Masteel to expand NGO electrical steel production

BEIJING (Asian Metal) 23 Mar 23 - As a major producer of non-grain oriented electrical steel in East China, Ma'anshan Iron and Steel Co.Asian Metal Copyright Masteel would expand the production by about 11% MoM to around 52,000t in April.Asian Metal Copyright (Masteel) would expand the production by about 11% MoM to around 52,000t in April.

"Because of increased orders, we plan to raise the output of NGO electrical steel from about 47,000t in March to around 52,000t next month," said a source of the company, adding that they also have the willingness to expand the production because of high prices of NGO electrical steel and increased profits. Besides, they have no spot materials in hand for the time being and customers need to place orders in advance.

Located in Ma'anshan, Anhui province and based on the annual production capacity of about 600,000t, the company produces NGO electrical steel with grades of 1,300-250. It witnessed an output of about 460,000t last year and produced around 85,000t in the first two months of 2023.

The mainstream prices of NGO electrical steel M50W800 0.5mm*1,200mm*C from Masteel hovered at about RMB5,750/t (USD835/t) D/P in warehouse Shanghai on Wednesday, unchanged from Tuesday.Asian Metal Copyright "Because of increased orders, we plan to raise the output of NGO electrical steel from about 47,000t in March to around 52,000t next month," said a source of the company, adding that they also have the willingness to expand the production because of high prices of NGO electrical steel and increased profits.Asian Metal Copyright Insiders predict that Chinese NGO electrical steel prices would keep stable in the coming week on soft demand and high prices of steel mills.


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