[SMM Analysis] Market Participants Have Become More Rational, and Grain-Oriented Silicon Steel Prices May Fluctuate Rangebound Next Week

Published: Mar 20, 2026 13:38

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[Market Participants Became More Rational in Sentiment, and Grain-Oriented Silicon Steel Prices May Fluctuate Rangebound Next Week] In terms of transactions, the procurement pace of end-use industries such as downstream transformers and power equipment slowed down, and purchase willingness remained cautious, with procurement mainly consisting of small-volume, as-needed restocking orders, while large-volume purchasing activity was scarce, resulting in relatively low actual market trading activity. In addition, resources from steel mills’ earlier directed orders arrived successively, and traders’ circulating inventory accumulated steadily. Some merchants offered slight price concessions to accelerate turnover and boost shipments, but the overall room for concessions remained limited and failed to effectively lift transactions.

GO Silicon Steel Price Update

Shanghai B23R085 grade: 11,600-11,600 yuan/mt

Wuhan 23RK085 grade: 11,200-11,200 yuan/mt

This week, the GO silicon steel market mainly fluctuated upward, with prices of some grades rising slightly. Overall trading sentiment was average, and wait-and-see sentiment persisted throughout the week.

According to market feedback, GO silicon steel prices in Shanghai rose slightly by 100 yuan/mt this week, while prices in Wuhan remained temporarily stable. Leading steel mills such as Baowu did not introduce new pricing adjustment policies, and base order prices remained at previous levels, though some procurement discounts were canceled, indirectly pushing up purchasing costs. The slight strengthening in ferrous metals futures this week had limited spillover effects on GO silicon steel. The supply and demand fundamentals of GO silicon steel did not change significantly, and prices lacked the core driving force for wild swings.

In terms of transactions, the procurement pace of downstream end-use industries such as transformers and power equipment slowed down, and purchase willingness remained cautious, with procurement mainly focused on small-lot restocking based on immediate needs. Bulk procurement was scarce, and actual market trading activity was relatively weak. In addition, resources from steel mills' earlier directed orders arrived one after another, and traders' circulating inventory accumulated steadily. Some merchants offered slight concessions to accelerate turnover and boost shipments, but the overall room for concessions was limited and failed to effectively lift transactions.

Currently, market participants have become more rational in sentiment, with neither blind rush to buy amid continuous price rise nor sharply bearish expectations. Most are closely watching steel mills' subsequent pricing policies and the release of downstream orders. Overall, the GO silicon steel market is expected to maintain a stable trend next week, mainly consolidating within a narrow range.

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