Benxi Steel to raise the production of NGO electrical steel
2023-03-24 07:39:52 [Print]
BEIJING (Asian Metal) 24 Mar 23 - As a major producer of non-grain oriented electrical steel in Northeast China, Benxi Iron and Steel Co. (Benxi Steel) would increase the production by about 40% MoM to around 14,000t this month.
"Because of increased orders, we would produce about 14,000t of NGO electrical steel in March, up from around 10,000t last month," revealed a source of the company. According to him, they have no spot materials in hand at present and customers need to place orders in advance with the lead time of about one month.
Located in Benxi, Liaoning province, the company produces NGO electrical steel with grades of 470-1,300. Based on the annual production capacity of around 200,000t, it recorded an output of about 160,000t last year and produced around 25,000t in Jan-Feb of 2023.
The mainstream prices of NGO electrical steel 50BW800 0.5mm*1,200mm*C from Benxi Steel stood at around RMB5,700/t (USD815/t) D/P in warehouse Suzhou on Thursday, the same as those on Wednesday. Insiders predict that Chinese NGO electrical steel prices would keep stable in the coming week because of customers' slow buying activities and high prices of steel mills.
"Because of increased orders, we would produce about 14,000t of NGO electrical steel in March, up from around 10,000t last month," revealed a source of the company. According to him, they have no spot materials in hand at present and customers need to place orders in advance with the lead time of about one month.
Located in Benxi, Liaoning province, the company produces NGO electrical steel with grades of 470-1,300. Based on the annual production capacity of around 200,000t, it recorded an output of about 160,000t last year and produced around 25,000t in Jan-Feb of 2023.
The mainstream prices of NGO electrical steel 50BW800 0.5mm*1,200mm*C from Benxi Steel stood at around RMB5,700/t (USD815/t) D/P in warehouse Suzhou on Thursday, the same as those on Wednesday. Insiders predict that Chinese NGO electrical steel prices would keep stable in the coming week because of customers' slow buying activities and high prices of steel mills.
