[SMM Weekly Summary] Ample Cost and Sentiment Support — Grain-Oriented Silicon Steel Prices May Hold Up Well with Generally Stable with Slight Rise Next Week

Grain-Oriented Silicon Steel Price Update

Shanghai B23R085 grade: 11,900-11,900 yuan/mt

Wuhan 23RK085 grade: 11,700-11,700 yuan/mt

Cold-rolled GO silicon steel spot prices fluctuated upward this week, with overall market trading sentiment recovering steadily. Market feedback indicated that orders from downstream transformer and power equipment enterprises were being steadily released recently, end-user restocking demand picked up, and purchasing enthusiasm improved notably compared with the previous period, no longer limited to rigid-demand purchases, with small and medium-sized restocking orders increasing. Raw material cost support remained solid, and combined with mainstream steel mills raising ex-factory base prices for June, this provided strong underpinning for the spot market, with bullish sentiment continuing to heat up. Traders showed strong willingness to hold prices firm, spot quotations were steadily raised in line with market trends, low-priced supplies were scarce, and overall shipments pace was smooth. Overall, the current supply-demand pattern continued to improve, with ample cost and sentiment support. Cold-rolled GO silicon steel spot prices are expected to hold up well and remain generally stable with slight rise next week.

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