Weekly Summary: 2025 China Bearing Steel Market Trend in Third Week of November is running weakly and steadily

Weekly Summary: 2025 China Bearing Steel Market Trend in Third Week of November is running weakly and steadily

1、 This week's review

【In terms of price】

This week, the price of bearing steel has remained stable, with an absolute GCr15 price index of 4867 yuan/ton as of today.

【Overview of Major Markets】

The price of bearing steel in Liaocheng market has fluctuated downward. At present, the market has sufficient spot resources, and steel mills such as Juneng, Handan Iron and Steel, Ausen, and Ronggang have stable arrivals. Traders' inventories are generally maintained at around 1000 tons, and the supply side remains stable. At present, the Liaocheng bearing steel market is in a supply-demand game stage, and traders are becoming more cautious, generally adopting a strategy of replenishing inventory on demand to reduce risks. The prices of high-end products or specific specifications of bearing steel are relatively firm, while some ordinary specifications face certain sales pressure, and the market ships along with them. It is expected that the price of bearing steel in Liaocheng market will fluctuate narrowly next week. As of press time, Jiyuan Steel's GCr15 Φ 30-75 is quoted at 4000 yuan/ton, and Juneng Special Steel's GCr15 Φ 16-90 is quoted at 3700 yuan/ton.

The price of Hangzhou bearing steel market is weak and fluctuating. In terms of spot inventory, mainstream resources such as Zhongtian and Nangang have sufficient supply, and most traders' inventory remains stable at the level of thousands of tons. At present, downstream terminal consumption lacks momentum, procurement willingness is sluggish, and the market lacks bulk orders. The price of high-end products or specific specifications of bearing steel still has resilience, while some ordinary specification products are under pressure and have a downward trend in price. Overall, it is expected that the price of bearing steel in Hangzhou will remain weak and stable in the short term. As of press time, Zhongtian Steel's GCr15 Φ 40-140 quotation is 3980 yuan/ton, and Daye Special Steel's GCr15 Φ 20-40 quotation is 4700 yuan/ton.

The mainstream price of bearing steel in the Wuxi market is relatively stable, with some resources experiencing slight fluctuations. The main steel plant resources in the local market, such as Zhongtian, Nangang, Benxi Iron and Steel, Yonggang, etc., have stable supply, and the inventory of traders is generally maintained at about 800 tons. At present, the demand for orders in downstream terminal industries such as automobiles, home appliances, and machinery manufacturing has not increased. The market is mainly based on on-demand procurement, and the acceptance of high priced resources is limited. The overall mentality of traders is becoming more cautious. Some merchants have taken small concession measures for some regulated resources to accelerate transactions and alleviate inventory pressure. Overall, in the absence of substantial improvement in demand, the price of bearing steel in the Wuxi market may continue to be weak in the short term. As of press time, Zhongtian Steel's GCr15 Φ 40-140 quotation is 3980 yuan/ton, and Xingcheng Special Steel's GCr15 Φ 31-90 quotation is 5560 yuan/ton.

The price of bearing steel in Dalian market is mainly stable. The main steel mills in the Dalian market, including Benxi Iron and Steel, Dongte, and Jianlong Beiman, have sufficient overall supply, and the inventory scale of large-scale traders is maintained at around 1500 tons. At present, the support for upstream raw material prices has weakened, and the driving effect on the cost side has slowed down. Downstream terminal consumption is generally average, with on-demand procurement being the main factor, which constitutes a key suppressing factor for price rebound. Resulting in lukewarm market transactions, making it difficult to form strong support for prices. Overall, it is expected that downstream demand will remain stable in the short term, and the price of bearing steel in the Dalian market may maintain a weak and stable trend. The current quotation for Bengang Special Steel GCr15 Φ 81-130 is 4090 yuan/ton, Dongte Stock GCr15 Φ 86-180 is 4090 yuan/ton, and Jianlong Beiman GCr15 Φ 30-75 is 4190 yuan/ton.

The price of bearing steel in Luoyang market is running weakly and steadily. Recently, the local market has had sufficient supply of Jiyuan Steel and Daye Special Steel resources, and the inventory of traders remains around 500 tons. This week, spot prices have fluctuated downward with the mainstream trend, and weak demand has had a significant suppressive effect on market prices. Traders' quotes have slightly loosened, but the actual trading atmosphere is still relatively light. Local terminal enterprises mainly purchase in small quantities for essential needs. Overall, it is expected that the price of bearing steel will remain weakly stable in the short term. As of press time, Jiyuan Iron and Steel GCr15 Φ 6.5-23 is currently reported at 4290 yuan/ton, Daye Special Steel GCr15 Φ 20-40 is currently reported at 4680 yuan/ton, and Hegang Stone Steel GCr15 Φ 131-180 is currently reported at 4200 yuan/ton.

【Regarding steel mills】

From November 14th to November 21st, no steel mills have released price adjustment information for this period. We should continue to pay attention to the impact of consumer demand and steel mill maintenance next week.

2、 Next week's outlook

This week, the national bearing steel market prices have been running weakly and steadily. Given the recent neutral and weak wait-and-see attitude of merchants towards the future market, traders have a strong willingness to ship, and some have slightly reduced prices for promotions due to shipping pressure, resulting in a slight drop in prices. Terminal procurement still adheres to the "small order on-demand" procurement strategy, and it is expected that the price of bearing steel will fluctuate weakly next week.