Grain-Oriented Silicon Steel Price Update
Shanghai B23R085 grade: 11,800-11,800 yuan/mt
Wuhan 23RK085 grade: 11,600-11,600 yuan/mt
This week, the cold-rolled GO silicon steel spot market was overall in the doldrums, with mediocre trading performance and a lack of clear momentum for change. Ferrous metals futures continued to weaken this week, cooling overall steel market sentiment, which also exerted some pressure on the GO silicon steel spot market, with overall trading mentality turning conservative.
Demand side, downstream end-users such as transformer and power equipment enterprises maintained stable operations, but overall procurement pace remained cautious as the industry entered a period of mediocre demand. Enterprises mostly adhered to the principle of purchasing as needed, only maintaining daily rigid-demand restocking, with low willingness for bulk concentrated purchases, and insufficient actual transaction volume in the market. Supply side was relatively stable, with traders' overall inventory pressure manageable, mainly maintaining reasonable regular inventory levels, showing low willingness to actively stockpile or lock in goods, and generally choosing to wait and see on future market trends.
Currently, the market was in a tug-of-war between sellers and buyers, with no clear driver for significant declines, while weak end-use demand also struggled to support price rises, and the market overall exhibited a pattern of weak and range-bound fluctuations. Considering overall market supply and demand, sentiment, and futures trends, short-term market fundamentals showed limited change, and it is expected that Shanghai cold-rolled GO silicon steel spot prices will continue in the doldrums next week, with trading atmosphere unlikely to see notable improvement.
Data source disclaimer: Data other than publicly available information is derived from public information, market communication, and SMM's internal database models, processed by SMM for reference only and does not constitute decision-making advice.
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