Price War in Grain-Oriented Electrical Steel Ripples Through Producers
A global price war in the market for grain-oriented electrical steel is generating intense pressure on producers outside China, impacting especially the two remaining manufacturers of GOES in Europe – thyssenkrupp Electrical Steel and ArcelorMittal. Plant shutdowns, company pleas for regulatory protection and government support measures are aspects of the fray as exporters in China flood the market and erode price levels. Laced with distinctive magnetic properties, the specialty steel is a key material for substation transformers and large generators for wind power, along with other electromechanical products dependent upon magnetic functionality. […]