WISCO raises NGO electrical steel prices
2023-03-16 08:28:10 [Print]
BEIJING (Asian Metal) 16 Mar 23 - As the major non-grain oriented electrical steel producer in East China, Wuhan Iron and Steel Co. (WISCO), announced to lift its EXW prices of NGO electrical steel produced in April on March 10th. After the increase, the price of NGO electrical steel 50WW800 0.5mm*1,200mm*C went up to about RMB6,160/t (USD892/t) EXW D/P, up by RMB300/t (USD43/t) from that produced in March.
"We raised our EXW prices of NGO electrical steel produced in April by RMB300/t (USD43/t) last week mainly supported by higher raw materials prices and the upward price trend of NGO electrical steel in spot market," explained a source of the company. According to him, the present mainstream prices of NGO electrical steel 50WW800 0.5mm*1,200mm*C from WISCO hover at about RMB5,900/t (USD855/t) D/P in warehouse Shanghai, up by RMB200/t (USD29/t) from one month ago mainly supported by high prices of steel mills.
"The planned output of NGO electrical steel would reach about 97,000t in April, up from around 94,000t in March," he added. Besides, they don't have any spot materials in hand now and customers need to place orders in advance.
Located in Wuhan, Hubei province, the company produces NGO electrical steel with grades of 210-1,300. Based on the annual production capacity of about 1.45 million tonnes, it recorded an output of about 1.40 million tonnes of NGO electrical steel last year and produced around 182,000t in the first two months of 2023.
"We raised our EXW prices of NGO electrical steel produced in April by RMB300/t (USD43/t) last week mainly supported by higher raw materials prices and the upward price trend of NGO electrical steel in spot market," explained a source of the company. According to him, the present mainstream prices of NGO electrical steel 50WW800 0.5mm*1,200mm*C from WISCO hover at about RMB5,900/t (USD855/t) D/P in warehouse Shanghai, up by RMB200/t (USD29/t) from one month ago mainly supported by high prices of steel mills.
"The planned output of NGO electrical steel would reach about 97,000t in April, up from around 94,000t in March," he added. Besides, they don't have any spot materials in hand now and customers need to place orders in advance.
Located in Wuhan, Hubei province, the company produces NGO electrical steel with grades of 210-1,300. Based on the annual production capacity of about 1.45 million tonnes, it recorded an output of about 1.40 million tonnes of NGO electrical steel last year and produced around 182,000t in the first two months of 2023.
