[SMM Weekly Summary] Leading Steel Mills Hold Prices Firm, Non-Oriented Silicon Steel May Run in the Doldrums Next Week

Non-oriented Silicon Steel Price Dynamics

Shanghai B50A800 Grade: 4,380-4,380 yuan/mt

Guangzhou B50A800 Grade: 4,200-4,200 yuan/mt

Wuhan 50WW800 Grade: 4,280-4,280 yuan/mt

Shanghai market: This week, spot prices of cold-rolled non-oriented silicon steel in Shanghai were in the doldrums, and overall transaction performance remained sluggish. Market feedback indicated that the market was currently in the demand off-season, and downstream motor enterprises’ purchase willingness was weak. Although leading steel mills raised the base price of non-oriented silicon steel by 50 yuan/mt, transaction improvement remained unapparent. Most traders only maintained routine inventory levels, with low willingness to stockpile, and held a cautious wait-and-see sentiment overall. Overall, spot prices of cold-rolled non-oriented silicon steel in Shanghai are expected to stay in the doldrums next week.

Guangzhou market: This week, the cold-rolled non-oriented silicon steel market in Guangzhou was in the doldrums, with mediocre transaction performance. Market feedback indicated that traders’ spot quotes were weak and stable, and there was room for negotiation in actual transactions. Downstream purchasers showed weak willingness to purchase, and overall market trading atmosphere was mediocre. Steel mills raised the base price of non-oriented silicon steel by 50 yuan/mt, but market acceptance was limited, and prices of mid- and low-grade products did not follow with noticeable adjustments yet. Overall, spot prices of cold-rolled non-oriented silicon steel in Guangzhou are expected to remain in the doldrums next week.

Wuhan market: This week, the cold-rolled non-oriented silicon steel market in Wuhan trended weakly, with poor transaction performance. Market feedback indicated that demand remained persistently weak; downstream motor enterprises’ purchase willingness was weak, and they mostly adopted small-batch, batch-by-batch just-in-time procurement. Insufficient demand support led spot prices to edge down, and a strong wait-and-see atmosphere prevailed in the market. Overall, spot prices of cold-rolled non-oriented silicon steel in Wuhan are expected to remain in the doldrums next week.

Data Source Statement:

(Data other than public information in this report are all from public information (including but not limited to industry news, seminars, exhibitions, corporate financial reports, broker reports, National Bureau of Statistics (NBS) data, customs import and export data, various data published by major associations and institutions, etc.), market communication, and based on SMM’s internal database models, comprehensively analyzed and reasonably inferred by the research team, for reference only and do not constitute decision-making advice.

Shanghai Metals Market (SMM) reserves the final interpretation right of this statement and the right to adjust and modify the statement content according to actual circumstances.