[SMM Weekly Wrap] Market Sees Significant Off-Season Impact, Non-Oriented Silicon Steel Likely to Stay in the Doldrums Next Week

Non-Oriented Silicon Steel Price Dynamics

Shanghai’s B50A800 grade: 4,380-4,380 yuan/mt

Guangzhou’s B50A800 grade: 4,200-4,200 yuan/mt

Wuhan’s 50WW800 grade: 4,300-4,300 yuan/mt

Shanghai market: This week, spot prices for cold-rolled non-oriented silicon steel in the Shanghai market were in the doldrums, with overall transaction performance showing no improvement. Market feedback indicated that the market remained in the traditional off-season, downstream motor enterprises exhibited strong wait-and-see sentiment, primarily purchasing as needed, and supply pressure persisted, with some traders lowering their offers to facilitate shipments. Overall, spot prices for cold-rolled non-oriented silicon steel in the Shanghai market are expected to remain in the doldrums next week.

Guangzhou market: This week, the cold-rolled non-oriented silicon steel market in Guangzhou was in the doldrums, with moderate transaction performance. Market feedback indicated that the market was in a demand off-season this week, downstream motor enterprises showed average purchasing demand, and traders reported that the trading atmosphere remained sluggish. Overall, cold-rolled non-oriented silicon steel prices in the Guangzhou market are expected to remain in the doldrums next week.

Wuhan market: This week, cold-rolled non-oriented silicon steel prices in the Wuhan market remained temporarily stable, with poor transaction performance. Market feedback indicated that the industry was in a traditional off-season, downstream demand was weak, the market trading atmosphere was sluggish, and some traders cut prices to sell in order to reduce inventory and capital pressure. Overall, spot prices for cold-rolled non-oriented silicon steel in the Wuhan market are expected to be in the doldrums next week.

Data source statement:

(Data in this report, other than publicly available information, are derived from public sources (including but not limited to industry news, seminars, exhibitions, corporate financial reports, broker reports, National Bureau of Statistics (NBS) data, customs import and export data, and various data published by major associations and institutions), market communication, and SMM's internal database models. They are obtained through comprehensive analysis and reasonable inferences made by the research team, for reference only, and do not constitute decision-making advice.

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