mm*1,200mm*C from WISCO remain at RMB5,850-5,900/t (USD839-846/t) D/P in warehouse Hangzhou, and those of NGO electrical steel B50A800 0.5mm*1,200mm*C from Baosteel stand at RMB5,800-5,850/t (USD832-839/t) D/P in warehouse Foshan, the same as those of last week. Insiders predict that Chinese NGO electrical steel prices would keep stable in the coming week on weak demand and high prices of steel mills.
A Shanghai-based distributor of NGO electrical steel with a regular sales volume of about 2,000tpm disclosed to Asian Metal that the market keeps dim for the time being because of soft demand from downstream industries. "Seeing the continuous price increase in previous weeks, customers still purchase materials upon orders and refuse to build large stockpiles at the moment," said the source, adding that prices of NGO electrical steel in local market witnessed a total increase of RMB200/t (USD29/t) after the Spring Festival holiday. According to him, he can just receive around two enquiries a day now, similar to last week, but less than about three last month. He just sold about 30t of WISCO's NGO electrical steel 50WW800 0.5mm*1,200mm*C this week at RMB5,900/t (USD846/t) D/P in warehouse Hangzhou and last sold around 50t last week at the same price. The trader has no plan to adjust the price and expects Chinese NGO electrical steel prices to remain stable in the coming week on weak demand and high prices of steel mills.
With a sales volume of about 2,000t in February, which may keep stable in March, the trader sold around 20,000t in 2022 and 35,000t in the first two months of 2023. They have an inventory of about 700t in hand now, down by around 300t month on month.
A distributor of NGO electrical steel in Foshan based on a regular sales volume of about 8,000tpm confirmed the quiet market. "The demand from large home appliance producers is stable, while those from middle and small-sized enterprises and industrial motors remains bad due to insufficient orders," complained the source, who can just receive about three enquiries a day now, in line with last month, but less than four or five one year ago. He just sold about 60t of Baosteel's NGO electrical steel B50A800 0.5mm*1,200mm*C at RMB5,850/t (USD839/t) D/P in warehouse Foshan this week and last sold around 80t last week at the same price. The trader intends to maintain the price unchanged and predicts that Chinese NGO electrical steel prices would keep stable in the coming week.
With a sales volume of about 8,000t last month, which may remain stable this month, the trader sold around 80,000t in 2022 and 15,000t in the first two months of this year. They have a stockpile of about 3,000t in hand now, down from around 5,000t last month.
A Shanghai-based distributor of NGO electrical steel with a regular sales volume of about 2,000tpm disclosed to Asian Metal that the market keeps dim for the time being because of soft demand from downstream industries. "Seeing the continuous price increase in previous weeks, customers still purchase materials upon orders and refuse to build large stockpiles at the moment," said the source, adding that prices of NGO electrical steel in local market witnessed a total increase of RMB200/t (USD29/t) after the Spring Festival holiday. According to him, he can just receive around two enquiries a day now, similar to last week, but less than about three last month. He just sold about 30t of WISCO's NGO electrical steel 50WW800 0.5mm*1,200mm*C this week at RMB5,900/t (USD846/t) D/P in warehouse Hangzhou and last sold around 50t last week at the same price. The trader has no plan to adjust the price and expects Chinese NGO electrical steel prices to remain stable in the coming week on weak demand and high prices of steel mills.
With a sales volume of about 2,000t in February, which may keep stable in March, the trader sold around 20,000t in 2022 and 35,000t in the first two months of 2023. They have an inventory of about 700t in hand now, down by around 300t month on month.
A distributor of NGO electrical steel in Foshan based on a regular sales volume of about 8,000tpm confirmed the quiet market. "The demand from large home appliance producers is stable, while those from middle and small-sized enterprises and industrial motors remains bad due to insufficient orders," complained the source, who can just receive about three enquiries a day now, in line with last month, but less than four or five one year ago. He just sold about 60t of Baosteel's NGO electrical steel B50A800 0.5mm*1,200mm*C at RMB5,850/t (USD839/t) D/P in warehouse Foshan this week and last sold around 80t last week at the same price. The trader intends to maintain the price unchanged and predicts that Chinese NGO electrical steel prices would keep stable in the coming week.
With a sales volume of about 8,000t last month, which may remain stable this month, the trader sold around 80,000t in 2022 and 15,000t in the first two months of this year. They have a stockpile of about 3,000t in hand now, down from around 5,000t last month.
