Data from the National Bureau of Statistics show that: affected by seasonal factors such as the off-season production of some basic raw material industries, the prosperity level of China's manufacturing industry declined in December, but the manufacturing production remained stable, the production index was located in the expansion range for seven consecutive months, the new momentum industry continued to grow steadily, and the economic operation was basically stable. China's manufacturing purchasing managers' index was 49 per cent in December, down 0.4 percentage points from the previous month. The Caixin China Manufacturing Purchasing Managers' Index (PMI) recorded 50.8 in December 2023, up 0.1 percentage points from the previous month and in the expansion range for two consecutive months. The United Nations Department of Economic and Social Affairs released the UN World Economic Situation and Prospects 2024, in which global economic growth is expected to slow from 2.7% in 2023 to 2.4% in 2024. Global inflation is expected to decline further, from an estimated 5.7% in 2023 to 3.9% in 2024. However, price pressures remain high in many countries, and further escalation of geopolitical conflicts could lead to another rise in inflation.

China Iron and Steel Industry Association data show that in late December 2023, the social inventory of 5 major varieties of steel in 21 cities was 7.29 million tons, an increase of 100,000 tons from the previous month, up 1.4%, and the inventory rose slightly after a decline of 7 consecutive days; 260,000 tons less than in late November 2023, down 3.4%; That's 230,000 tons less than at the beginning of 2023, down 3.1 percent. It was learned from the China Iron and Steel Industry Association that the association expects China's steel exports to exceed 90 million tons in 2023. The Association's market research department said in a document that China's steel exports in 2023 were brilliant, historically only lower than the export scale of 2014-2016, with imports of about 7.6 million tons.

The price of non-oriented silicon steel rose this week, and the market rose by 50-100 yuan/ton. Traders' mentality is much better, resources are not sold at low prices. The amount of spot resources in the market is still not much, among which the price of private steel resources has risen more, and the quotation is slightly confused.

East China market price increase is obvious, the price of mainstream steel mills and private steel mills opened, the actual transaction price has risen. The terminal to see the price rise, buy up do not buy down mentality more or less began to stock. However, the quantity of stock is general, and there is no hot situation. Prices in the South China market rose, but the decline was smaller than that in the East China market. Traders feedback general transaction, terminal stock. The market price rises in central China, and the market spot resources are small.

The supply of resources decreased slightly from December, and individual production decreased slightly. And most of the private processing plant production cycle is concentrated in the end of January after the shutdown holiday, the start of the Spring Festival holiday.

Non-oriented high brand prices were weak and stable this week, and the market was little changed from last week. Traders normally shipped in the market, trading volume was slightly light. Large terminals continue to place orders with steel mills, and small terminals are reported to start the Spring Festival holiday in mid-to-late January. This week non-oriented silicon steel after the New Year's Day is off to a good start. The amount of spot resources in the market is small, coupled with the support of high costs and the pull of steel mill futures prices, the actual transaction price has increased. The industry's mentality has changed for the better, but the cautious optimism and rational mentality dominate, and the market is not sold at a low price. It is expected that the price of non-oriented silicon steel still has the possibility of pulling up.