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Electrical Steel Price Trend and Forecast

UNSPC code: 22101507
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⟳ Weekly Update
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Historical Data Since 2015
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Forecast for 2026
  • Commodity Pricing

electrical steel Price Trends by Country

cnChina
gbUnited Kingdom
inIndia
krSouth Korea
thThailand
usUnited States

Global electrical steel Spot Market Prices, Trend Analysis and Forecast

Price Watchâ„¢ provides real-time price assessments and price forecasts for Electrical steel across top trading regions:

Electrical Steel Regional Coverage  Electrical Steel Grade and Country Coverage  Electrical Steel Pricing Data Coverage Explanation 
Asia-Pacific Electrical Steel Pricing Analysis Electrical Steel Non-Grain (50WW800) 0.5mm FOB Prices at Shanghai Port, China Weekly Price Update on Electrical Steel Non-Grain (50WW800) 0.5mm Real-Time Export Prices from Shanghai Port, China to Global Markets
Electrical Steel Non-Grain (50WW800) 0.5mm Ex Prices at Mumbai, India Weekly Price Update on Electrical Steel Non-Grain (50WW800) 0.5mm Real-Time Ex-Mumbai Prices in India
Electrical Steel Non-Grain (50WW800) 0.5mm CIF Prices at Nhava Sheva Port, West India Importing from China Weekly Price Update on Electrical Steel Non-Grain (50WW800) 0.5mm Real-Time Import Prices at Nhava Sheva Port, West India, from China
Electrical Steel Non-Grain (50WW800) 0.5mm CIF Prices at Laem Chabang Port, Thailand Importing from China Weekly Price Update on Electrical Steel Non-Grain (50WW800) 0.5mm Real-Time Import Prices at Laem Chabang Port, Thailand, from China
Electrical Steel Non-Grain (50PN800) 0.5mm Ex Prices at Busan, South Korea Weekly Price Update on Electrical Steel Non-Grain (50PN800) 0.5mm Real-Time Ex-Busan Prices in South Korea
North America Electrical Steel Pricing Analysis Electrical Steel Non-Grain (M15-C5) 0.5mm Del Prices at Baltimore, USA Weekly Price Update on Electrical Steel Non-Grain (M15-C5) 0.5mm Real-Time Delivered Prices at Baltimore, USA
Europe Electrical Steel Pricing Analysis Electrical Steel Non-Grain (50WW800) 0.5mm FD Prices at Rotterdam, United Kingdom Weekly Price Update on Electrical Steel Non-Grain (50WW800) 0.5mm Real-Time FD Prices at Rotterdam, United Kingdom

Electrical steel Price Forecasts & Market Foresight Q3 2026

Outlook: Stable

Confidence: High

Electrical steel prices are expected to remain stable globally during Q3 2026, supported by balanced supply-demand dynamics, steady raw material costs, and consistent procurement. Europe is likely to maintain stable market conditions with balanced inventories, while Asia is expected to witness steady demand from the automotive and power sectors despite seasonal fluctuations.

North America is anticipated to sustain stable pricing, with balanced supply and healthy industrial demand limiting significant price movements.

Global Electrical steel Market Overview by Region (July–September 2026)

Country Grade/ Incoterm Outlook
China  Non-grain (50WW800) 0.5mm FOB Shanghai Stable
United Kingdom  Non-grain (50WW800) 0.5mm FD-Sheffield Stable
India  Non-grain (50WW800) 0.5mm Ex-Mumbai Stable
South Korea Non-grain (50PN800) 0.5mm EX-Busan Stable
Thailand Non-grain (50WW800) 0.5mm CIF Laem Chabang (CHINA) Stable
USA Non-grain (M15-C5) 0.5mm Del Alabama Stable

* Electrical steel Forecast represents an analytical assessment based on information available at the time of publication. Actual market prices may vary due to unforeseen operational, regulatory, geopolitical, or economic developments.

Explore the Complete Price Watch™ Electrical steel Forecast

Access comprehensive Electrical steel market intelligence, including a 3-Month Rolling Forecast, 12-Month Price Forecast, forward price curves, country-wise market outlooks, procurement insights, and monthly forecast updates.

Explore Price Watch™ Electrical steel Forecasts

What’s Included

The 3-Month Forecast (Updated Monthly)

It reflects changes in iron ore and steel feedstock costs, energy prices, mill operating rates, maintenance shutdowns, inventory levels, trade flows, freight rates, demand from the automotive, power, and electrical equipment sectors, and geopolitical developments affecting the global electrical steel market.

The 12-Month Forecast (Published Annually)

It provides a strategic outlook based on expected capacity additions, supply-demand balances, feedstock economics, macroeconomic conditions, industrial production trends, trade policies, seasonal demand patterns, and long-term supply chain developments, supporting procurement, budgeting, and strategic planning.

Our Proprietary Hybrid Forecasting Model Evaluates:

  • Feedstock & production economics
  • Plant operating rates & outages
  • Inventory and supply-demand balance
  • Regional trade flows & freight
  • Import-export dynamics
  • Macroeconomic & geopolitical developments

 

Track Electrical Steel Supply Disruptions in Real Time

As geopolitical risks continue to reshape global supply chains, stay ahead of the events that drive price movements by monitoring plant shutdowns, maintenance turnarounds, force majeure events, logistics bottlenecks, trade restrictions, and operational disruptions before they impact Electrical steel markets.

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Electrical Steel Price Trend Q2 2026

In Q2 2026, the global Electrical Steel market has remained on a firm upward trend, supported by strong demand from transformer manufacturing, power grid expansion, electric vehicles, and energy infrastructure projects. Trade protection measures in major markets, including the USA, UK, and India, have tightened supply expectations and strengthened pricing, while leading producers such as Baosteel and POSCO have raised selling prices to offset higher production costs.

Most regional markets have recorded quarterly gains despite improving supply conditions toward the end of the period. The Electrical Steel Price Chart has reflected this steady upward movement across Q2 2026, with the USA recording the strongest quarterly increase among the assessed markets.

However, buying activity has softened in June after earlier restocking, leading to monthly price corrections in China, India, the UK, Thailand, and South Korea, while the USA has remained the only market posting a modest monthly increase. The Electrical Steel Price Index has started reflecting this market adjustment as improved material availability and more balanced procurement have eased pricing pressure during the final month of the quarter.

China: Electrical Steel Export prices FOB Shanghai, China; Grade- Non-grain (50WW800) 0.5mm

In Q2 2026, Electrical Steel Price Trend in China has increased by 2.19% compared with Q1 2026, supported by higher contract prices from leading mills and steady demand from transformer, power grid, and electric vehicle manufacturers. Baosteel has raised June prices for both grain oriented and non oriented electrical steel, reflecting firm production costs and stable order books.

At the same time, domestic demand from energy infrastructure projects continues to support market sentiment despite moderate oversupply. Electrical Steel Price in China remains firm through most of the quarter. However, in June 2026, Electrical Steel Prices in China have declined by 2.29% from May as buying activity slows after earlier restocking and supply availability improves.

India: Electrical Steel Domestic traded prices Ex-Mumbai, India; Grade- Non-grain (50WW800) 0.5mm

In Q2 2026, Electrical Steel Price Trend in India has increased by 3.09% compared with Q1 2026, supported by firm domestic demand from transformer, power transmission, and electric vehicle manufacturing. Strong infrastructure spending and steady steel consumption keep procurement activity healthy across the quarter.

The Indian government also launches an anti dumping investigation into imports of cold rolled grain oriented electrical steel from China, Japan, South Korea, and Russia, strengthening expectations of tighter domestic supply and firmer pricing. Electrical Steel Price in India remains elevated through most of the quarter.

However, in June 2026, Electrical Steel Prices in India have declined by 0.52% from May as buyers reduce fresh bookings after earlier purchases and overall steel prices soften slightly.

USA: Electrical Steel Domestic traded prices Del Alabama, USA; Grade- Non-grain (M15-C5) 0.5mm

In Q2 2026, Electrical Steel Price Trend in the USA has increased by 5.06% compared with Q1 2026, supported by tighter domestic supply and stronger policy support for the local steel industry. Demand from transformer manufacturers, power grid expansion, and data center projects remains healthy throughout the quarter.

Market sentiment also strengthens as the US government continues expanding Section 232 tariff protection for electrical steel derivative products, encouraging domestic sourcing and reducing import pressure. Electrical Steel Price in the USA stays firm during the quarter. In June 2026, Electrical Steel Prices in the USA have increased by 0.52% compared with May, supported by steady procurement activity and resilient demand from critical energy infrastructure projects.

UK: Electrical Steel Domestic traded prices FD-Sheffield, UK; Grade- Non-grain (50WW800) 0.5mm

In Q2 2026, Electrical Steel Price Trend in the UK has increased by 4.25% compared with Q1 2026, supported by tighter import availability and stronger trade protection measures. The UK government confirms a new steel trade regime from July that cuts tariff free import quotas by more than half and applies a 50% tariff on out of quota shipments.

This strengthens market confidence and supports domestic steel prices during the quarter. Electrical Steel Price in the UK remains firm through April and May as buyers secure material ahead of the policy change. However, in June 2026, Electrical Steel Prices in the UK have declined by 1.30% from May as procurement slows after earlier stock building and demand softens before the new trade rules take effect.

Thailand: Electrical Steel Import prices CIF Laem Chabang, Thailand; Grade- Non-grain (50WW800) 0.5mm

In Q2 2026, Electrical Steel Price Trend in Thailand has increased by 4.13% compared with Q1 2026, supported by steady demand from transformer manufacturing, electrical equipment production, and power infrastructure projects. Higher import costs and firm regional steel prices also keep market sentiment positive during most of the quarter.

Thailand’s industrial sector continues to benefit from investment in electric vehicle and data center projects, supporting steel consumption despite pressure on some manufacturing segments. Electrical Steel Price in Thailand remains firm through April and May. However, in June 2026, Electrical Steel Prices in Thailand have declined by 2.07% compared with May as buyers slow fresh purchases, inventories improve, and regional steel prices soften after earlier gains.

South Korea: Electrical Steel Domestic traded prices EX-Busan, South Korea; Grade- Non-grain (50WW800) 0.5mm

In Q2 2026, Electrical Steel Price Trend in South Korea has increased by 3.76% compared with Q1 2026, supported by firm demand from electric vehicle, transformer, and power equipment manufacturers. POSCO has also raised steel prices during the quarter as higher raw material and logistics costs increase production expenses.

At the same time, POSCO launches a national project with Hyundai Motor and research partners to develop next generation high efficiency electrical steel for EVs, reinforcing confidence in long term demand. Electrical Steel Price in South Korea remains firm through April and May. However, in June 2026, Electrical Steel Prices in South Korea have declined by 1.38% compared with May as buying activity slows after earlier restocking and supply conditions become more balanced.

Electrical Steel Price Trend Analysis: Q1 2026

Electrical Steel Price Trend Q1 2026

In the first quarter of 2026, the global electrical steel market had witnessed a mixed sentiment in different parts of the world, resulting from different dynamic relationships between demand and supply; the cost of producing electrical steel; and the impact of geopolitical events.

On the one hand, the major export markets (China and Thailand) have witnessed a reduction in prices due to oversupply from inventory build-up as a result of lower than expected downstream demand. Purchase orders are beginning to return to normal levels, but a limited amount of price recovery has already occurred.

Conversely, the US, UK and India have seen upward price activity as a result of strong industrial and infrastructure demand along with tight domestic supplies of electrical steel and rising costs of energy and raw materials.

In South Korea, the competitive import pressure is beginning to ease, thereby creating a more balanced situation whereby the selective filling of restocking orders of electrical steel is beginning to offset weakness in overall manufacturing activity.

Overall, the demand for electrical steel has had a cautious but regionally uneven recovery as a result of local industrial activity and continued uncertainty in terms of global energy supply and geopolitical issues.

China: Electrical Steel Export prices FOB Shanghai, China; Grade- Non-grain (50WW800) 0.5mm

According to Price-Watchâ„¢ , in Q1 2026, Electrical Steel prices in China declined by approximately 3.32% compared with Q4 2025, reflecting continued weakness across the domestic steel market. The Electrical Steel price trend in China remained under pressure due to persistent oversupply, elevated inventory levels, and subdued downstream demand from transformer and motor manufacturers.

Slower activity in the property and broader manufacturing sectors further weakened procurement momentum, while stable raw material costs offered limited support to market sentiment. Excess production capacity and cautious buying behaviour continued to weigh on pricing throughout the quarter.

However, in March 2026, Electrical Steel price trend in China increased slightly by around 0.58% month-on-month, supported by modest improvement in manufacturing activity and early signs of demand recovery from the power and grid infrastructure sector, although overall market conditions remained soft amid lingering stockpiles and weak export momentum.

India: Electrical Steel Domestic traded prices Ex-Mumbai, India; Grade- Non-grain (50WW800) 0.5mm

In Q1 2026, Electrical Steel prices in India increased by approximately 2.04% compared with the previous quarter, reversing the decline observed in Q4 2025. The Electrical Steel price trend in India remained moderately firm, supported by improving domestic demand from infrastructure, transformer, and electrical equipment sectors.

Higher raw material and energy costs created additional cost-push pressure, while improved steel product realizations and gradual inventory restocking further strengthened market sentiment. Geopolitical tensions in West Asia also indirectly contributed to pricing pressure through higher freight, insurance, and energy expenses.

Although imported material remained competitively priced, a tighter supply-demand balance and renewed execution of infrastructure projects supported the recovery in domestic pricing. In March 2026, Electrical Steel prices in India rose by around 2.11% month-on-month, reflecting stronger procurement activity and improving industrial demand conditions.

USA: Electrical Steel Domestic traded prices Del Alabama, USA; Grade- Non-grain (M15-C5) 0.5mm

In Q1 2026, Electrical steel prices in the USA increased by approximately 7.42% compared with the previous quarter, supported by strong domestic demand from EV motor manufacturing, transformer production, and grid modernization projects. The Electrical Steel price trend in the USA remained firmly upward throughout the quarter, reinforced by ongoing infrastructure investments and steady industrial procurement activity.

Rising raw material and energy costs added further pricing pressure, while disciplined mill operating rates and tighter supply conditions limited market availability. Geopolitical tensions and broader global disruptions also contributed indirectly by increasing logistics and energy expenses, further tightening supply chain dynamics.

In March 2026, Electrical Steel prices in the USA rose by around 3.11% month-on-month, driven by continued cost inflation, firm downstream demand, and constrained supply conditions across the market.

UK: Electrical Steel Domestic traded prices FD-Sheffield, UK; Grade- Non-grain (50WW800) 0.5mm

In Q1 2026, Electrical Steel prices in the UK increased by approximately 5.06% compared with Q4 2025, supported by early-year restocking activity, tighter domestic supply, and rising energy and input costs.

The Electrical Steel price trend in the UK remained cautiously bullish throughout the quarter, as infrastructure-related procurement and strategic demand from industrial machinery and power sector projects strengthened market sentiment.

Import dynamics from European suppliers also contributed to firmer domestic quotations, while elevated logistics and operating costs continued to pressure supply chains. Ongoing geopolitical tensions in the Middle East further amplified global energy prices and freight expenses, creating an additional risk premium in the market.

In March 2026, Electrical Steel prices in the UK rose by around 2.12% month-on-month, driven by improving project-related demand and continued cost-side pressure across the supply chain.

Thailand: Electrical Steel Import prices CIF Laem Chabang, Thailand; Grade- Non-grain (50WW800) 0.5mm

In Q1 2026, the prices of Electrical Steel have gone down in Thailand since last quarter (Q4 2025) because of continued supply pressures due to imports from other countries, such as Japan and China, with no real improvement in the economy’s performance.

There has also been a large decrease in manufacturing production (specifically). Despite this, there has been a small amount of increased interest in purchasing during Q1, which should allow for a slight increase in prices.

Additionally, at the end of March 2026, Electrical Steel prices in Thailand are up about 1.64% from February, due to some companies beginning to restock because they believed that demand would improve going forward.

Additionally, companies have been facing increased energy and logistics expenses, and there is ongoing supply chain uncertainty and breakdowns caused by geopolitical tensions.

South Korea: Electrical Steel Domestic traded prices EX-Busan, South Korea; Grade- Non-grain (50WW800) 0.5mm

Despite a drop of about 1.75% in Electrical Steel prices in Q1 2026 compared to Q4 2025 driven by weak downstream demand and competitive pressure from imports, the trend within the electrical steel market in South Korea has been mostly soft for the major part of Q1 2026 due to continued caution on the part of businesses within the automotive sector and transformer sector driven by general industrial uncertainty.

The existence of competitively priced imported product further limited the upward price movement in domestic electrical steel and created a dampened market sentiment. However, as the quarter progressed there has been evidence of gradual improvement in manufacturing production towards the end of the quarter and the completion of select restocks has created towards the end of Q1 supportive of improved interest in buying.

Among other issues surrounding production costs, geopolitical ramifications from on-going unrest in the Middle East and concern about the volatility of energy costs have added to the increase in both production and logistical costs for the electrical steel supply chain.

At the end of March 2026, Electrical Steel prices in South Korea have increased approximately 1.40% compared month over month due to improved manufacturing activity and cautious restocking of inventory.

Electrical Steel Price Trend Analysis 2025

Electrical Steel Price Trend Q1 2025

In the first quarter of 2025, the electrical steel market experienced a price increase of $789 per metric ton, FOB Shanghai representing a 2.08% rise from the previous quarter. This uptick reflects a combination of strong demand from the energy and automotive sectors particularly due to growth in electric vehicle production and grid infrastructure upgrades and constrained supply conditions influenced by raw material cost inflation and logistical challenges.

The modest percentage gain, despite the significant absolute price increase, suggests a high baseline price level entering the year, pointing to sustained market pressure and limited flexibility in sourcing alternatives. As demand for energy efficient technologies continues to grow, the pricing trend may persist into the next quarters unless there is a significant shift in production capacity or input costs.

​In Q1 2025, India’s electrical steel market experienced a notable price increase of $1,087 per metric ton, Ex Mumbai reflecting a 2.12% rise. Factors contributing to this price adjustment include a projected 8-9% growth in steel demand for 2025, driven by increased construction activities and stronger demand from engineering, packaging, and other industries. Additionally, the Indian electrical steel sector is undergoing significant developments.

In October 2024, JFE Steel Corporation and JSW Steel announced the acquisition of ThyssenKrupp Electrical Steel India, aiming to enhance domestic production capabilities of grain oriented electrical steel sheets. This move is expected to bolster India’s capacity to meet the growing demand for electrical steel, particularly in power generation and transmission sectors.

Electrical Steel Price Trend Q2 2025

According to the Price Watch, In Q2 2025, the electrical steel market experienced a notable price decline, with prices falling by $779.78 per metric ton, FOB Shanghai a 1.25% decrease. This drop suggests a modest market correction likely driven by a combination of softened global demand, improved supply chain stability, or easing input costs such as energy or raw materials.

While the percentage change appears relatively small, the absolute value drops signals that electrical steel prices were previously at a high level, and the recent shift may indicate market normalization.

Key influencing factors could include reduced procurement from major industrial sectors like automotive and power infrastructure or increased production capacity from key manufacturers, especially in Asia. This trend might prompt buyers to cautiously re enter the market, anticipating potential further reductions or stabilization in the near term.

According to the PriceWatch, In Q2 2025, the price of electrical steel in India increased by $1,098.13 per metric ton, Ex Mumbai reflecting a 1.98% rise compared to the previous quarter. This growth is driven by robust demand from key sectors such as electric vehicles, power infrastructure, and transformer manufacturing, alongside limited supply due to raw material constraints and elevated energy costs.

The price hike also reflects global trends, where tight inventories and supply chain disruptions have pushed input costs higher. With continued industrial expansion and infrastructure investments, the upward pricing momentum signals a firm market outlook, potentially sustaining higher prices in the near term.

Electrical Steel Price Trend Q3 2025

In Q3 2025, the global Electrical Steel market displayed a mixed trend, though the overall prices declined by around 1.07% during the quarter. While a few regions experienced brief periods of stability driven by industrial restocking, most major producers including China, India, the USA, and the United Kingdom reported a downward trajectory.

The market softness was primarily linked to muted demand from transformer and motor manufacturing sectors, along with reduced activity in construction-related electrical equipment.

In contrast, Thailand and South Korea showed relatively stable price movements supported by domestic consumption. However, subdued export orders and high inventory levels in key markets kept overall sentiment weak, resulting in a marginal global price decline through the quarter.

USA: Electrical Steel Domestically traded prices Del Alabama, USA, Grade- Non-grain (M15-C5) 0.5mm.

According to PriceWatch, in Q3 2025, the electrical steel price trend in the USA inclined by 0.87% compared to the previous quarter, supported by steady demand from the electrical equipment, transformer, and EV motor manufacturing sectors. Increased investments in grid modernization and renewable energy projects contributed to a mild uptick in consumption.

Additionally, stable raw material costs and limited domestic supply provided moderate upward support to prices. Producers operated at balanced capacity utilization levels, maintaining a cautiously optimistic market sentiment throughout the quarter.

Electrical steel prices in the USA declined by 0.96% in September 2025, mainly due to reduced demand from the transformer and motor manufacturing sectors amid slower industrial and construction activity.

Stable domestic production and comfortable inventory levels further contributed to the mild price correction. Overall, the electrical steel market in the USA during Q3 2025 reflected a softening trend, with expectations of modest recovery in Q4 supported by improving orders from the energy and automotive industries.

United Kingdom: Electrical Steel Domestically traded prices FD-Sheffield, UK, Grade- Non-grain (50WW800) 0.5mm.

According to PriceWatch, in Q3 2025, the electrical steel price trend in the United Kingdom declined as the prices dropped by 1.52% compared to the previous quarter, primarily due to subdued demand from the power infrastructure and industrial manufacturing sectors.

Ongoing economic sluggishness and elevated energy costs dampened downstream consumption, while import competition from Asian and European suppliers added further pressure on domestic pricing.

Despite producers’ efforts to manage inventories and production levels, overall market sentiment remained weak, leading to a modest bearish trend across the quarter. Electrical steel prices in the United Kingdom declined by 0.68% in September 2025, primarily due to subdued demand from the power and electrical machinery sectors amid sluggish manufacturing activity.

Adequate domestic inventories and steady imports from European suppliers further limited price support, keeping the market sentiment weak. Overall, the electrical steel market in the UK during Q3 2025 showed a declining trend, with expectations of gradual stabilization in Q4 as industrial activity and energy sector investments begin to recover.

China: Electrical Steel Export prices FOB Shanghai, China, Grade Non-grain (50WW800) 0.5mm.

According to Price-Watchâ„¢ , in Q3 2025, the electrical steel price trend in China declined as the prices decreased by 1.36% compared to the previous quarter, mainly due to subdued demand from the transformer and motor manufacturing sectors. A slowdown in infrastructure and industrial equipment investments, coupled with stable raw material costs, contributed to weaker market sentiment.

Despite steady exports to Southeast Asia, domestic oversupply and cautious restocking activity among end-users exerted downward pressure on prices. Producers maintained moderate output levels to prevent further declines, keeping the market balanced but slightly bearish throughout the quarter.

Electrical steel prices in China declined by 1.76% in September 2025, mainly due to weakened demand from the transformer and motor manufacturing sectors amid slower industrial output. Adequate production levels and steady raw material availability further pressured domestic prices, while export orders remained limited due to global economic uncertainty.

Overall, the electrical steel market in China during Q3 2025 reflected a downward trend, with expectations of mild recovery in Q4 supported by anticipated improvements in power equipment and infrastructure demand.

India: Electrical Steel Domestically traded prices Ex-Mumbai, India, Grade- Non-grain (50WW800) 0.5mm.

According to Price-Watchâ„¢ , the electrical steel price trend in India has a decline of 2.32% in Q3 2025 compared to prior quarter due to slowing demand in the power equipment, transformer and motor manufacturing sectors. Weak demand from infrastructure investment and slow project execution have adversely affected domestic consumption.

Price competition from East Asia and steady pricing for inputs exerted additional pressure on Indian producers. While producers attempted to balance inventories and decrease output, the overall sentiment in the electrical steel market have been bearish throughout the quarter. Electrical steel prices in India fell by 0.45% in September 2025 primarily because of steady production activity amid moderate demand for electrical and power equipment.

Ample domestic supply and lower offers from regional suppliers have also contributed to weak price growth, which contributed to a slight downward change in prices. Overall, the electrical steel market in India has been in a slightly bearish market position in Q3 2025, but with a slight expectation for recovery in Q4 as infrastructure and power distribution projects improved in execution.

Thailand: Electrical Steel Import prices CIF Laem Chabang, Thailand, Grade- Non-grain (50WW800) 0.5mm.

During Q3 2025, the Electrical Steel price trend in Thailand showed a slight decrease of 1.14% from Q2 2025 while weak demand from the electrical equipment, appliance, and industrial machinery manufacturing sector became evident. The price declines have primarily been due to subdued infrastructure investments and hesitancy from manufacturers to increase inventory levels, limiting activity.

In addition, stable input costs and the pending import availability from China and Japan continued to contribute downward to prices, making market conditions slightly bearish, while producers cautiously consider production levels as they seek to align supply and demand levels. As a result, electrical steel prices in Thailand fell by 0.95% in September 2025, with the softer trends being attributed to weak demand from the transformer and electrical equipment manufacturing firms amid slower industrial activity.

The price declines have also been attributable to stable supply levels domestically and announced imports from various regional markets exerting a small downward price pressure. Overall, electrical steel in Thailand showed evidence of a softer trend during Q3 and showed signs of stability upon a gradual return of downstream industrial activity from infrastructure projects in Q4.

South Korea: Electrical Steel Domestically traded prices EX-Busan, South Korea, Grade- Non-grain (50WW800) 0.5mm.

In the third quarter of 2025, the Electrical Steel price trend in South Korea declined as the prices decreased by 0.92% from the previous quarter due to decreased demand from the automotive, transformer, and industrial machinery sectors.

Weaker downstream demand and relatively stable raw material prices, combined with competitive prices due to imports from China and Japan, contributed to the slight price decline, and producers have maintained controlled production and inventory management in order to minimize the risk of oversupply, which resulted in a slightly bearish sentiment for the market for the duration of the quarter.

Electrical Steel prices in South Korea also dropped in September 2025 by 0.66%, as weaker demand from the automotive and electrical equipment sectors was seen alongside weakening industrial production.

Domestic availability has been sufficient while imports have remained stable thus further contributing downward pressure to pricing. Overall, the electrical steel market in South Korea showed signs of weakening in Q3 of 2025 while a moderate stabilization is expected in Q4 as downstream demand improvement is anticipated.

Electrical Steel Price Trend Q4 2025

In Q4 2025, the global Electrical Steel market displayed a mixed trend, though the overall prices declined by around 1.07% during the quarter. While a few regions experienced brief periods of stability driven by industrial restocking, most major producers including China, India, the USA, and the United Kingdom reported a downward trajectory.

The market softness was primarily linked to muted demand from transformer and motor manufacturing sectors, along with reduced activity in construction-related electrical equipment. In contrast, Thailand and South Korea showed relatively stable price movements supported by domestic consumption. However, subdued export orders and high inventory levels in key markets kept overall sentiment weak, resulting in a marginal global price decline through the quarter.

China: Electrical Steel Export prices FOB Shanghai, China; Grade- Non-grain (50WW800) 0.5mm

In Q4 2025, electrical steel prices trend in China incline by 7.31% compared to Q3, reflecting weak domestic demand from transformer and motor manufacturers, slow infrastructure projects, and cautious restocking amid oversupplies. Despite stable raw material costs and moderate production levels, subdued downstream orders and limited export demand kept pressure on prices.

According to Price-Watchâ„¢ , in December 2025, prices declined 2.78% month-on-month, driven by continued inventory accumulation and muted procurement, while stable feedstock costs allowed producers to maintain output. Overall, the market remained bearish throughout Q4, with only a mild recovery expected in early 2026 if power equipment and grid investments pick up.

India: Electrical Steel Domestic traded prices Ex-Mumbai, India; Grade- Non-grain (50WW800) 0.5mm

In Q4 2025, the electrical steel market in India continued a bearish trend, with prices declining 3.15% quarter-on-quarter and 1.37% in December, primarily due to moderate demand from power, transformer, and electrical equipment sectors, persistent inventory build-ups, and competitive imports from East Asia.

Slower execution of infrastructure and industrial projects limited domestic consumption, while ample supply from local mills further pressured prices. Despite some optimism from logistics improvements and adjacent steel restocking, overall sentiment remained subdued, with expectations of a gradual recovery in Q1 2026 as infrastructure and power distribution projects gain momentum.

USA: Electrical Steel Domestic traded prices Del Alabama, USA; Grade- Non-grain (M15-C5) 0.5mm

In Q4 2025, electrical steel prices trend in the USA inclines 1.79% quarter-over-quarter, supported by steady demand from EV motor, transformer, and electrical equipment manufacturers, as well as ongoing investments in grid modernization and infrastructure projects. Producers maintained balanced capacity utilization, allowing modest price increases through November, while inventory levels remained stable.

In December 2025, prices further advanced 3.09%, driven by stronger steel market conditions, tighter availability, and year-end stocking by buyers. Overall, Q4 reflected a moderate recovery in the electrical steel market, with positive momentum expected to continue into early 2026.

UK: Electrical Steel Domestic traded prices FD-Sheffield, UK; Grade- Non-grain (50WW800) 0.5mm

In Q4 2025, electrical steel prices trend in the United Kingdom inclines by 1.38% compared to Q3, supported by a seasonal rebound in industrial activity, restocking ahead of infrastructure projects, and selective demand from the power and electrical machinery sectors. Despite ongoing high energy costs and cautious domestic demand, producer efforts to manage inventories and supply chain constraints helped sustain moderate price gains.

Import competition from European and Asian suppliers remained a moderating factor, though December saw a further 1.27% increase as year-end procurement and long-lead infrastructure orders boosted demand. Overall, the UK electrical steel market showed a modest bullish trend in Q4, with expectations of gradual strengthening in early 2026 as industrial activity and grid investments pick up.

Thailand: Electrical Steel Import prices CIF Laem Chabang, Thailand; Grade- Non-grain (50WW800) 0.5mm

In Q4 2025, electrical steel prices trend in Thailand declined by 3.58% compared to Q3, continuing the softening trend due to weak demand from transformers, motors, and electrical equipment manufacturers amid slower industrial and construction activity. Elevated imports from China and Japan, steady domestic supply, and ample distributor inventories exerted further downward pressure, while stable raw material and energy costs provided limited support.

In December specifically, prices fell 3.13%, reflecting cautious year-end restocking and muted procurement from key end-users. Overall, the market remained mildly bearish, with expectations of gradual stabilization in early 2026 as downstream demand and infrastructure projects pick up.

South Korea: Electrical Steel Domestic traded prices EX-Busan, South Korea; Grade- Non-grain (50WW800) 0.5mm

In Q4 2025, electrical steel prices in South Korea declined by 2.54 % quarter-on-quarter, continuing the softening trend from Q3 amid subdued demand from the automotive, transformer, and industrial machinery sectors. Competitive imports from China and Japan, combined with stable raw material costs, exerted additional downward pressure, while producers maintained controlled output and careful inventory management to prevent oversupply.

In December, prices fell further by 2.92 % as weaker industrial activity and slower orders from electrical equipment and automotive manufacturers limited downstream consumption. Overall, the market exhibited a mildly bearish sentiment throughout Q4 2025, with expectations of moderate stabilization in Q1 2026 as demand gradually recovers.

Electrical Steel Price Trend Q1 2024

In Q1 2024, the electrical steel market experienced a notable price surge, with prices increasing by $815 per metric ton, FOB Shangai a rise of approximately 4.69%. This uptick was driven by several converging factors, including strong demand from the renewable energy and electric vehicle (EV) sectors, both of which rely heavily on grain oriented and non-grain oriented electrical steels for efficient energy conversion and motor function.

Additionally, supply side constraints due to limited production capacity, elevated input costs (such as energy and raw materials), and tightening environmental regulations in key producing countries further exacerbated the upward pressure on prices. The combination of robust end use demand and constrained supply indicates a market under strain, signaling continued volatility and potential for further price adjustments throughout 2024.

In the first quarter of 2024, the electrical steel market in India saw a price increase of $1,096 per metric ton, Ex Mumbai or 2.71%. This rise was driven by several factors, including higher raw material costs, particularly coking coal, which saw a price spike due to disruptions in supply. Additionally, strong domestic demand fueled by infrastructure projects and growth in urban consumption contributed to the price hike.

The steel export sector also saw growth, with India’s steel exports reaching an 18 month high, further impacting domestic pricing dynamics. These combined factors led to the observed price increase in the electrical steel sector.

Electrical Steel Price Trend Q2 2024

In Q2 2024, the electrical sword request endured a notable downturn, with prices declining by roughly $779 per metric ton, FOB Shangai representing a 4.36% drop. This price reduction was primarily driven by a combination of factors, including dropped demand from crucial downstream diligence, surfeit in the request, and aggressive pricing strategies by major exporters. In the Asia Pacific region, particularly in Japan, the request faced significant challenges due to reduced conditions from the construction and automotive sectors, leading to sharp price cuts.

Also, geopolitical pressures and nonsupervisory pressures contributed to a conservative approach by buyers, performing in restrained request sentiment and a disinclination to make up supplies. These dynamics crowned in a persistently negative pricing terrain throughout the quarter, pressing the complications and challenges faced by the electrical sword assiduity during this period.

​In the second quarter of 2024, India’s electrical steel market has witnessed a notable price reduction of $1,071 per metric ton, Ex Mumbai translating to a 2.34% decrease. This decline could be attributed to several factors, including fluctuating demand, changes in raw material costs, and global market dynamics. A reduction in prices may reflect a correction in supply demand imbalances or a response to softer demand from key industries such as automotive and power generation.

The decrease in electrical steel prices may also be influenced by global trends or inventory adjustments, which could have resulted in some excess stock in the market. The shift in prices, while moderate, suggests a more cautious outlook, possibly impacting the profitability of domestic steel manufacturers in the short term, while providing some relief to downstream industries reliant on electrical steel inputs.

Electrical Steel Price Trend Q3 2024

In Q3 2024, the electrical sword request endured a notable price decline of $755 per metric ton, FOB Shanghai representing a 3.07% drop. This downturn reflects a combination of factors, including softened global demand particularly from the automotive and appliance sectors as well as easing raw material costs similar to iron ore and energy.

Also, bettered force chain effectiveness and increased product capacity in crucial regions like China and India contributed to surfeit pressures. This price adaptation signals a temporary cooling in the request after former diggings of elevated prices, and stakeholders are now covering whether this trend will stabilize or continue into Q4 amid shifting macroeconomic conditions.

In Q3 2024, India’s electrical steel market experienced a notable downturn, with prices declining by $1,048 per metric ton, Ex Mumbai reflecting a 2.12% decrease. This drop was part of a broader trend in the steel industry, where domestic prices for hot rolled coils (HRC) and cold rolled coils (CRC) fell to three-year lows, primarily due to a 68% surge in imports during the April–June quarter, reaching 1.93 million tonnes.

The influx of imported steel, especially from countries like China, Japan, and Vietnam, intensified price pressures on domestic producers. Additionally, weak demand from sectors such as automotive and renewable energy projects further exacerbated the situation. Despite these challenges, the government is considering implementing safeguard duties to protect the domestic industry from unfair trade practices and to stabilize the market.

Electrical Steel Price Trend Q4 2024

In Q4 2024, the electrical steel showcase experienced an eminent upward move, with costs expanding by $773 per metric ton, FOB Shanghai checking a 2.37% rise. This development reflects fixing supply elements and rising requests, especially from the vitality and car segments, where electrical steel is fundamental for transformers, engines, and EV components.

The cost uptick proposes expanded crude fabric costs, progressing worldwide foundation speculations, and maintained energy in the green vitality move. Showcase members may too be figuring in potential supply chain disturbances and geopolitical pressures, which contribute to estimating weight and vital stockpiling.

In Q4 2024, the electrical sword assiduity in India has endured a notable price increase of $1,065 per metric ton, Ex Mumbai reflecting a rise of 1.57%. This price hike could be driven by several factors, including advanced raw material costs, inflationary pressures, and implicit shifts in demand due to the adding relinquishment of electric vehicles and renewable energy systems, which bear electrical sword for manufacturing motors, mills, and other crucial factors.

As a critical material in the electrical sector, this price adaptation could also be told by global force chain dislocations or increased product costs in domestic manufacturing. The price increase may help sword manufacturers neutralize these pressures while potentially impacting downstream diligence reliant on electrical sword for their product processes.

Technical Specifications of Electrical Steel Price Trends

Product Description

Electrical steel is a specialized steel alloy designed to efficiently conduct magnetic flux, making it essential for use in transformers, electric motors, and generators. It is available in grain-oriented and non-grain-oriented types, each optimized for specific applications requiring high magnetic permeability and low energy loss. Alloyed with silicon, electrical steel minimizes core losses, enhances efficiency, and supports quiet, reliable operation in electrical and electronic devices.

Identifiers and Classification:

  • HS Code – 722519


Electrical Steel Synonyms:

  • Silicon Steel
  • Electrical steel
  • E-steel
  • Lamination steel
  • Silicon electrical steel
  • Silicon steel
  • Relay steel
  • Transformer steel
  • Magnetic steel


Electrical Steel Grades Specific Price Assessment:

  • Electrical Steel Non-grain (M15-C5) 0.5mm Price Trend
  • Electrical Steel Non-grain (50WW800) 0.5mm Price Trend
  • Electrical Steel Non-grain (50PN800) 0.5mm Price Trend


Electrical Steel Global Trade and Shipment Terms

  • Quotation Terms (Product & Country Specific): 50-60 MT
  • Packaging Type (Product & Country Specific): Container

 

Incoterms Referenced in Electrical Steel Price Reporting

Shipping Term  Location  Definition 
FOB Shanghai  Shanghai, China  Electrical Steel Export price from China 
Del Alabama  Alabama, USA  Domestically Traded Electrical Steel price in USA 
FD Sheffield  Sheffield, UK  Domestically Traded Electrical Steel price in UK 
CIF Laem Chabang  Laem Chabang, Thailand  Domestically Traded Electrical Steel price in Thailand 
EX-Mumbai, CIF Nhava Sheva  Mumbai, Nhava Sheva, India  Domestically Traded Electrical Steel price in India 
EX-Busan  Busan, South Korea  Domestically Traded Electrical Steel price in South Korea 

*Quotation Terms refers to the quantity range specified for the Electrical Steel being quoted or offered in a commercial transaction.

**Packaging Type refers to standard packaging size commonly used for Electrical Steel packing, ease of handling, transportation, and storage in industrial and commercial applications.


Key Electrical Steel Manufacturers

Manufacturer 
Tata Steel Group 
JSW Steel 
SAIL 
POSCO 
Nucor Corporation 
United States Steel Corporation 
China Baowu Steel Group 
British Steel 

Electrical Steel Industrial Applications

electrical steel market share end use

Historically, several events have caused significant fluctuations in Electrical Steel prices

  • Global Supply Chain Disruption (2022): The war in Ukraine and other geopolitical tensions disrupted supply chains, leading to price volatility in various commodities, including Electrical Steel.
  • Global Economic Downturn (2019-2020): The global economic slowdown, particularly in sectors like steel and automotive, led to reduced demand for Electrical Steel, resulting in lower prices.
  • COVID-19 Pandemic (2019-2020): The global pandemic led to a significant decline in demand for Electrical Steel-intensive industries, such as steelmaking and automotive manufacturing, causing prices to plummet.

These events underscore the Electrical Steel market’s vulnerability to global disruptions and highlight the need for continuous monitoring of supply-demand dynamics.

Why Price Watchâ„¢?

Price Watchâ„¢ is your trusted resource for tracking global electrical steel price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the electrical steel market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, Price Watchâ„¢ keeps you fully informed of market dynamics.

In addition, Price Watch™ provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With Price Watch™, you gain a competitive edge in understanding all the elements that influence electrical steel prices worldwide. Stay ahead of the curve with Price Watch’s™ reliable, accurate, and timely electrical steel market data.

Track Price Watch'sâ„¢ electrical steel price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.

Electrical Steel Market Price Trend published by Price Watchâ„¢ reflect prevailing spot market conditions, derived from independent research, verified trade inputs, and proprietary market intelligence as of the publication date. Prices are published on the specified Incoterm and represent indicative base market levels, exclusive of applicable taxes, VAT, duties, tariffs, and other statutory charges. Actual transaction values may vary depending on volume, credit terms, contractual structure, and other negotiated conditions. Market prices are inherently subject to volatility, liquidity dynamics, regulatory changes, and evolving trade activity. The information provided is for reference and benchmarking purposes only and does not constitute an offer, recommendation, or guarantee of transactional outcomes. Users should exercise independent commercial judgment and assess their specific contractual, regulatory, tax, and application requirements before making business decisions. Price Watchâ„¢ assumes no liability for decisions taken based on this information.

Electrical steel, also known as silicon steel or lamination steel, is engineered to have specific magnetic properties for use in electrical applications like transformers, motors, and generators. Its performance is influenced by a variety of factors, including:

Chemical Composition

Silicon content (SI): Typically 1–6.5%. Increases electrical resistivity and reduces core losses but decreases ductility.

Carbon content: Very low (<0.005%) to prevent aging and maintain magnetic properties. Other elements (e.g., aluminum, manganese): Can fine-tune grain growth and magnetic characteristics. Grain Structure Grain size: Larger grains reduce hysteresis loss but may affect mechanical properties. Grain orientation: Non-oriented (NO): Random grain directions; used in rotating machines. Grain-oriented (GO): Optimized for magnetization in one direction; used in transformers. Manufacturing Process Cold rolling: Improves surface finish and grain structure but requires annealing. Annealing (primary and secondary recrystallization): Refines grain structure and develops desired orientation. Decarburization: Removes carbon to reduce aging and maintain magnetic quality. Coating Applied to reduce eddy currents, prevent oxidation, and improve punchability. Types include: Insulating coatings: Improve interlaminar resistance. Mechanical coatings: Enhance formability and protect during punching. Thickness of Lamination Thinner sheets reduce eddy current losses, improving efficiency, but increase cost and complexity. Magnetic Properties Permeability: Determines how easily the steel can be magnetized. Core loss: A measure of energy lost during magnetization cycles, including hysteresis and eddy current losses. Coercivity: Low coercivity is preferred for less energy loss. Mechanical Properties Impact forming, punching, and stacking during machine assembly. Must balance strength and magnetic performance. Operating Conditions Frequency of operation: Higher frequencies demand thinner laminations and higher resistivity. Temperature: Magnetic properties degrade at high temperatures; alloy and coatings must handle expected conditions.

Feedstock prices have a significant impact on the cost and availability of electrical steel, a specialized material used primarily in the cores of transformers, motors, and generators. Electrical steel is produced using raw materials such as iron ore, coal (for steelmaking), and alloying elements like silicon. When the prices of these feedstocks rise, production costs for electrical steel also increase, leading to higher market prices.

The price of electrical steel is closely linked to inflation through both direct and indirect economic mechanisms. As inflation rises, the cost of raw materials, energy, labor, and transportation also tends to increase, all of which contribute to higher production costs for electrical steel. Additionally, inflation often leads to higher interest rates as central banks try to control rising prices, which can reduce investment in infrastructure and manufacturing—key sectors that consume electrical steel—potentially impacting demand.

Electrical steel (also called silicon steel) is a high-grade steel alloy with low electrical losses, used primarily in transformers, motors, generators, and other electromagnetic devices. Its price impacts manufacturers of electrical equipment, automotive industries, and power utilities. Price-Watchâ„¢ tracks these prices to help businesses and consumers stay updated with market trends.

Electrical steel prices vary depending on grade (grain-oriented or non-grain-oriented), thickness, and market conditions. Prices are usually quoted per metric ton and fluctuate due to global supply, steelmaking capacity, industrial demand, and currency exchange rates. Price-Watchâ„¢ provides real-time price assessments across different markets to assist buyers and sellers.

Prices fluctuate due to raw material costs (iron, silicon), energy prices, production capacity, technological advancements, and demand from the automotive and energy sectors. Trade policies, logistics costs, and macroeconomic factors also influence trends.

Major consumers include transformer and motor manufacturers, automotive producers, renewable energy equipment manufacturers, and industrial machinery sectors. Price-Watchâ„¢ analyzes demand patterns across all these industries.

Electrical steel is produced from iron and silicon alloys through specialized steelmaking processes. Grain-oriented steel is processed to align the grains for low core loss, while non-grain-oriented steel is produced for multi-directional applications.

Leading exporters include China, Japan, Germany, South Korea, and the United States. Export volumes are influenced by domestic policies, energy costs, technological capabilities, and global demand. Price-Watchâ„¢ tracks production levels, export flows, and trade patterns to help businesses navigate global supply chains.

Supply generally meets demand, but disruptions may occur due to raw material shortages, energy supply issues, or spikes in industrial consumption. Price-Watchâ„¢ monitors these supply-demand imbalances to highlight potential shortages or surpluses.

Grades include grain-oriented, non-grain-oriented, and specialty alloy forms. Prices vary based on electrical performance, thickness, and surface coating. Price-Watchâ„¢ provides separate assessments for each grade to ensure market transparency.

When demand rises, for example from electric vehicle production or renewable energy projects, prices typically climb. Suppliers may prioritize certain customers, and lead times can extend. Price-Watchâ„¢ captures these market dynamics in real-time.

Steel production is energy-intensive. Rising electricity, gas, or coal costs often affect pricing. Regions with cheaper energy tend to have lower production costs, a correlation that Price-Watchâ„¢ analyzes in price reports.

Variations arise from local demand, import/export dependency, shipping costs, and currency fluctuations. Price-Watchâ„¢ tracks prices across major regions to highlight these differences.

Forecasts consider production capacity, raw material costs, industrial demand, and global macroeconomic factors. Price-Watchâ„¢ regularly publishes projections for the next 12 months based on supply additions, demand growth, seasonal trends, and market indicators. These forecasts help businesses plan procurement and production strategies.

Yes. Accurate forecasts allow businesses to optimize purchasing, negotiate contracts, and manage inventories. If Price-Watchâ„¢ predicts a price rise, companies may stock up or lock in long-term contracts, potentially reducing costs.

Events like trade restrictions, raw material shortages, energy crises, or industrial policy changes can cause supply disruptions and price volatility. Price-Watchâ„¢ provides timely alerts on such market impacts.

Price-Watchâ„¢ collects data from manufacturers, distributors, and buyers worldwide to publish regular price assessments, market reports, and forecasts. Its transparent methodology makes it a trusted source for understanding fair pricing and market trends in the Electrical Steel industry.

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