Baotou Steel to restart NGO electrical steel production
2024-04-11 08:00:03 [Print]
BEIJING (Asian Metal) 11 Apr 24 - Baotou Iron and Steel Co. (Baotou Steel), one of the major non-grain oriented electrical steel producers in North China, would resume the production in the middle of next month with a daily output of about 300-400t.
"We stopped the production of NGO electrical steel last August for equipment modification and plan to restart the production in the middle of May," revealed a source of the company, adding that they would be able to produce high grades of NGO electrical steel after equipment modification. Besides, they still have no spot materials in hand at present.
Located in Baotou, Inner Mongolia and based on the annual production capacity of about 200,000t, Baotou Steel produces NGO electrical steel with grades of 470-1,000. The company produced about 33,000t of NGO electrical steel in 2023 and did not produce any materials so far this year.
The current mainstream prices of NGO electrical steel 800 from Baotou Steel stay at about RMB4,900/t (USD678/t) D/P in warehouse Suzhou, similar to those of last week. Insiders predict that Chinese NGO electrical steel prices would maintain stable in the coming week on soft demand and high prices of steel mills.
"We stopped the production of NGO electrical steel last August for equipment modification and plan to restart the production in the middle of May," revealed a source of the company, adding that they would be able to produce high grades of NGO electrical steel after equipment modification. Besides, they still have no spot materials in hand at present.
Located in Baotou, Inner Mongolia and based on the annual production capacity of about 200,000t, Baotou Steel produces NGO electrical steel with grades of 470-1,000. The company produced about 33,000t of NGO electrical steel in 2023 and did not produce any materials so far this year.
The current mainstream prices of NGO electrical steel 800 from Baotou Steel stay at about RMB4,900/t (USD678/t) D/P in warehouse Suzhou, similar to those of last week. Insiders predict that Chinese NGO electrical steel prices would maintain stable in the coming week on soft demand and high prices of steel mills.
