[SMM Analysis] Grain-Oriented Silicon Steel Prices Will Remain Consolidated Next Week, with Limited Fluctuations

Grain-Oriented Silicon Steel Price Updates

Shanghai B23R085 grade: 11,700-11,700 yuan/mt

Wuhan 23RK085 grade: 11,300-11,300 yuan/mt

This week, the cold-rolled grain-oriented silicon steel market edged up slightly overall, but market trading sentiment remained sluggish, and actual transactions fell short of expectations. According to market feedback, the current core downstream demand mainly came from transformer manufacturing enterprises. Affected by the traditional industry off-season, enterprises showed weak purchase willingness and mostly maintained strategies of digesting their own inventory and making small-volume replenishments based on demand. Acceptance of current prices was stable, but the lack of momentum for large-scale procurement led to weak actual transaction performance in the grain-oriented silicon steel market. Due to inventory pressure, traders offered slight discounts on some specification resources.

At present, most traders maintained reasonable standing inventory, while some leading traders held ample standing inventory covering all major grades across specifications. However, there was no overall willingness to actively build inventory, and order volumes were adjusted strictly according to actual sales to avoid the risk of inventory buildup. Meanwhile, market participants generally maintained a cautious wait-and-see attitude toward the future market. The current supply side of grain-oriented silicon steel remained stable, while the demand side was affected by the relatively slow implementation pace of power construction projects, resulting in a slow release pace and making it difficult to form effective support.

Overall, cold-rolled grain-oriented silicon steel prices are expected to maintain a consolidating trend next week, with limited overall fluctuations. The specific trend still needs to be monitored in light of futures fluctuations and the release of downstream demand.

Data source statement: Except for public information, all other data is processed and derived by SMM based on public information, market communication, and SMM's internal database model, and is for reference only and does not constitute decision-making advice.

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