[SMM Weekly Summary] Demand Underperforms; Grain-Oriented Silicon Steel Prices Likely to Remain in the Doldrums Next Week

Grain-oriented Silicon Steel Price Dynamics

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

Wuhan 23RK085 grade: 11,200-11,200 yuan/mt

This week, China's grain-oriented silicon steel prices remained stable, with lackluster transactions driven mainly by rigid demand purchases.

This month, grain-oriented silicon steel supply was stable, with ample supply of low-end grades lacking upward momentum; high magnetic induction grades showed resilience supported by long-term ultra-high voltage planning, but short-term benefits have yet to materialize, making it difficult to drive spot price increases, with the overall market moving sideways. Currently, power grid tender orders still need time to be implemented, and demand performance is weak, providing limited support to prices. Overall, structural supply pressure persists in the market, and project demand implementation still requires time. Grain-oriented silicon steel prices are likely to remain in the doldrums next week.

Data Source Statement:

(All data in this report, except for publicly available information, are derived from public sources (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, and various data published by major associations and institutions), market communication, and SMM's internal database models, and are produced through comprehensive analysis and reasonable inference by the research team. They are for reference only and do not constitute decision-making advice.

Shanghai Metals Market reserves the final right to interpret the terms of this statement and the right to adjust and modify the statement content based on actual circumstances.