Xinsteel New Material to raise the output of NGO electrical steel
2023-03-28 08:20:28 [Print]
BEIJING (Asian Metal) 28 Mar 23 - As a major producer of non-grain oriented electrical steel in South China, Jiangxi Xinsteel Nanfang New Material Co. (Xinsteel New Material), would increase the output by about 25% MoM to around 100,000t next month, disclosed a source of the company.
"Because of increased orders, we would expand the production from about 80,000t this month to around 100,000t in April," explained the source. Besides, they have no spot materials in hand at the moment, in line with last month.
Located in Xinyu, Jiangxi province, the company produces NGO electrical steel with grades of 250-1,300. Based on the annual production capacity of about 1.2 million tonnes, it recorded an output of about 850,000t last year and produced around 150,000t in the first two months of 2023.
The mainstream prices of NGO electrical steel 50ZW800 0.5mm*1,200mm*C from Xinsteel New Material remain at about RMB5,800/t (USD833/t) D/P in warehouse Foshan at present, the same as those of last week. Insiders suppose 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 expand the production from about 80,000t this month to around 100,000t in April," explained the source. Besides, they have no spot materials in hand at the moment, in line with last month.
Located in Xinyu, Jiangxi province, the company produces NGO electrical steel with grades of 250-1,300. Based on the annual production capacity of about 1.2 million tonnes, it recorded an output of about 850,000t last year and produced around 150,000t in the first two months of 2023.
The mainstream prices of NGO electrical steel 50ZW800 0.5mm*1,200mm*C from Xinsteel New Material remain at about RMB5,800/t (USD833/t) D/P in warehouse Foshan at present, the same as those of last week. Insiders suppose 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.
