For the Quarter Ending March 2026
Electrical Steel Prices in North America
- In the USA, the Electrical Steel Price Index fell by 10.36% quarter-over-quarter, reflecting weaker demand.
- The average Electrical Steel price for the quarter was approximately USD 4576.00/MT, based on assessments.
- Electrical Steel Spot Price showed intermittent tightness as Price Index recovered amid constrained lower-priced availability.
- Electrical Steel Production Cost Trend notably rose on higher silicon metal, logistics, and insurance expenses.
- Electrical Steel Demand Outlook remained mixed with automotive restocking offsetting weak construction and restrained procurement.
- Electrical Steel Price Forecast anticipates short-term volatility driven by feedstock inflation and geopolitical shipping disruptions.
- Electrical Steel Price Index reflected ample inventories and steady milling, while export demand provided support.
- Major domestic mills maintained routine operations, limiting supply shocks and keeping participants cautious on buying.
Why did the price of Electrical Steel change in March 2026 in North America?
- Escalating Middle East tensions raised freight, insurance costs, increasing landed costs and supporting seller pricing.
- Domestic demand recovery was uneven; automotive restocking supported volumes while construction remained weak, limiting momentum.
- Adequate inventories and steady mill operations capped spot procurement, prompting price correction during March.
Electrical Steel Prices in APAC
- In Japan, the Electrical Steel Price Index fell by 10.35% quarter-over-quarter, due to high inventories.
- The average Electrical Steel price for the quarter was approximately USD 779.67/MT Ex Osaka FOB.
- Electrical Steel Spot Price tightened; Price Index improved, reflecting limited spot availability and export enquiries.
- Electrical Steel Price Forecast shows upside risk, tempered by seasonal weakness and abundant near-term supply.
- Electrical Steel Production Cost Trend rose with higher energy and freight costs, providing price support.
- Electrical Steel Demand Outlook remains subdued, with construction weakness and cautious converters limiting incremental procurement.
- Electrical Steel Price Index volatility reflected inventory adjustments, export restocking and mill selling amid uncertainty.
- Mills operated largely at normal rates; selective outages and logistics complexity intermittently tightened market availability.
Why did the price of Electrical Steel change in March 2026 in APAC?
- Elevated inventories and subdued domestic demand constrained buying, pressuring spot quotations throughout March amid caution.
- Higher energy, freight and insurance costs increased production expenses, providing cost support to pressured prices.
- Geopolitical tensions elevated freight and insurance premiums, tightening export flows and increasing transactional logistics risk.
Electrical Steel Prices in Europe
- In Germany, the Electrical Steel Price Index fell by 1.76% quarter-over-quarter, reflecting weak demand pressure.
- The average Electrical Steel price for the quarter was approximately USD 1660.00/MT, reflecting moderate activity.
- Electrical Steel Spot Price remained firm amid tight offers and constrained resale availability Europe-wide today.
- Electrical Steel Production Cost Trend rose as silicon and energy costs increased mill operating expenses.
- Electrical Steel Demand Outlook is mixed; stronger EV orders offset weak construction and cautious procurement.
- Electrical Steel Price Forecast expects firmness supported by geopolitical risk premium and elevated logistics costs.
- Electrical Steel Price Index gained in March; low inventories and firmer mill offers tightened availability.
- Service center inventories tightened slightly while export flows remained constrained by port congestion and sanctions.
Why did the price of Electrical Steel change in March 2026 in Europe?
- Supply frictions from port congestion and restrictions delayed shipments, tightening near-term availability and supporting offers.
- Rising silicon and energy costs lifted production expenses, increasing mills' cost bases and limiting discounting.
- Demand remained selective: EV sector firm, construction weak, buyers kept hand-to-mouth procurement, limiting price rallies.
For the Quarter Ending December 2025
Electrical Steel Prices in North America
- In USA, the Electrical Steel Price Index fell by 6.2% quarter-over-quarter, due to high inventories.
- The average Electrical Steel price for the quarter was approximately USD 5104.67/MT, reflecting weak demand.
- Electrical Steel Spot Price remained weak as Price Index signalled ongoing destocking and dampened procurement currently.
- Electrical Steel Production Cost Trend stayed contained with stable feedstock, limiting producers pushing prices higher.
- Electrical Steel Demand Outlook remains weak as automotive and construction orders failed to stimulate restocking.
- Electrical Steel Price Forecast indicates modest monthly fluctuations as year-end destocking offsets occasional seasonal buying.
- Elevated inventories and limited export demand pressured spot offers, with Electrical Steel Price Index soft.
- Steady domestic mill output with no outages sustained supply, reinforcing pressure on Electrical Steel prices.
Why did the price of Electrical Steel change in December 2025 in North America?
- High warehouse stocks and ongoing destocking reduced purchasing urgency, weighing on month-end prices and liquidity.
- Subdued domestic construction and limited export enquiries suppressed demand, constraining mills' pricing power during December.
- Stable feedstock availability kept production costs contained, removing cost-driven support and allowing further price weakness.
Electrical Steel Prices in APAC
- In Japan, the Electrical Steel Price Index fell by 20.96% quarter-over-quarter, driven by abundant supply.
- The average Electrical Steel price for the quarter was approximately USD 869.67/MT per FOB Osaka.
- Electrical Steel Price Index remained pressured by high port inventories and subdued automotive, construction orders.
- Electrical Steel Spot Price collapsed in the quarter amid destocking and aggressive Asian export competition.
- Electrical Steel Price Forecast indicates intermittent rebounds offset by persistent oversupply and cautious buyer procurement.
- Electrical Steel Production Cost Trend eased on lower iron ore and coking coal input costs.
- Electrical Steel Demand Outlook remains weak as transformer and motor orders decline during model-changeover slowdowns.
- Elevated inventories and steady Asian export offers constrained recovery; niche premium-grade enquiries provided marginal support.
Why did the price of Electrical Steel change in December 2025 in APAC?
- Persistent oversupply from domestic and Asian exporters depressed spot offers, outpacing muted downstream procurement levels.
- Lower iron ore and coking coal costs eased production cost pressure, enabling competitive FOB offers.
- High port inventories and smooth inbound feedstock shipments removed supply disruption premiums, reinforcing seller discounting.
Electrical Steel Prices in Europe
- In Germany, the Electrical Steel Price Index fell by 4.5% quarter-over-quarter, reflecting weak demand conditions.
- The average Electrical Steel price for the quarter was approximately USD 1689.67/MT based on totals.
- Electrical Steel Spot Price remained subdued as high inventories constrained downstream enquiries and spot activity.
- Electrical Steel Price Forecast points modest declines as year-end destocking and flat exports persist regionally.
- Electrical Steel Production Cost Trend eased due to lower silicon metal prices reducing input expenses.
- Electrical Steel Demand Outlook remains weak as construction contraction and cautious buyer purchasing restrain orders.
- Electrical Steel Price Index indicates downside as logistics improved but overseas demand proved insufficient overall.
- Domestic mill operating rates stayed steady; sellers offered discounted spot volumes to accelerate inventory reductions.
Why did the price of Electrical Steel change in December 2025 in Europe?
- Year-end destocking and holiday market pause sharply reduced enquiries, weakening spot liquidity and pricing momentum.
- High inventories and steady domestic outputs created supply overhang, constraining sellers' pricing power during December.
- Soft construction activity and muted exports reduced consumption, while lower silicon metal eased production costs.
For the Quarter Ending September 2025
North America
- In the USA, the Electrical Steel Price Index fell by 5.38% quarter-over-quarter, reflecting weak demand.
- The average Electrical Steel price for the quarter was approximately USD 5073.00/MT, and neutrality prevailed.
- Electrical Steel Spot Price movement remained muted amid ample domestic supply, cautious buyer restocking behavior.
- Electrical Steel Price Forecast indicates modest volatility with small monthly upticks amid otherwise sideways environment.
- Electrical Steel Production Cost Trend remained flat as scrap and energy costs exerted limited pressure.
- Electrical Steel Demand Outlook is cautious given moderate infrastructure orders and restrained automotive procurement near-term.
- Electrical Steel Price Index weakness reflected elevated inventories, shorter mill lead times, seller pricing flexibility.
- Tariff protections and higher freight intermittently supported bids, yet buyer hesitancy limited sustained price recovery.
Why did the price of Electrical Steel change in September 2025 in North America?
- Weak booking rates and high inventories pressured prices as mills relaxed pricing discipline and chased volumes.
- Flat scrap and energy costs provided limited cost-push support, restraining producer-driven price increases during September.
- Logistical delays and tariff dynamics constrained imports while balanced domestic output maintained ample spot availability.
APAC
- In Japan, the Electrical Steel Price Index fell by 7.7% quarter-over-quarter, pressured by weak exports.
- The average Electrical Steel price for the quarter was approximately USD 1100.33/MT, across export channels.
- Electrical Steel Spot Price weakened as mills lowered offers, reflecting a softer Price Index recently.
- Electrical Steel Price Forecast indicates recovery into autumn, constrained by export competition and elevated inventories.
- Electrical Steel Production Cost Trend remained stable despite higher freight, limiting upward Price Index pressure.
- Electrical Steel Demand Outlook weakened; automotive exports hit by tariffs and Chinese competition reducing visibility.
- Rising distributor inventory and subdued export demand kept the Electrical Steel Price Index range-bound quarter.
- Major Japanese producers maintained operations, yet weaker export demand forced competitive FOB offers protect share.
Why did the price of Electrical Steel change in September 2025 in APAC?
- Export uncertainty and US tariffs reduced Japanese auto export prices, pressuring Electrical Steel export demand.
- Aggressive Chinese export competition undercut FOB offers, increasing inventory accumulation and suppressing domestic pricing power.
- Stable feedstock costs but higher freight and yen weakness squeezed margins, reducing mills' pricing flexibility.
Europe
- In Germany, the Electrical Steel Price Index fell by 4.14% quarter-over-quarter, reflecting subdued industrial demand.
- The average Electrical Steel price for the quarter was approximately USD 1691.67/MT across Ruhr deliveries.
- Electrical Steel Spot Price remained range-bound as mills met contracts and buyers maintained minimal restocking.
- Electrical Steel Price Forecast suggests modest autumn improvement if industrial orders strengthen and seasonality eases.
- Electrical Steel Production Cost Trend remained muted as energy costs eased, containing input-driven price pressure.
- Electrical Steel Demand Outlook remains subdued as automotive buyers delay orders amid elevated financing costs.
- High inventories and weak export demand pressured offers, keeping the Electrical Steel Price Index soft.
- Local mill discipline limited deep cuts, while Eastern European imports supplied competitively, sustaining market availability.
Why did the price of Electrical Steel change in September 2025 in Europe?
- Weak downstream order books and seasonal lull reduced procurement, lowering Electrical Steel prices across Europe.
- Sustained import availability and muted export demand offset domestic production cuts, pressuring market pricing leverage.
- Stable energy costs and high financing rates constrained procurement, limiting momentum in Electrical Steel pricing.
For the Quarter Ending June 2025
North America
- The Electrical Steel Price Index in the USA decreased by 7.8% quarter-over-quarter in Q2 2025. The decline was driven by slower restocking from transformer OEMs and excess inventory carried over from Q1.
- The Electrical Steel Production Cost Trend remained steady, with no major shifts in silicon alloy input prices or energy costs.
- The Electrical Steel Demand Outlook weakened slightly as utility infrastructure upgrades slowed amid delayed project approvals.
- Import pressure from lower-priced Asian offerings intensified, prompting domestic mills to recalibrate contract pricing.
Why did the price of Electrical Steel change in July 2025 in North America?
- The Electrical Steel Spot Price in July 2025 is estimated to have stayed mostly flat, as distributors took a wait-and-see approach.
- Subdued demand from energy transmission sectors continued, with only minimal restocking noted from smaller OEMs.
- The Electrical Steel Price Forecast remains range-bound unless government procurement steps up in late Q3.
- The Electrical Steel Demand Outlook stays conservative amid tighter capex cycles in utilities and slower tender flow.
APAC
- The Electrical Steel Price Index in Indonesia declined by 9.2% quarter-over-quarter in Q2 2025. This was largely due to weakening export demand, aggressive Chinese competition, and a drop in regional transformer production.
- The Electrical Steel Production Cost Trend fell slightly as local rolling costs dropped and import-based input procurement became cheaper.
- The Electrical Steel Demand Outlook was weighed down by soft infrastructure funding and high finished goods inventories.
- Export orders were limited due to pricing pressure from Japanese and Chinese suppliers in ASEAN markets.
Why did the price of Electrical Steel change in July 2025 in Indonesia?
- The Electrical Steel Spot Price in July 2025 likely saw a marginal dip due to persistent oversupply and weak forward bookings.
- Local mills attempted to secure spot deals at discounted rates, but end-users showed limited urgency to replenish.
- The Electrical Steel Price Forecast indicates further downside unless regional infrastructure orders rebound in Q3.
- The Electrical Steel Demand Outlook remains under pressure, with limited visibility from construction-linked sectors.
Europe
- The Electrical Steel Price Index in Germany decreased by 5.5% quarter-over-quarter in Q2 2025. Price cuts were seen as mills responded to weaker automotive electrical component demand and competition from Korean imports.
- The Electrical Steel Production Cost Trend remained unchanged, with stable alloy and rolling cost conditions across EU mills.
- The Electrical Steel Demand Outlook dimmed as renewable grid investments slowed and EV component makers trimmed procurement volumes.
- Import substitution gained pace as European buyers explored cheaper Asian alternatives for short-cycle applications.
Why did the price of Electrical Steel change in July 2025 in Germany?
- The Electrical Steel Spot Price in July 2025 is projected to have slipped slightly, with mills offering limited discounts to retain long-term buyers.
- OEM demand showed no material uplift in July, and inventory turnover remained slow.
- The Electrical Steel Price Forecast shows low volatility into Q3 unless public sector tenders accelerate.
- The Electrical Steel Demand Outlook stays muted amid inflation-led project deferrals and limited new power infra contracts.
