SMM Orientation Silicon Steel Analysis: Orientation Silicon Steel Prices Bottom Out, Can Russian Resource Imports Continue?

From April to June this year, the price of orientation silicon steel experienced a sharp drop, with the private factory's 20Q120 product falling from the high of 17000-18000 yuan/ton at the beginning of the year to the current 11000-12000 yuan/ton, which is close to the cost line of private steel mills. In addition to the expansion of production capacity of private steel mills in China and the stage decline of domestic demand, the large import of Russian resources also had an impact on the market of medium and low grades, exacerbating the supply-demand contradiction.