[SMM Weekly Summary] Demand provides a floor, next week grain-oriented silicon steel prices will be generally stable with a slight rise.

Grain-Oriented Silicon Steel Price Dynamics

Shanghai B23R085 grade: 12,200-12,200 yuan/mt

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

This week, spot prices for cold-rolled grain-oriented silicon steel remained stable, with market trading calm and orderly. After the earlier price hike policies of steel mills were implemented, the market entered a digestion period. Mainstream quotations remained steady, with no significant price changes.

Supply side, production paces at various steel mills were stable, mainstream resources were delivered normally, and supply was sufficient and orderly. Social inventory remained within a reasonable range, with no significant pressure from rapid inventory buildup or destocking. Supply and demand maintained a weak balance. Demand side, transformer and power equipment enterprises made just-in-time procurement on a regular basis. End-users replenished stock in batches as needed, with no concentrated stockpiling activities observed. Transactions were dominated by just-in-time orders. Demand support was solid, and no price-cutting to boost sales occurred.

Mainstream steel mills raised their July EXW prices, showing a stronger willingness to hold prices firm. Coupled with increased power grid investment under the 15th Five-Year Plan, and UHV and data center substation projects continuously releasing orders, medium and long-term downstream demand expectations are positive. A comprehensive assessment suggests that spot prices lack a basis for significant decline in the short term. Supported by cost and order factors, cold-rolled grain-oriented silicon steel spot market is expected to be generally stable with slight rise next week, with mainstream quotations potentially having moderate upside room.

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

Note: This article is original content of this official account. For requests related to reprinting, whitelisting, or cooperation, please contact us. Without permission, the above content may not be reproduced, modified, used, sold, transferred, displayed, translated, compiled, or disseminated, nor may it be disclosed to third parties or licensed for use by third parties in any other form. Otherwise, upon discovery, Shanghai Metals Market will pursue legal action to hold the infringing party liable, including but not limited to claims for contractual breach of contract liability, restitution of unjust enrichment, and compensation for direct and indirect economic losses.