[SMM Weekly Summary] Mainly Rigid Demand Purchases, the Grain-Oriented Silicon Steel Market Was in the Doldrums This Week

GO Silicon Steel Price Dynamics

Shanghai B23R085 grade: 11,900-11,900 yuan/mt

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

This week, the GO silicon steel market was in the doldrums, with spot cargo showing regional divergence. The Shanghai price was cut by 100 yuan/mt, while Wuhan remained stable. Overall market transactions were moderate. Supply side, steel mill production was stable. In August, the ex-works base price of GO silicon steel was raised by 50 yuan/mt. Coupled with raw material costs providing bottom support, it theoretically underpinned the market, but was heavily impacted by the off-season, making it difficult to reverse the weak spot cargo pattern. Demand side, downstream transformer enterprises were in the traditional off-season. The tender landing progress of the power grid was slower than expected. End-users only maintained rigid demand for sporadic replenishment. Bulk purchase willingness was insufficient. Market transactions were sluggish, and trading sentiment was cautious. It is expected that next week, GO silicon steel will remain in the doldrums, with the market mainly driven by rigid demand transactions.

Data Source Statement: Apart from public information, all other data are processed by SMM based on public information, market communication, and the SMM internal database model, for reference only and do not constitute decision-making advice.

Note: This article is original content of this official account. For any needs related to reprinting, whitelisting, cooperation, etc., please contact us. Without permission, it is prohibited to reprint, modify, use, sell, transfer, display, translate, compile, and disseminate, or in any other form disclose the above content to third parties or permit third parties to use it. Otherwise, once discovered, SMM will pursue legal liability for infringement, including but not limited to demanding compensation for breach of contract, return of unjust enrichment, and compensation for direct and indirect economic losses.