The Market Price of NO in China Rising for Two Straight Weeks

摘要

The market price of non-oriented electrical steel (NO) in China has been rising for two straight weeks since mid-January. The first week of the two saw the price rise by 50 CNY ($7) and the second 80 CNY ($12), totaling 130 CNY($20). The 50-CNY-increase is considered to be a reaction to Bao Steel's 50-CNY markup on NO for March shipmentsto domestic customers, while the cause of the second rise remains unknown. The price of hot-rolled steel coil (HRC) hasalso rebounded; however, the range of the increase on NO is larger than that on HRC, which implies that the second riseis different from what a normal markup would make, according to a source.