[SMM Analysis] Grain-Oriented Silicon Steel Prices to Remain Stable Next Week, with Continued Divergence Between High-End and Low-End Prices

Grain-Oriented Silicon Steel Price Updates

Shanghai B23R085 grade: 11,700-11,700 yuan/mt

Wuhan 23RK085 grade: 11,300-11,300 yuan/mt

This week, the cold-rolled grain-oriented silicon steel market operated steadily overall, with mediocre performance in overall transactions, while the market showed divergence between high- and low-grade products. Market feedback indicated that ferrous metals futures continued to weaken this week, dragging somewhat on market sentiment, but spot grain-oriented silicon steel prices remained firm and generally stable. In April, ordering costs from top-tier enterprises remained stable and were not raised, while traders maintained relatively rational ordering sentiment, with no obvious wait-and-see or cautious mood.

Supply side, high-magnetic-induction HIB resources were relatively tight, while market supply of ordinary CGO grades was relatively sufficient; demand side, rigid demand from the downstream transformer industry was steadily released, and orders from sectors such as UHV and data centers supported demand for high-grade products, while demand for ordinary grades was mediocre. Supported by stable pricing from top-tier steel mills and tight supply of high-grade products, traders kept quotations firm, with no obvious willingness to follow price increases or offer concessions. Downstream purchases were mostly made through restocking on price dips, and overall inquiries and transactions remained at normal levels, with no obvious room for negotiation.

Overall, stable costs and tight supply of high-grade resources underpinned prices, while demand for ordinary grades was relatively weak but faced no downward pressure. Cold-rolled grain-oriented silicon steel prices are expected to continue operating steadily next week, with continued divergence between high- and low-end resources.

Data source statement: Except for public information, all other data was processed and derived by SMM based on public information, market communication, and SMM's internal database models, and is for reference only and does not constitute decision-making advice.

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