Chinese NGO electrical steel prices decrease further
2023-04-13 08:17:59 [Print]
BEIJING (Asian Metal) 13 Apr 23 - Chinese non-grain oriented electrical steel suppliers further reduced their prices this week dragged by customers' slow purchasing activities. The present mainstream prices of NGO electrical steel 50WW800 0.5mm*1,200mm*C from WISCO stand at RMB5,550-5,600/t (USD806-813/t) D/P in warehouse Hangzhou, and those of NGO electrical steel SG50W800 0.5mm*1,200mm*C from Shagang Steel hover at RMB5,350-5,400/t (USD777-784/t) D/P in warehouse Zhangjiagang, both down by RMB100/t (USD15/t) compared with those of last week. Insiders expect Chinese NGO electrical steel prices to remain stable in the coming week on weak demand and high prices of steel mills.
A distributor of NGO electrical steel in Shanghai based on the regular sales volume of about 2,000tpm quotes RMB5,600/t (USD813/t) D/P in warehouse Hangzhou for NGO electrical steel 50WW800 0.5mm*1,200mm*C from WISCO with no concessions at present, down by RMB100/t (USD15/t) from last week. "We further cut the price by RMB100/t (USD15/t) this week after the decrease of RMB100/t (USD15/t) last week to promote sales," explained the trader. However, customers prefer to take cautious attitudes at the moment due to the continuous price decrease since last month and his sales performance remains unsatisfactory. He just sold about 40t this week at RMB5,600/t (USD813/t) and last sold about 50t last week at RMB5,700/t (USD828/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 2,000t last month, which may remain stable in April, the trader sold around 20,000t in 2022 and 55,000t in the first quarter of this year. They hold a stockpile of about 1,000t in hand now, up from around 700t last month.
A Suzhou-based trader of NGO electrical steel told his price for NGO electrical steel SG50W800 0.5mm*1,200mm*C from Shagang Steel hovers at RMB5,350/t (USD777/t) D/P in warehouse Zhangjiagang without any discounts now, down by RMB100/t (USD15/t) compared with that of last week. "We also followed other traders to decrease the price by RMB100/t (USD15/t) again this week dragged by customers' slow buying activities," said the trader, adding that he reduced the price by a total of about RMB450/t (USD65/t) over the past one month. According to him, customers mostly purchase materials upon orders at the moment and refuse to build stockpiles. He just sold about 20t this week at RMB5,350/t (USD777/t) and last sold about 30t last week at RMB5,450/t (USD791/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.
With a regular sales volume of about 2,000tpm, the trader sold around 2,000t last month and expects a stable sales amount in April. Having an inventory of about 1,000t in hand for the time being, similar to that of last month, they sold about 38,000t in 2022 and around 5,000t in the first quarter of this year.
A distributor of NGO electrical steel in Shanghai based on the regular sales volume of about 2,000tpm quotes RMB5,600/t (USD813/t) D/P in warehouse Hangzhou for NGO electrical steel 50WW800 0.5mm*1,200mm*C from WISCO with no concessions at present, down by RMB100/t (USD15/t) from last week. "We further cut the price by RMB100/t (USD15/t) this week after the decrease of RMB100/t (USD15/t) last week to promote sales," explained the trader. However, customers prefer to take cautious attitudes at the moment due to the continuous price decrease since last month and his sales performance remains unsatisfactory. He just sold about 40t this week at RMB5,600/t (USD813/t) and last sold about 50t last week at RMB5,700/t (USD828/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 2,000t last month, which may remain stable in April, the trader sold around 20,000t in 2022 and 55,000t in the first quarter of this year. They hold a stockpile of about 1,000t in hand now, up from around 700t last month.
A Suzhou-based trader of NGO electrical steel told his price for NGO electrical steel SG50W800 0.5mm*1,200mm*C from Shagang Steel hovers at RMB5,350/t (USD777/t) D/P in warehouse Zhangjiagang without any discounts now, down by RMB100/t (USD15/t) compared with that of last week. "We also followed other traders to decrease the price by RMB100/t (USD15/t) again this week dragged by customers' slow buying activities," said the trader, adding that he reduced the price by a total of about RMB450/t (USD65/t) over the past one month. According to him, customers mostly purchase materials upon orders at the moment and refuse to build stockpiles. He just sold about 20t this week at RMB5,350/t (USD777/t) and last sold about 30t last week at RMB5,450/t (USD791/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.
With a regular sales volume of about 2,000tpm, the trader sold around 2,000t last month and expects a stable sales amount in April. Having an inventory of about 1,000t in hand for the time being, similar to that of last month, they sold about 38,000t in 2022 and around 5,000t in the first quarter of this year.
