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 4,900 yuan/mt.
This week, the transaction price of 50WW800 grade non-oriented silicon steel in the Wuhan market was around 4,900 yuan/mt.
Shanghai Market: This week, the price of cold-rolled non-oriented silicon steel in the Shanghai market remained stable. Traders reported that spot HRC prices began to pull back, while inventory levels in the Shanghai market remained low, with virtually no substantial transactions. Steel mills maintained normal production during the Chinese New Year period, and some resources were still arriving before the holiday, leading to an inventory buildup for traders. Market prices showed no significant changes before the holiday, and prices are unlikely to improve after the holiday due to fundamental factors. Traders maintained cautious sentiment with limited orders. In summary, the non-oriented silicon steel market is expected to close early, and the spot price of cold-rolled non-oriented silicon steel in the Shanghai market is likely to remain stable before the Chinese New Year.
Wuhan Market: This week, the price of cold-rolled non-oriented silicon steel in the Wuhan market fluctuated rangebound. Traders reported a generally moderate trading atmosphere, with the procurement costs of resources from state-owned steel mills remaining firm. Additionally, steel mill shipments continued to decline, and traders' spot inventory levels were relatively low. With the Chinese New Year approaching, downstream end-users began to take holidays, leading to reduced demand and average transaction performance in the market. Merchants held a wait-and-see attitude toward the post-holiday market. In summary, the spot price of cold-rolled non-oriented silicon steel in the Wuhan market is expected to remain stable before the Chinese New Year.
Guangzhou Market: This week, the spot price of cold-rolled non-oriented silicon steel in the Guangzhou market was relatively stable. Traders reported a shortage of low-grade non-oriented resources in the market, supporting spot prices and highlighting cost-performance advantages. On the inventory side, traders' winter stockpiling demand significantly declined, steel mill inventories decreased YoY, and downstream sectors gradually went on holiday. The market is entering a phase of nominal pricing without transactions, and non-oriented silicon steel prices are likely to fluctuate rangebound, focusing on wrapping up pre-holiday operations. In summary, the spot price of cold-rolled non-oriented silicon steel in the Guangzhou market is expected to remain stable before the Chinese New Year.
