Chinese GO steels firm, NGO silicon weakens
Chinese CR grain-oriented (GO) silicon/electrical steel prices have continued to rise since late July, while non-grain oriented (NGO) prices have fallen.
Grain-oriented silicon is now being offered at about RMB 37,000-38,000/t ($4,563-4,687/t) throughout the country. Prices had dropped as low as RMB 33,000-34,000/t in late July due to weak demand.
However, largely encouraged by Wuhan Steel"s move to raise its producer ex-works prices by RMB 2,000/t for September, traders have become more optimistic about market trends. They — nevertheless — suggest GO electrical steels remain difficult to source. Most is supplied by Wuhan Steel, China"s only domestic CR grain-oriented steel producer, directly to end-users.
In contrast, the market price non-grain oriented silicon steel prices are still falling, having dropped about 60% since a peak of RMB 9,400/t in mid-March this year. 0.5mm non-oriented silicon steel is currently being offered at about RMB 5,850/t, SBB is told.
Demand for non-oriented steel is relatively weak at this time, traders tell SBB, most of whom are still hesitant to buy.
Grain-oriented silicon is now being offered at about RMB 37,000-38,000/t ($4,563-4,687/t) throughout the country. Prices had dropped as low as RMB 33,000-34,000/t in late July due to weak demand.
However, largely encouraged by Wuhan Steel"s move to raise its producer ex-works prices by RMB 2,000/t for September, traders have become more optimistic about market trends. They — nevertheless — suggest GO electrical steels remain difficult to source. Most is supplied by Wuhan Steel, China"s only domestic CR grain-oriented steel producer, directly to end-users.
In contrast, the market price non-grain oriented silicon steel prices are still falling, having dropped about 60% since a peak of RMB 9,400/t in mid-March this year. 0.5mm non-oriented silicon steel is currently being offered at about RMB 5,850/t, SBB is told.
Demand for non-oriented steel is relatively weak at this time, traders tell SBB, most of whom are still hesitant to buy.