[SMM Weekly Summary] Short-term spot grain-oriented silicon steel lacks downward momentum; next week, grain-oriented silicon steel prices may remain stable temporarily.

Grain-Oriented Silicon Steel Price Dynamics

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

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

This week, spot prices for cold-rolled grain-oriented silicon steel remained stable overall, with market trading holding steady. After the previous steel mill price adjustments were fully absorbed by the market, trader sentiment became more rational, keeping spot price centers within their established range with limited fluctuation.

Demand side, just-in-time procurement by transformer and power equipment enterprises continued as usual, while end-users replenished inventory in batches as needed, with a small volume of forward orders also being locked in, underpinned by solid restocking demand. Supply side, production schedules at steel mills remained stable, with mainstream specification goods released normally, leaving overall circulating inventory ample and no significant pressure for inventory buildup.

Looking ahead, mainstream steel mill ex-works prices are expected to hold steady; coupled with sustained investment growth in the power grid during the 15th Five-Year Plan period, orders for UHV and data center power transmission and transformation projects are steadily being released, boosting medium- and long-term downstream demand expectations. Based on a comprehensive assessment, spot prices lack downward drivers in the short term, and the cold-rolled grain-oriented silicon steel spot market is expected to continue its steady trend next week.

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

Note: This article is an original work of this official account. For reprinting, account whitelisting, or cooperation requests, please contact us. Without permission, content shall not be reprinted, modified, used, sold, transferred, displayed, translated, compiled, or disseminated, nor disclosed to any third party or licensed for third-party use in any form. Otherwise, upon discovery, Shanghai Metals Market will pursue liability for infringement through legal means, including but not limited to demanding contractual breach compensation, the return of unjust enrichment, and compensation for direct and indirect economic losses.