Baosteel to decrease NGO electrical steel output
2023-03-17 08:22:24 [Print]
BEIJING (Asian Metal) 17 Mar 23 - As the major producer of non-grain oriented electrical steel in East China, Baoshan Iron and Steel Co. (Baosteel), plans to reduce the production from about 108,000t in March to around 100,000t next month, revealed a source of the company.
"Because of the facility maintenance, we would decrease the output of NGO electrical steel by around 8,000t MoM to around 100,000t in April," explained the source, adding that they have no spot materials in hand for the time being, unchanged from last month.
Located in Shanghai, the company produces NGO electrical steel with grades of 1,300-210. Based on the annual production capacity of about 1.5 million tonnes, it produced about 1.45 million tonnes of NGO electrical steel last year and around 224,000t in the first two months of 2023.
The mainstream prices of NGO electrical steel B50A800 0.5mm*1,200mm*C from Baosteel remain at about RMB5,950/t (USD862/t) D/P in warehouse Shanghai at present, stable compared with those of last week. Insiders predict that Chinese NGO electrical steel prices would lack momentum to go up in the coming week due to weak demand from downstream industries.
"Because of the facility maintenance, we would decrease the output of NGO electrical steel by around 8,000t MoM to around 100,000t in April," explained the source, adding that they have no spot materials in hand for the time being, unchanged from last month.
Located in Shanghai, the company produces NGO electrical steel with grades of 1,300-210. Based on the annual production capacity of about 1.5 million tonnes, it produced about 1.45 million tonnes of NGO electrical steel last year and around 224,000t in the first two months of 2023.
The mainstream prices of NGO electrical steel B50A800 0.5mm*1,200mm*C from Baosteel remain at about RMB5,950/t (USD862/t) D/P in warehouse Shanghai at present, stable compared with those of last week. Insiders predict that Chinese NGO electrical steel prices would lack momentum to go up in the coming week due to weak demand from downstream industries.
