Shanghai Market: The Shanghai cold-rolled non-oriented silicon steel market remained stable this week, with overall trading activity being moderate. In terms of prices, Baosteel's B50A800 non-oriented silicon steel was quoted at 5,200 yuan/mt, and Wuhan Steel's 50WW800 was quoted at 5,050 yuan/mt, both unchanged WoW. Market feedback indicated that the futures market showed a fluctuating trend this week, while spot prices remained steady. Inventory of non-oriented silicon steel in the Shanghai market remained low, with spot prices of state-owned enterprises receiving some support. Steel mills continued to deliver, leading to a slight increase in inventory. From a supply-demand perspective, the weak fundamentals of silicon steel showed no significant improvement in the short term, with a clear supply-demand imbalance. Most downstream motor companies purchased as needed, and traders focused on selling, with limited sentiment to stand firm on quotes. In summary, there is room for slight adjustments in some resources of cold-rolled non-oriented silicon steel in Shanghai next week.
Wuhan Market: The price of cold-rolled non-oriented silicon steel in Wuhan remained stable this week, with overall trading activity being moderate. Specifically, Wuhan Steel's 50WW800 was quoted at 5,050 yuan/mt, 50WW600 at 5,200 yuan/mt, and 50WW350 at 5,950 yuan/mt, all unchanged WoW. Market feedback indicated that the ferrous metals series futures market was volatile this week, while spot resource quotations remained steady, with overall inventory levels being low. Current market resource circulation showed structural differentiation, with high-grade resources dominating, while medium and low-grade spot resources were in short supply. In terms of trading, market demand recovered slowly, with moderate trading activity, and merchants maintained a cautious and wait-and-see attitude. In summary, the spot price of cold-rolled non-oriented silicon steel in Wuhan will remain stable next week.
Guangzhou Market: The price of cold-rolled non-oriented silicon steel in Guangzhou remained stable this week, with overall trading activity being moderate. In terms of prices, Baosteel's B50A800 was quoted at 5,250 yuan/mt, and Wuhan Steel's 50WW800 was quoted at 5,100 yuan/mt, both unchanged WoW. Market-wise, the ferrous metals series futures fluctuated rangebound this week, with Guangzhou market prices remaining stable and inventory staying low. Currently, medium and low-grade resources from state-owned steel mills were in limited circulation, mainly due to booming industry orders in the NEV and home appliance sectors, leading steel mills to focus on producing high-grade resources. Additionally, the cost of ordering medium and low-grade resources was high, prompting some traders to reduce orders for these resources. In terms of trading, downstream demand did not significantly pick up, with moderate trading activity. In summary, the spot price of cold-rolled non-oriented silicon steel in Guangzhou may remain stable next week.
