Baosteel to increase NGO electrical steel output
2024-03-28 08:27:05 [Print]
BEIJING (Asian Metal) 28 Mar 24 - Baoshan Iron and Steel Co. (Baosteel), one of the major non-grain oriented electrical steel producers in East China, would expand the production to about 135,000t next month.
"We would raise the output of NGO electrical steel by about 10,000t MoM to around 135,000t in April because of increased orders," revealed a source of the company, who also told they have no spot materials in hand now, in line with last month.
Baosteel produces NGO electrical steel with grades of 1,300-210. Based on the annual production capacity of about 1.7 million tonnes, the company recorded an output of around 1.6 million tonnes of NGO electrical steel in 2023 and produced about 250,000t in Jan-Feb of this year.
The present mainstream prices of NGO electrical steel B50A470 0.5mm*1,200mm*C from Baosteel stay at about RMB5,750-5,800/t (USD796-803/t) D/P in warehouse Shanghai, the same as those of last week. Insiders expect Chinese NGO electrical steel prices to keep stable in the coming week on weak demand and high prices of steel mills.
"We would raise the output of NGO electrical steel by about 10,000t MoM to around 135,000t in April because of increased orders," revealed a source of the company, who also told they have no spot materials in hand now, in line with last month.
Baosteel produces NGO electrical steel with grades of 1,300-210. Based on the annual production capacity of about 1.7 million tonnes, the company recorded an output of around 1.6 million tonnes of NGO electrical steel in 2023 and produced about 250,000t in Jan-Feb of this year.
The present mainstream prices of NGO electrical steel B50A470 0.5mm*1,200mm*C from Baosteel stay at about RMB5,750-5,800/t (USD796-803/t) D/P in warehouse Shanghai, the same as those of last week. Insiders expect Chinese NGO electrical steel prices to keep stable in the coming week on weak demand and high prices of steel mills.
