[SMM Weekly Summary]Cost Support Offset Weak Off-Season Demand, Non-Oriented Silicon Steel Prices Held Steady This Week

Non-oriented Silicon Steel Price Dynamics

Shanghai B50A800 Grade: 4350-4350 yuan/mt

Guangzhou B50A800 Grade: 4150-4150 yuan/mt

Wuhan 50WW800 Grade: 4150-4150 yuan/mt

Shanghai Market: This week, spot prices for cold-rolled non-oriented silicon steel in Shanghai remained in the doldrums, with overall transactions continuing to reflect off-season characteristics. According to market feedback, the industry was in a seasonal consumption off-season, with a subdued trading atmosphere. Recently, raw material prices rose, providing cost support for spot prices. Additionally, state-owned steel mills maintained firm ordering policies, and traders showed strong willingness to sell at stable prices, with insufficient motivation to cut prices and dump goods. Overall, cold-rolled non-oriented silicon steel prices in Shanghai are expected to remain weak and stable next week, with the market adjusting along with cost-side fluctuations.

Guangzhou Market: This week, the cold-rolled non-oriented silicon steel market in Guangzhou remained stable, with sluggish transaction performance. Market intelligence indicated strong cost support, but the downstream was still in the traditional consumption off-season, with end-use industries such as motors and home appliances maintaining low operating rates. Enterprises mostly restocked in small batches on demand, showing insufficient willingness to proactively stockpile. To accelerate destocking, traders widened their negotiation room WoW, leading to mediocre overall transaction performance. Overall, cold-rolled non-oriented silicon steel prices in Guangzhou are expected to remain in the doldrums next week.

Wuhan Market: This week, the cold-rolled non-oriented silicon steel market in Wuhan remained stable, with weak transaction performance. Market feedback indicated that after earlier quote catch-up declines, actual trade transactions still involved some negotiation room. Downstream purchasing enthusiasm was moderate, mainly limited to rigid demand purchases. Overall, spot prices for cold-rolled non-oriented silicon steel in Wuhan are expected to maintain a weak and stable trend next week.

Data Source Statement:

(All other data in this report, apart from publicly available information, is sourced from public information (including but not limited to industry news, seminars, exhibitions, corporate financial reports, brokerage reports, National Bureau of Statistics data, customs import and export data, and various data published by major associations and institutions), market communication, and reliance on SMM's internal database model. It is derived through comprehensive analysis and reasonable inference by the research team, and is for reference only, not constituting any decision-making advice.

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