Qian Zhan Wang·2025-05-13 07:41Core Viewpoint - The Chinese silicon steel market is experiencing growth, with non-oriented silicon steel dominating production, accounting for 82% of the total output in the first half of 2024, while oriented silicon steel is also on the rise [1][3]. Group 1: Production and Market Trends - In the first half of 2024, China's silicon steel production reached 7.802 million tons, with non-oriented silicon steel production at 6.417 million tons and oriented silicon steel at 1.385 million tons [1]. - The total silicon steel production for 2024 is projected to exceed 15 million tons, maintaining a dominant share for non-oriented silicon steel [1]. - From 2019 to 2023, non-oriented silicon steel capacity increased from 10.96 million tons to 13.71 million tons, with a compound annual growth rate (CAGR) of 7.4% [3]. - Oriented silicon steel production grew from 1.78 million tons in 2019 to 2.96 million tons in 2023, with a forecast of 3.18 million tons for early 2024 [5]. Group 2: Company Developments - Major companies in the non-oriented silicon steel sector include Baosteel, Ansteel, and Taiyuan Iron & Steel, with Baosteel leading with a capacity of over 2 million tons, including 1 million tons of high-grade products [7]. - In the oriented silicon steel market, Baosteel also leads with a capacity of 1.16 million tons, while Wanfeng Electric is noted as the top private enterprise in this segment [7]. - Baosteel's production capabilities include a significant focus on high-grade and thin specifications, with ongoing expansions planned by companies like Shagang and New Steel [7][9].