Weekly Summary: 2023 China Bearing Steel Market Trend in First Week of August is Stable Generally

Weekly Summary: 2023 China Bearing Steel Market Trend in First Week of August is Stable Generally

1. Review of this week

【Price】

This week, the mainstream market price of bearing steel in the whole country remained stable. Now the average price of GCr15Φ30 round steel in five major markets across the country is 4736 yuan/ton.

【Summary of major markets】

The price of bearing steel in the Liaocheng market is temporarily stable, and downstream purchases are cautious. In the Liaocheng market, Juneng and Jiyuan steel mills have relatively abundant supply of goods, and many traders have stocks of about 2,000 tons. From the perspective of the market situation, downstream terminal enterprises are not motivated enough to purchase and the market demand is weak. However, in view of the current poor market demand and the general shipment situation, it is expected that the price of bearing steel in the Liaocheng market may temporarily stabilize in the short term. Now Jiyuan Iron and Steel GCr15Φ16-29.5 is quoted at 4650 yuan/ton, and Juneng Special Steel GCr15Φ16-90 is quoted at 4400 yuan/ton.

The price of bearing steel in the Hangzhou market is weak and stable, and the transaction atmosphere is general. At present, the spot inventory in the Hangzhou market is mainly based on the resources of Zhongtian Iron and Steel, Nanjing Iron and Steel, and Daye Special Steel, and most traders keep the inventory above 1,000 tons. In view of the general downstream demand in the near future, it is expected that the price of bearing steel in the Hangzhou market may fluctuate within a narrow range in the short term. As of press time, Zhongtian Iron and Steel GCr15Φ40-140 is quoted at 4,600 yuan/ton, and Daye Special Steel GCr15Φ20-40 is quoted at 5,100 yuan/ton.

The price of bearing steel in the Wuxi market is weak, and the market demand is average. At present, the spot inventory in the Wuxi market is dominated by the resources of Zhongtian Iron and Steel, Nanjing Iron and Steel, and Xingcheng Special Steel, and most traders keep their inventories above 1,000 tons. As of press time, Zhongtian Iron and Steel GCr15Φ40-140 is quoted at 4,600 yuan/ton, and Xingcheng Special Steel GCr15Φ31-90 is quoted at 5,870 yuan/ton.

The price of bearing steel in the Luoyang market is running smoothly, and the market demand is average. At present, there are few spot resources in the Luoyang market, and there is not much inventory replenishment. Jiyuan, Daye Special Steel and Hegang Shigang have relatively abundant supplies, and some traders have stocks of about 1,000 tons. It is expected that the price of bearing steel in Luoyang may fluctuate within a narrow range in the short term. As of press time, Jiyuan Iron and Steel GCr15Φ6.5-23 is quoted at 4,800 yuan/ton, Daye Special Steel GCr15Φ20-40 is quoted at 5,150 yuan/ton, and Hegang Shigang GCr15Φ131-180 is quoted at 4,650 yuan/ton.

The price of bearing steel in the Northeast market is stable, and the market activity is low. In the Dalian market, Benxi Iron and Steel, Dongte and Jianlong Beiman have relatively abundant supplies, and many traders have 3,000-4,000 tons in stock. It is expected that the price of Dalian bearing steel may run steadily and weaken in the short term. Benxi Iron and Steel Special Steel GCr15Φ81-130 is quoted at 4600 yuan/ton, Dongte GCr15Φ86-180 is quoted at 4800 yuan/ton, and Jianlong Beiman GCr15Φ30-75 is quoted at 4750 yuan/ton.

【Steel mills】

From July 28th to August 4th, the price adjustments of major bearing steel mills across the country are as follows: a total of 1 steel mill released price adjustment information in this period, and a total of 1 price adjustment information was released. Next week, we should continue to pay attention to the impact of consumer demand and steel mill maintenance .

2. Outlook for the next week

The current market is characterized by the off-season, the downstream demand is still weak, and the speed of merchants' destocking has slowed down. However, under the influence of strengthening macro expectations, market confidence has improved slightly. On the whole, it is expected that the market price of bearing steel will fluctuate within a narrow range next week.