From what I've heard, there's really good steel in them. They are somewhat sought after as a starting point for a custom gun where someone just wants a good frame and slide to build on.
Pre-ban, I think they're made in China and we can't get them in the U.S. anymore? (Something like that.) That niche has largely been filled by companies such as Rock Island Arms (Phillipines) who also makes a solid, basic, 1911 out of good metal.
Norinco is still available in Canada, I think.
[All of the above is going by memory of things others have told me. Don't quote me or anything, lol.]
Norincoa are sought after as a custom gun build because they are buildt exactly to true 1911 specs unlike other foreign made 1911.
The steel are made from repurposed railroad ties so are extremely tough and durable. Many smiths wont work on one unless you also pay for new bits of doing and drill work. This makes them super durable
Can usually sell for 500-600 depending on condition