[SMM Analysis] Market Expectations Turn Cautious, Non-oriented Silicon Steel Prices to Show a Stable Trend with Weak Momentum Next Week

게시됨: Mar 21, 2025 11:26

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[Market Expectations Turn Cautious, Non-Oriented Silicon Steel Prices to Show a Stable but Weak Trend Next Week] This week, HRC futures fluctuated downward in a narrow range. The prices of resources from private steel mills experienced a volatile trend, first declining then rising, but overall remained relatively stable. Downstream end-users continued with a cautious purchasing strategy, focusing mainly on restocking based on actual demand. Inventory structures among traders showed significant differentiation, with low-grade resources being in short supply and medium- to high-grade resources accounting for more than half.

Non-Oriented Silicon Steel Price Dynamics

Shanghai B50A800 Grade: 5,150 yuan/mt
Guangzhou B50A800 Grade: 4,900 yuan/mt
Wuhan 50WW800 Grade: 4,900 yuan/mt

Shanghai Market:
This week, the price of cold-rolled non-oriented silicon steel fluctuated rangebound with a slow market transaction pace. HRC futures showed a narrow-range downward trend, and prices of resources from private steel mills experienced a decline followed by a rebound, remaining relatively stable overall. Downstream end-users continued to adopt a cautious purchasing strategy, focusing mainly on restocking for essential needs. Traders' inventory structures were clearly divided, with low-grade resources in short supply and medium-to-high grade resources accounting for more than half. In summary, market participants have become more conservative in their expectations for the future, and it is expected that the price of non-oriented silicon steel in Shanghai will show a stable trend with a weak bias next week.

Wuhan Market:
This week, the spot price of cold-rolled non-oriented silicon steel remained stable, with market transactions performing below average. Affected by the fluctuating and weakening futures market, there was room for downward negotiation in the quotations of non-oriented silicon steel in Wuhan. End-use demand remained weak, and purchasing decisions became more rational. Traders promoted transactions through flexible pricing strategies, with some grades and specifications having a 20-50 yuan/mt downward negotiation space. In terms of inventory, the stock of non-oriented silicon steel was flat MoM, remaining at a low level. Overall, the market generally adopted a wait-and-see attitude, and it is expected that the price of non-oriented silicon steel in Wuhan will continue to consolidate sideways next week.

Guangzhou Market:
This week, prices of some grades and specifications of cold-rolled non-oriented silicon steel saw a correction, with insufficient trading activity. The futures market fluctuated downward, and end-user purchase willingness remained low. Coupled with increased cost pressure in the distribution channel and ample inventory, traders actively lowered their quotes to promote sales. Supply remained stable, with operating rates at surrounding steel mills staying above 90%. In summary, the market is experiencing a tug-of-war between sellers and buyers, and it is expected that the price of non-oriented silicon steel in Guangzhou will fluctuate within a range next week.

데이터 출처 설명: 공개 정보를 제외한 모든 데이터는 SMM이 공개 정보, 시장 커뮤니케이션 및 SMM 내부 데이터베이스 모델을 기반으로 가공한 것입니다. 본 자료는 참고용이며 의사결정 권고를 구성하지 않습니다.

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