Nippon Steel & Sumitomo Metal (NSSMC) recently hiked its export quotes of grain-oriented electrical steel (GOES) by US$200/ton to China for April deliveries. Also, the company planned to raise the export quotes of non-grain oriented electrical steel (NGOES) by US$100/ton to China for April. In China, the prices of low-grade GOES decreased by US$50/ton in March, affected by the rumor that Wuhan Iron and Steel Corp. (Wisco) released a batch of stocks into the market due to high inventories. However, market participants said that the GOES prices might drop temporarily in China as the strong demand from transformer makers may help to support the prices to rise again.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=63620&division=A2
