[SMM Analysis] Next week, Shanghai's oriented electrical steel market will remain in the doldrums, with relatively small possibility of volatile prices.

Published: Jun 26, 2025 17:33

Save

[Next week, Shanghai's electrical steel market is expected to remain in the doldrums, with relatively small possibility of volatile prices] Looking ahead at the subsequent market, the current market transaction performance remains sluggish, and it is difficult to reverse the situation of insufficient willingness to purchase among downstream enterprises in the short term. Considering various factors comprehensively, it is anticipated that the Shanghai electrical steel market will maintain a doldrums-like operation next week, with relatively small possibility of volatile prices.

Price Dynamics of Grain-Oriented Electrical Steel

Shanghai B23R085 grade: 14,300-14,500 yuan/mt

Wuhan 23RK085 grade: 14,100-14,600 yuan/mt

This week, the price of cold-rolled grain-oriented electrical steel in Shanghai remained stable, with market transactions remaining sluggish and showing no signs of significant improvement. The ferrous metals series futures market fluctuated downward slightly this week, dampening market participants' confidence and leading to widespread pessimistic expectations. This has also had a negative impact on the grain-oriented electrical steel market, with merchants becoming increasingly cautious in their operations.

From a fundamental perspective, in the trade and circulation sector, the inventory of grain-oriented electrical steel in Shanghai is at a relatively low level. Given the current poor market expectations, traders have further reduced their actual purchases to mitigate inventory risks. With the market currently in an off-season for demand, end-users are extremely cautious in their procurement activities. The downstream demand for grain-oriented electrical steel is mainly concentrated in fields such as transformers. Although the demand for transformers from the power industry is relatively stable, it lacks the momentum for large-scale restocking due to the overall economic environment and market expectations. Other fields, such as electronic equipment, have also adopted a purchasing-as-needed strategy for grain-oriented electrical steel based on the current market situation.

Looking ahead to the subsequent market, with market transactions remaining persistently sluggish and downstream enterprises showing insufficient willingness to purchase, this situation is unlikely to change in the short term. Considering various factors comprehensively, it is expected that the Shanghai grain-oriented electrical steel market will maintain a weak and stable operation trend next week, with relatively small possibilities of volatile price movements.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

22 hours ago

Before the holiday, the black chain is unlikely to see a trend-driven market [SMM Steel Industry Chain Weekly Report].

This week, ferrous metals were in the doldrums, with coking coal and coke staging a mid-week rise. At the beginning of the week, financial markets experienced sharp fluctuations, dragging down sentiment in the ferrous chain and leading to a pullback in futures. Mid-week, Indonesia's cut to coke production quotas drove coking coal and coke futures to lead the gains, though the impact was more pronounced on thermal coal, while coking coal's rise was largely sentiment-driven and short-lived. In the latter part of the week, finished products continued their seasonal inventory buildup, and support from the raw material side weakened, causing the entire ferrous chain to pull back. In the spot market, with the Chinese New Year holiday approaching, purchasing activity slowed down further, with end-users only making limited, as-needed purchases at low prices.

22 hours ago

MMi Daily Iron Ore Report (February 6)

Today, the DCE iron ore futures continued to hit bottom today, with the most-traded contract I2605 closing at 760.5 yuan/mt, down 1.23% from the previous trading day. Spot prices fell by 5–10 yuan/mt compared to the previous trading day.

22 hours ago

[SMM Chromium Daily Review] Inquiries and Transactions Weakened, Chromium Market Showed Mediocre Performance Before the Holiday

[SMM Chrome Daily Review: Trading and Inquiries Weakened, Chrome Market Showed Mediocre Performance Before the Holiday] February 6, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,500-8,600 yuan/mt (50% metal content), flat MoM from the previous trading day...

22 hours ago