[SMM Weekly Summary] Strong Wait-and-See Sentiment, Non-Oriented Silicon Steel May Be in the Doldrums Next Week

Non-oriented Silicon Steel Price Dynamics

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

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

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

Shanghai market: This week, spot prices of cold-rolled non-oriented silicon steel in Shanghai remained in the doldrums, with no improvement in overall transactions. Market feedback indicates that current demand remains weak, downstream motor enterprises have weak ordering demand and mainly make just-in-time procurement in small batches, traders exhibit strong wait-and-see sentiment, low willingness to stockpile, and not high inventory levels, maintaining a cautious wait-and-see attitude toward the market outlook. Overall, it is expected that spot prices of cold-rolled non-oriented silicon steel in Shanghai will continue to remain in the doldrums next week.

Guangzhou market: This week, the cold-rolled non-oriented silicon steel market in Guangzhou was in the doldrums, and transactions were sluggish. Market feedback indicates that, dragged by weak off-season demand, there is still some room for price decline in non-oriented silicon steel, and traders focused on securing sales. Overall, it is expected that prices of cold-rolled non-oriented silicon steel in Guangzhou will continue to remain in the doldrums next week.

Wuhan market: This week, the cold-rolled non-oriented silicon steel market in Wuhan was in the doldrums, with poor transactions. Market feedback indicates that traders actively sold and actual transactions were negotiable; downstream purchasing enthusiasm was moderate; currently, circulation of state-owned resources in the market is limited, but low-to-medium grades have not yet adjusted their prices. Overall, it is expected that spot prices of cold-rolled non-oriented silicon steel in Wuhan will continue to remain in the doldrums next week.

Data Source Statement:

(In this report, data other than public information come from public information (including but not limited to industry news, seminars, exhibitions, corporate financial reports, broker reports, National Bureau of Statistics data, customs import and export data, and various data released by major associations and institutions), market communication, and SMM's internal database model, and are obtained through comprehensive analysis and reasonable inference by the research team. They are for reference only and do not constitute decision-making advice.

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