Chinese NGO electrical steel prices go down
2023-03-30 08:22:29 [Print]
BEIJING (Asian Metal) 30 Mar 23 - Chinese non-grain oriented electrical steel suppliers reduced their prices this week mainly because of customers' slow buying activities. The present mainstream prices of NGO electrical steel 50WW800 0.5mm*1,200mm*C from WISCO stand at RMB5,750-5,800/t (USD835-842/t) D/P in warehouse Hangzhou, and those of NGO electrical steel B50A800 0.5mm*1,200mm*C from Baosteel hover at RMB5,800-5,850/t (USD842-849/t) D/P in warehouse Foshan, down by RMB100/t (USD15/t) and RMB50/t (USD7/t) respectively compared with those of last week. Insiders predict that Chinese NGO electrical steel prices would remain stable in the coming week on weak demand and high prices of steel mills.
A Shanghai-based distributor of NGO electrical steel with a regular sales volume of about 3,000tpm quotes RMB5,800/t (USD842/t) D/P in warehouse Hangzhou for NGO electrical steel 50WW800 0.5mm*1,200mm*C from WISCO with no concessions now, down by RMB100/t (USD15/t) from last week. "We reduced the price by RMB100/t (USD15/t) this week due to customers' slow purchasing activities and high pressure of capital flow at the month end," explained the trader, adding that customers still purchase materials sparingly at the moment due to insufficient orders. According to him, he just sold about 30t this week at RMB5,800/t (USD842/t) and last sold about 50t last week at RMB5,900/t (USD857/t). The trader intends to maintain the price unchanged and predicts that Chinese NGO electrical steel prices would keep stable in the coming week on soft demand and high prices of steel mills.
With a sales volume of about 2,500t in February, which may remain stable this month, the trader sold about 28,000t in 2022 and around 4,000t in the first two months of this year. They have an inventory of about 500t in hand now, in line with last month.
A trader of NGO electrical steel in Foshan told his price for NGO electrical steel B50A800 0.5mm*1,200mm*C from Baosteel hovers at RMB5,850/t (USD849/t) D/P in warehouse Foshan without any discounts now, down by RMB50/t (USD7/t) compared with that of last week. "We followed other traders to cut the price by RMB50/t (USD7/t) this week to promote sales," said the trader. According to him, customers only purchase materials upon orders at present and refuse to build large stockpiles. He just sold about 20t this week at RMB5,850/t (USD849/t) and last sold about 40t last week at RMB5,900/t (USD857/t). The trader plans to keep the price unchanged and predicts that Chinese NGO electrical steel prices would remain stable in the coming week on weak demand and high prices of steel mills.
Based on the regular sales volume of about 1,500tpm, the trader sold around 1,500t last month and expects a stable sales amount in March. Having a stockpile of about 1,000t in hand now, up from around 500t last month, they sold about 15,000t in 2022 and around 2,500t in the first two months of this year.
A Shanghai-based distributor of NGO electrical steel with a regular sales volume of about 3,000tpm quotes RMB5,800/t (USD842/t) D/P in warehouse Hangzhou for NGO electrical steel 50WW800 0.5mm*1,200mm*C from WISCO with no concessions now, down by RMB100/t (USD15/t) from last week. "We reduced the price by RMB100/t (USD15/t) this week due to customers' slow purchasing activities and high pressure of capital flow at the month end," explained the trader, adding that customers still purchase materials sparingly at the moment due to insufficient orders. According to him, he just sold about 30t this week at RMB5,800/t (USD842/t) and last sold about 50t last week at RMB5,900/t (USD857/t). The trader intends to maintain the price unchanged and predicts that Chinese NGO electrical steel prices would keep stable in the coming week on soft demand and high prices of steel mills.
With a sales volume of about 2,500t in February, which may remain stable this month, the trader sold about 28,000t in 2022 and around 4,000t in the first two months of this year. They have an inventory of about 500t in hand now, in line with last month.
A trader of NGO electrical steel in Foshan told his price for NGO electrical steel B50A800 0.5mm*1,200mm*C from Baosteel hovers at RMB5,850/t (USD849/t) D/P in warehouse Foshan without any discounts now, down by RMB50/t (USD7/t) compared with that of last week. "We followed other traders to cut the price by RMB50/t (USD7/t) this week to promote sales," said the trader. According to him, customers only purchase materials upon orders at present and refuse to build large stockpiles. He just sold about 20t this week at RMB5,850/t (USD849/t) and last sold about 40t last week at RMB5,900/t (USD857/t). The trader plans to keep the price unchanged and predicts that Chinese NGO electrical steel prices would remain stable in the coming week on weak demand and high prices of steel mills.
Based on the regular sales volume of about 1,500tpm, the trader sold around 1,500t last month and expects a stable sales amount in March. Having a stockpile of about 1,000t in hand now, up from around 500t last month, they sold about 15,000t in 2022 and around 2,500t in the first two months of this year.
