Current Quotations
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- The silicon steel price reached 4,310 RMB/ton on November 7th, showing an increase compared to Xuzhou Jinhong Steel's scrap procurement price (3,470-3,520 RMB/ton ex-tax on October 31st), reflecting market supply-demand fluctuations.
- Growing demand in new energy sectors keeps high-grade silicon steel prices stable, while traditional low-end products face overcapacity pressure.
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Capacity & Competitive Landscape
- China's new silicon steel capacity in 2025 totals 5.28 million tons (4.08 million tons non-oriented, 1.2 million tons oriented), with Baosteel, WISCO, and XISG ranking top three.
- Valin Steel plans to add 200,000 tons of non-oriented capacity in August 2025, reaching 500,000 tons by year-end.
II. Technological Breakthroughs & Policy Support
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Innovations
- XISG achieved breakthroughs in rolling 0.08mm ultra-thin wide non-oriented silicon steel, while Baosteel launched low-carbon emission products (BeyondECO-30%).
- Material innovations (e.g., amorphous alloys, GaN tech) significantly reduce motor iron loss, driving efficiency upgrades.
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Policy Direction
- Under the "dual-carbon" strategy, demand for high-permeability oriented silicon steel (HiB) grows, with local governments (like Loudi, Hunan) prioritizing silicon steel as a trillion-yuan industrial cluster.
UHV projects and new energy grid connections expanded the transformer silicon steel market to 18.76 billion RMB in 2024.
- Under the "dual-carbon" strategy, demand for high-permeability oriented silicon steel (HiB) grows, with local governments (like Loudi, Hunan) prioritizing silicon steel as a trillion-yuan industrial cluster.
III. New Energy Applications
- Pumped Storage: Qujiang station uses 107,000 sheets of 0.5mm silicon steel (396 tons total), while Nanning station adopts 140,000 sheets of 0.35mm.
- Flywheel Energy Storage: Silicon steel sheets enhance motor efficiency as rotor core materials.
- NEVs: Inovance's direct-cooling tech motors improve silicon steel power density by 30%.
IV. Industry Challenges & Outlook
- Overcapacity Risk: Low-end market competition intensifies, pushing firms toward high-end customization.
- Green Manufacturing: R&D focuses on low-carbon tech like hydrogen reduction replacing coke.
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