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Analysis of China's Electrical Steel Production in the First Three Quarters of 2018

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  Core Tip: In the first three quarters of this year, China produced a total of 7,764,400 tons of electrical steel, of which non-oriented electrical steel increased by 1.57% and oriented electrical steel increased by 9.72%. In the case of non-oriented electrical steel.
  In the first three quarters of this year, China produced a total of 7,764,400 tons of electrical steel, of which non-oriented electrical steel increased by 1.57% and oriented electrical steel increased by 9.72%.
  In the non-oriented electrical steel, in the first three quarters of this year, China's non-oriented electrical steel produced a total of about 6,741,900 tons, including 5,743,500 tons of medium and low grade electrical steel, 842,700 tons of high-grade electrical steel, high efficiency (high magnetic induction) electrical steel. 425,700 tons.
  As of the end of the third quarter of this year, there were about 21 non-oriented electrical steel production enterprises in China, with a dynamic capacity of 10.82 million tons, an increase of 2.2% compared with 2017 production capacity. Among them, Sichuan Ruizhi, Tianjin Chentai, Huangshishan Lixingye, Zhejiang Xiehe Shouxin, Zhejiang Huaying Special Steel, Huaxi Cold Rolled Strip, Xicheng Iron and Steel, Jiangsu Hercules, Foshan Jinxi Jinlan, Shunde Pohang Steel and other enterprises The production capacity utilization rate is low, and the production is in an unsaturated state. In the same period, Jiangyin Haida is in a state of suspension. Initially, this is closely related to market demand, overcapacity of low-end products, and downstream product upgrades. The output of 7 state-owned enterprises of Baowu, Taigang, Shougang, Angang, Maanshan Iron and Steel, Baotou Steel and Benxi Steel totaled 5.0516 million tons, an increase of 4.48% over the same period of 2017. The output from January to September accounted for 74.93% of the national non-oriented electrical steel output. There are 14 joint venture, mixed, collective and private enterprises with a total output of 1,690,300 tons, a decrease of 6.24% over the same period of 2017.
  From the production in the first three quarters of this year, the output of non-oriented electrical steel of state-owned enterprises increased slightly compared with the same period of 2017, while the output of joint ventures, mixed, collective and private enterprises declined.
  Table 1: Regional distribution of non-oriented electrical steel production in China in the first three quarters of 2018
 
Region
Production (10,000 tons)
Number of companies (a)
Huadong Region
321.93
9
North China
199.5
4
North-east area
75.19
2
Central China
43.1
2
South China
28.22
3
Southwest Region
6.25
1
Total
674.19
21

 

  In terms of oriented electrical steel, in the first three quarters of this year, China's oriented electrical steel produced a total of about 903,500 tons, including 262,200 tons of general oriented electrical steel (CGO) and 641,300 tons of high magnetic induction oriented electrical steel (HiB).
  As of the end of the third quarter of this year, there were about 18 oriented electrical steel production enterprises in China, with a dynamic capacity of 1.555 million tons, an increase of 13.82% compared with 2017 production capacity. Among them, Anshan Iron and Steel Co., Ltd. and Ningbo Yinyike Innovation Materials Co., Ltd. have low capacity utilization rate; Chongqing Wangchang Electric (Group) Co., Ltd., Jiangyin Senhao Metal Technology Co., Ltd., Fujian Jinglong Electric Co., Ltd., Jiangsu Hubang Transformer Co., Ltd. The company is newly commissioned this year and is in the process of commissioning production; the output of three state-owned enterprises of Baowu, Shougang and Angang has totaled 667,100 tons, a slight decrease of 0.1% year-on-year, accounting for 73.84% of the total output of nationally oriented electrical steel; 15 private enterprises, The total output was 236,400 tons, a substantial increase of 51.88% year-on-year.
  From the production in the first three quarters of this year, the pattern of high-end and low-end products is obvious. Both Baowu and Shougang use low-temperature slab heating technology to produce high-magnetic-oriented electrical steel (HiB). Private enterprises use medium- and high-temperature QRD technology to produce. Compared with the same period of 2017, the output of state-owned enterprises (CGO) is basically stable. The output of private enterprises has increased by a large margin, with an overall increase of more than 50%.
 
  Table 2: Regional distribution of China's oriented electrical steel production in the first three quarters of 2018
 
Region
Production (10,000 tons)
Number of companies (a)
Huadong Region
71.89
13
North China
15.45
2
Southwest Region
2.92
2
North-east area
0.09
1
Total
90.35
18

 

  In summary, we can see that: First, from January to September this year, China's non-oriented electrical steel capacity utilization rate was 62.31%, and the oriented electrical steel capacity utilization rate was 58.10%, which was lower than the reasonable level of international capacity utilization calculation; According to the data, China's electrical steel is in the transition period from high-speed development to high-quality development, mainly in the early stage of repeated investment, new low-end product projects, resulting in structural overcapacity is becoming more and more obvious, coupled with the supply of raw materials by private enterprises. The impact of production costs and the suspension of production are more. At the same time, due to the energy efficiency upgrade and technological progress of downstream industries, the demand for low-end electrical steel begins to decrease. Third, from January to September this year, the market price trend is basically stable or falling. Strive to return to the reasonable price range; Fourth, predict the new demand for electrical steel entering the fourth quarter or 2019, especially the “One Belt and One Road” initiative recognition, transformer industry energy efficiency upgrade, household appliances frequency conversion, high-efficiency motor intelligence, etc. New demands have been placed on electrical steel.