Chinese NGO electrical steel prices stable
2023-03-16 08:28:06 [Print]
BEIJING (Asian Metal) 16 Mar 23 - Chinese non-grain oriented electrical steel suppliers keep their prices stable this week because of high prices of steel mills and customers' slow buying activities. The present mainstream prices of NGO electrical steel 50WW800 0.5mm*1,200mm*C from WISCO remain at RMB5,850-5,900/t (USD850-857/t) D/P in warehouse Hangzhou, and those of NGO electrical steel SG50W800 0.5mm*1,200mm*C from Shagang Steel stand at RMB5,750-5,800/t (USD835-842/t) D/P in warehouse Zhangjiagang, both unchanged compared with those of last week. Insiders predict that Chinese NGO electrical steel prices would remain stable in the coming week.
A distributor of NGO electrical steel in Shanghai quotes RMB5,900/t (USD857/t) D/P in warehouse Hangzhou for NGO electrical steel 50WW800 0.5mm*1,200mm*C from WISCO with no concessions now, the same as that of last week. "We keep the price stable for the time being after the increase of about RMB100/t (USD15/t) early this month," revealed the trader. According to him, the demand from downstream industries has not released as expected and customers just purchase materials upon orders at the moment. He just sold about 60t this week at RMB5,900/t (USD857/t) and last sold around 80t last week at the same price. The trader has no plan to adjust the price and predicts that Chinese NGO electrical steel prices would keep stable in the coming week on weak demand and high prices of steel mills.
Based on the regular sales volume of about 10,000tpm, the trader sold about 10,000t in February and anticipates a stable sales amount this month. Holding a stockpile of about 1,000t in hand now, down from around 2,000t last month, they sold around 100,000t in 2022 and about 17,000t in the first two months of this year.
A trader of NGO electrical steel in Wuxi based on a regular sales volume of about 2,000tpm told his quotation for NGO electrical steel SG50W800 0.5mm*1,200mm*C from Shagang Steel hovers at RMB5,800/t (USD842/t) D/P in warehouse Zhangjiagang without any discounts now, stable compared with that of last week. "We also maintain our prices stable at present due to customers' slow purchasing activities and high prices of steel mills," said the trader, who added that Shagang Steel's EXW price of NGO electrical steel SG50W800 0.5mm*1,200mm*C produced in March is RMB5,750/t (USD835/t). According to him, customers still refuse to build large stockpiles due to insufficient orders and his sales performance is poor. He failed to conclude deals this week and last sold about 50t last week at the price of RMB5,800/t (USD842/t). The trader intends to maintain his price unchanged and believes that Chinese NGO electrical steel prices would remain stable in the coming week.
With a sales volume of about 2,000t last month, which may keep stable in March, the trader sold around 38,000t in 2022 and about 3,000t in the first two months of 2023. They have an inventory of about 1,000t in hand now, similar to that of last month.
A distributor of NGO electrical steel in Shanghai quotes RMB5,900/t (USD857/t) D/P in warehouse Hangzhou for NGO electrical steel 50WW800 0.5mm*1,200mm*C from WISCO with no concessions now, the same as that of last week. "We keep the price stable for the time being after the increase of about RMB100/t (USD15/t) early this month," revealed the trader. According to him, the demand from downstream industries has not released as expected and customers just purchase materials upon orders at the moment. He just sold about 60t this week at RMB5,900/t (USD857/t) and last sold around 80t last week at the same price. The trader has no plan to adjust the price and predicts that Chinese NGO electrical steel prices would keep stable in the coming week on weak demand and high prices of steel mills.
Based on the regular sales volume of about 10,000tpm, the trader sold about 10,000t in February and anticipates a stable sales amount this month. Holding a stockpile of about 1,000t in hand now, down from around 2,000t last month, they sold around 100,000t in 2022 and about 17,000t in the first two months of this year.
A trader of NGO electrical steel in Wuxi based on a regular sales volume of about 2,000tpm told his quotation for NGO electrical steel SG50W800 0.5mm*1,200mm*C from Shagang Steel hovers at RMB5,800/t (USD842/t) D/P in warehouse Zhangjiagang without any discounts now, stable compared with that of last week. "We also maintain our prices stable at present due to customers' slow purchasing activities and high prices of steel mills," said the trader, who added that Shagang Steel's EXW price of NGO electrical steel SG50W800 0.5mm*1,200mm*C produced in March is RMB5,750/t (USD835/t). According to him, customers still refuse to build large stockpiles due to insufficient orders and his sales performance is poor. He failed to conclude deals this week and last sold about 50t last week at the price of RMB5,800/t (USD842/t). The trader intends to maintain his price unchanged and believes that Chinese NGO electrical steel prices would remain stable in the coming week.
With a sales volume of about 2,000t last month, which may keep stable in March, the trader sold around 38,000t in 2022 and about 3,000t in the first two months of 2023. They have an inventory of about 1,000t in hand now, similar to that of last month.
