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China's GO Electrical Sheet Export Increased By 3.6 Times From A Year Earlier
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Sunday, 16 Dec 2012
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China's cumulative export quantity of grain-oriented electrical steel sheets during January through October was 32 thousand tonnes which reached 3.6 times of the same period last year. It is said that as China's GO electrical sheets had been mainly for the domestic market and very rare for export, those had had little effect on the overseas market. However, if export of that country increases furthermore, Chinese GO electrical sheets are predicted also to have a pricing power just like a benchmark of other Chinese steel products such as hot-rolled steel coils. They might become serious problems for the Japanese GO electrical sheets.

In China, the two major powers of Baoshan Iron and Steel and Wuhan Iron & Steel have the capability to cover domestic demand. As its domestic production of them is also rapidly encouraged, export quantity of GO electrical sheets from Japan and Korea is decreasing. In the Chinese market, as both companies have severely competed each other with no recovery of demand. As might be expected, price down is said to reach a feeling of their limits.

As excess in the domestic market is gradually flowing to the export market, 9 thousand tonnes to Korea, and 1 thousand tonnes each to Japan, Thailand and Taiwan were exported in Asia during January through October. Other than the Asian countries, 3 thousand tonnes to Middle East, 5 thousand tonnes to the EU, 3 thousand tonnes to Central and South America, 2 thousand tonnes to India and so on were exported. As export of them has just started, and they are not necessarily to have gained creditability for products, rapid increase for export is hardly thought. However, it is sure that in the near future, they will penetrate into the world market just like other steel products. At present, their prices are reported to be cheaper by USD 300 than those of Japan.

Source - The TEX Report

(www.steelguru.com)

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