This week, the transaction price of B50A800 grade non-oriented silicon steel in the Shanghai market was around 5,200 yuan/mt.
This week, the transaction price of B50A800 grade non-oriented silicon steel in the Guangzhou market was around 5,000 yuan/mt.
This week, the transaction price of 50WW800 grade non-oriented silicon steel in the Wuhan market was around 5,000 yuan/mt.
Shanghai Market: This week, the price of cold-rolled non-oriented silicon steel in the Shanghai market remained stable, with overall transactions relatively weak. Market-wise, HRC futures fluctuated downward this week, and HRC spot prices showed a slight decline, but the impact on non-oriented silicon steel prices was relatively small. The main reasons were shortages of low-grade resources and a reduction in overall resource supply. Additionally, the January 2025 futures policies for non-oriented silicon steel from Baowu, Ansteel, and Bensteel Group remained flat, reflecting the difficulty of price increases for non-oriented silicon steel at the year-end. Recently, market traders have been operating cautiously, with some even indicating challenges in supporting year-end prices. Certain steel mills maintained prices by offering discounts on deliveries or delaying deliveries of certain specifications. Overall, prices of some grades of non-oriented silicon steel in the Shanghai market are expected to decline next week.
Wuhan Market: This week, the spot prices of cold-rolled non-oriented silicon steel in the Wuhan market remained stable. Market-wise, Baosteel's January futures settlement prices remained flat. Most merchants reported shortages of certain grades of spot products, but downstream demand was moderate, with purchasing as needed being the main approach. End-users lacked stockpiling plans, and overall transaction activity was lukewarm. Traders found it difficult to raise prices and held a cautious and slightly pessimistic outlook for the market. Overall, the spot prices of non-oriented silicon steel in the Wuhan market are expected to fluctuate next week.
Guangzhou Market: This week, the spot prices of cold-rolled non-oriented silicon steel in the Guangzhou market fluctuated. Market-wise, the ferrous metals series futures market showed a downward trend this week, with spot price quotations being chaotic. Affected by weak demand, some merchants stood firm on quotes but achieved limited transactions, while others showed a strong willingness to sell at lower prices but also struggled to close deals. As the year-end approaches, market activity has slowed, and merchants reported slow fund recovery. Overall, the spot prices of non-oriented silicon steel in the Guangzhou market are expected to undergo narrow adjustments next week.
