[SMM Analysis] Market Confidence Recovery Remains Sluggish, GO Silicon Steel Prices May Remain in the Doldrums Next Week

Price Dynamics of Grain-Oriented Silicon Steel

Shanghai B23R085 Grade: 11,900-12,100 yuan/mt

Wuhan 23RK085 Grade: 11,400-11,600 yuan/mt

This week, grain-oriented silicon steel prices fluctuated rangebound, with overall sluggish trading activity in the market. Market feedback indicated that the loose fundamentals in the spot market showed little improvement, coupled with persistently weak downstream demand, resulting in weak actual transactions. Spot inventory remained at a relatively high level, and traders, eager to accelerate turnover and recoup funds, maintained stable offers but increased negotiation room for actual deals. Downstream enterprises, such as transformer manufacturers, influenced by production pace and cost control, primarily purchased as needed, held cautious expectations for the future market, and rarely restocked, with most opting to maintain existing inventory levels. Overall, current market confidence remains weak, and the supply-demand imbalance has not been effectively alleviated. Spot prices for grain-oriented silicon steel are expected to remain in the doldrums next week.

Data Source Statement: Data not from public sources are processed by SMM based on public information, market communication, and SMM's internal database models, for reference only and not as decision-making advice.

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