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Fastmarkets has decided to launch a bi-weekly price assessment for Chinese grain-oriented electrical steel (GOES) on Friday April 17.
The decision follows a one-month consultation period which ended on April 4.
The demand for GOES grew alongside the rapid expansion of industries such as power transmission, energy storage, artificial intelligence (AI) data centers, and electric vehicle (EV) charging stations.
Chinese steel mills have increased production of GOES in response to growing demand and GOES output reached 3.37 million tonnes in 2025, up by 14.3% from 2.95 million tonnes in 2024, according to industry body the Chinese Society for Metals.
Exports of Chinese GOES also hit a fresh high of 757,717 tonnes in 2025, up by 18% from 642,077 tonnes a year earlier, according to Chinese customs data.
The introduction of Fastmarkets new price assessment will broaden the coverage of the electrical steel market and enhance Fastmarkets’ range of existing price assessments for non-grain oriented electrical steel in India and China, as well as GOES in India.
The specification for the new price is as follows:
MB-STE-0952 – Electrical steel, cold-rolled grain oriented, ex-whs Eastern China, $/tonneQuality: B23R085 and same specifications produced by other steel mills, 0.23mm*1,000mm*CQuantity: 10 tonnes minimumLocation: Ex-warehouse ShanghaiTiming: 1-2 weeksUnit: $/tonnePayment terms: Prompt payment upon deliveryPublication: Every second week, Friday 4-6pm Shanghai timeNotes: Inclusive of 13% VAT. The unit of assessment is $/tonne, converted from yuan/tonne.
This assessment will be part of the Fastmarkets steel package.
To provide feedback on these price assessments, or if you would like to provide price information by becoming a data submitter to these prices, please contact pricing@fastmarkets.com and steel@fastmarkets.com. Please add the subject heading “re: China electrical steel.”
Please indicate if comments are confidential. Fastmarkets will consider all comments received and will make comments not marked as confidential available upon request.
To see all Fastmarkets pricing methodology and specification documents, go to the Fastmarkets methodology page.