According to MetalMiner IndX℠ data, grain-oriented electrical steel coil prices and electrical steel coil surcharges per metric ton have both been consistently declining over the past half-year, and the GOES coil price per ton as of September 2012 is the lowest it’s been since June 2006.
A key component in manufacturing electrical power transformers, grain-oriented electrical steel imports have surged before. Back in May 2012, Japan, Korea and Poland were all on SSINA’s watch list as the primary culprits, in addition to the Czech Republic, according to SSINA release. A 2011 analysis showed that Japanese electrical steel producers were indeed guilty of dumping the metal.
“Annualizing March data for full year 2012 would result in the following: a 38 percent increase in imports over 2011 by value, and a similar 38 percent increase over 2011 in quantity,” said Hartquist back in May. “If this trend continues through 2012, it would represent a 340 percent increase in tons over 2009.”