Spot Prices of Cold-Rolled Non-Oriented Silicon Steel in Shanghai Seen Stable Ahead of Chinese New Year

Spot Prices of Cold-Rolled Non-Oriented Silicon Steel Likely to Remain Stable Before Chinese New Year"

This week, the price of cold-rolled non-oriented silicon steel in Shanghai remained stable. Traders reported that HRC spot prices started to pull back, while inventory levels in the Shanghai market remained low. There were virtually no substantial transactions in the market. Steel mills maintained normal production during the Chinese New Year period, with some resources still arriving before the holiday. Traders' inventories entered the inventory buildup phase. Market prices showed no significant changes before the Chinese New Year, and after the holiday, prices are unlikely to improve due to fundamental factors. Traders maintained cautious sentiment with limited orders. In summary, the non-oriented silicon steel market is expected to close early, and the spot prices of cold-rolled non-oriented silicon steel in the Shanghai market are likely to remain stable before the Chinese New Year.