[SMM Analysis] Raw Material Support Remains Relatively Firm; Non-Oriented Silicon Steel Market May Be in the Doldrums Next Week

Non-Oriented Silicon Steel Price Dynamics

Shanghai B50A800 grade: 4,400-4,400 yuan/mt

Guangzhou B50A800 grade: 4,350-4,350 yuan/mt

Wuhan 50WW800 grade: 4,320-4,320 yuan/mt

Shanghai market: This week, spot prices of cold-rolled non-oriented silicon steel in the Shanghai market remained stable, with overall market transactions performing mediocrely. Market feedback indicated that current market demand was weak, downstream motor enterprises were cautious in procurement, mainly making just-in-time procurement; raw material support remained relatively firm, providing certain support for spot silicon steel prices, and traders mainly sold at flat prices. Overall, spot prices of cold-rolled non-oriented silicon steel in the Shanghai market are expected to be in the doldrums next week.

Guangzhou market: This week, cold-rolled non-oriented silicon steel prices in the Guangzhou market remained temporarily stable, with a mediocre trading atmosphere. Market feedback indicated that current ordering costs from state-owned steel mills remained firm, but downstream motor enterprises purchased as needed with moderate purchasing enthusiasm, traders mainly kept quotations stable, and there was some room for negotiation in actual transactions. Overall, cold-rolled non-oriented silicon steel prices in the Guangzhou market are expected to show a trend of being in the doldrums next week.

Wuhan market: This week, the cold-rolled non-oriented silicon steel market in Wuhan was in the doldrums, with a lukewarm trading atmosphere. Market feedback indicated that steel mill June futures prices remained firm, but circulating resources from local state-owned steel mills in the market increased somewhat, downstream end-users' purchasing pace was slow, market trading inventory edged up, and traders held cautious expectations for the market outlook. Overall, spot prices of cold-rolled non-oriented silicon steel in the Wuhan market are expected to be in the doldrums next week.

Data Source Statement:

(Other data in this report, apart from public information, are derived from public information (including but not limited to industry news, seminars, exhibitions, corporate financial reports, brokerage reports, National Bureau of Statistics (NBS) data, customs import and export data, various data published by major associations and institutions, etc.), market communication, and SMM's internal database models, through comprehensive analysis and reasonable inference by the research team, for reference only and not constituting decision-making advice.

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