CBCC

Apr.25 2024 Bearing Round Steel and Bar Steel Price in Major Steel Mills of China

25.Apr,2024

2024 China Bearing Round Steel Price from Different Steel Mills on Apr.25

25.Apr,2024

Apr.24 2024 Bearing Round Steel and Bar Steel Price in Major Steel Mills of China

24.Apr,2024

2024 China Bearing Round Steel Price from Different Steel Mills on Apr.24

24.Apr,2024

Apr.23 2024 Bearing Round Steel and Bar Steel Price in Major Steel Mills of China

23.Apr,2024

2024 China Bearing Round Steel Price from Different Steel Mills on Apr.23

23.Apr,2024

Apr.22 2024 Bearing Round Steel and Bar Steel Price in Major Steel Mills of China

22.Apr,2024

2024 China Bearing Round Steel Price from Different Steel Mills on Apr.22

22.Apr,2024

Weekly Summary: 2024 China Bearing Steel Market Trend in Third Week of April is temporarily Stable

21 Apr,2024

Weekly Summary: 2024 China Bearing Steel Market Trend in Third Week of April is temporarily Stable

1、 Review of this week

[In terms of price]

This week, the mainstream market prices of bearing steel in China have temporarily stabilized, and currently GCr15 is available in five major markets nationwide Φ The average price of 30 round steel is 5152.5 yuan/ton.

[Main Market Overview]

The price of bearing steel in the Liaocheng market is temporarily stable, and the sentiment of merchants is cautious. This week, the new arrivals of resources have slightly slowed down. At present, the spot bearing steel in the Liaocheng market is mainly from the resources of Juneng and Jiyuan steel mills, and the inventory of multiple traders is maintained at around 1000 tons. This week, the purchasing power of the terminal was weak, with fewer bulk orders, and the enthusiasm of trading merchants to offer was average. The market was mostly cautious and cautious, and in terms of operation, merchants often chose to negotiate on a single basis without locking in prices. Overall, it is expected that the price of bearing steel in the Liaocheng market will remain stable in the short term. Jiyuan Steel GCr15 Φ Reported at 4620 yuan/ton on 16-29.5, Juneng Special Steel GCr15 Φ Reported at 4500 yuan/ton for 16-90.

The price of bearing steel in the Hangzhou market remained stable and transactions were average. The spot inventory in the Hangzhou market is mainly composed of resources from Zhongtian Steel, Nanjing Steel, and Daye Special Steel, and the inventory level remains stable. This week's market transactions were average, with downstream restocking mainly based on demand. The market is mostly cautious and wait-and-see, but recently the price of black series has rebounded, and market confidence has shown a trend of recovery. Overall, it is expected that the short-term price of bearing steel in the Hangzhou market will mainly focus on stable operation. As of publication, Zhongtian Steel GCr15 Φ 40-140 RMB 4620/ton, Daye Special Steel GCr15 Φ Reported at 4900 yuan/ton from 20 to 40.

The price of bearing steel in the Wuxi market is temporarily stable, with average transactions. The spot market in Wuxi is mainly composed of resources from Zhongtian Steel, Xingcheng Special Steel, and Benxi Steel, with most traders having a stock of around 1000 tons. At present, the release of market demand is not as good as in previous years, and downstream procurement performance is cautious. At present, traders have chaotic quotations, and in order to promote transactions, they choose to negotiate on a per order basis. Overall, it is expected that the price of bearing steel in the Wuxi market will operate steadily next week. As of publication deadline, Zhongtian Steel GCr15 Φ 40-140 RMB 4630/ton, Xingcheng Special Steel GCr15 Φ Reported between 31 and 90 is 5720 yuan/ton.

The price of bearing steel in the Dalian market is mainly stable, and the market trading atmosphere is average. In the Dalian market, Bengang, Dongte Co., Ltd., and Jianlong Beiman have abundant supply of goods, with large-scale traders holding around 3000 tons of inventory. Downstream terminal procurement is cautious, and demand has not reached the expected level, resulting in a significant situation of strong supply and weak demand in the market. In practical operation, it is common for merchants to sell at low prices in order to promote transactions. Considering the recent slight increase in raw material prices, it is expected that the price of bearing steel in Dalian will operate steadily next week. Current Benxi Steel Special Steel GCr15 Φ 81-130 reported 4700 yuan/ton, GCr15 from Dongte Group Φ 86-180 yuan/ton, Jianlong Beiman GCr15 Φ 30-75 yuan/ton.

The price of bearing steel in the Luoyang market is temporarily stable, but the transaction performance is poor. In the recent stage, the main sources of goods in the Luoyang market are Jiyuan Steel, Daye Special Steel, and Hegang Stone Steel, with some traders storing around 1000 tons. At present, the market feedback shows that downstream terminal enterprises have insufficient procurement efforts, the trading atmosphere in the spot market is relatively cold, and the speed of inventory consumption has slowed down. Given the slight increase in raw material prices and some support for spot market prices, it is expected that the price of bearing steel in the Luoyang market may temporarily stabilize next week. As of publication deadline, Jiyuan Steel GCr15 Φ 6.5-23 quoted 4800 yuan/ton, Daye Special Steel GCr15 Φ 20-40 RMB 5050/ton, Hegang Shigang GCr15 Φ 131-180 yuan/ton.

【In terms of steel mills】

From April 12th to April 19th, no steel mills have released any price adjustment information. We should continue to monitor consumer demand and the impact of steel mill maintenance next week.

2、 Outlook for next week

This week, the price of bearing steel in the market has remained stable, with average market transaction performance. Although there are signs of improvement in the market, most downstream companies still maintain a cautious wait-and-see attitude, with primary demand procurement. At present, trading quotes are relatively chaotic, with operations mainly focused on selling inventory to recover funds. In terms of sentiment, given the upward volatility of black futures this week, market confidence is showing a trend of recovery. Overall, it is expected that the bearing steel market price will remain stable next week.

Weekly Summary: 2024 China Bearing Steel Market Trend in Second Week of April is Weak and Stable

21 Apr,2024

Weekly Summary: 2024 China Bearing Steel Market Trend in Second Week of April is Weak and Stable

1、 Review of this week

[In terms of price]

This week, the mainstream market price of bearing steel in China remained weak and stable. Currently, there are 5 major markets in China, GCr15 Φ The average price of 30 round steel is 5157.5 yuan/ton.

[Main Market Overview]

The price of bearing steel in the Liaocheng market is weak and stable, and downstream purchases are made on demand. Recently, the bearing steel spot in the Liaocheng market is relatively abundant in resources from Juneng, Jiyuan, and steel mills, with multiple traders maintaining a stock of around 1000 tons. This week's transactions have slightly increased compared to last week, and the sentiment of merchants has improved. However, downstream procurement is still cautious, and traders often choose to offer discounts to promote transactions. Overall, it is expected that the price of bearing steel in the Liaocheng market will remain weak and stable in the short term. Jiyuan Steel GCr15 Φ 30-75 RMB 4630/ton, Juneng Special Steel GCr15 Φ Reported at 4500 yuan/ton for 16-90.

The price of bearing steel in the Hangzhou market is temporarily stable, and the sentiment of merchants has slightly improved. The spot inventory in the Hangzhou market is mainly composed of resources from Zhongtian Steel, Nanjing Steel, and Daye Special Steel, and the inventory level remains stable. The trading atmosphere in the market this week was average. Given that demand recovery was less than expected, merchants had a low willingness to replenish inventory, and spot market prices followed suit. However, due to a slight rebound in recent trading conditions, merchant sentiment has slightly improved. Overall, it is expected that the price of bearing steel in the Hangzhou market will continue to remain stable in the short term. As of publication, Zhongtian Steel GCr15 Φ 40-140 RMB 4620/ton, Daye Special Steel GCr15 Φ 45-120 yuan/ton.

The price of bearing steel in the Wuxi market is weak and stable, with average transactions. The spot market in Wuxi is mainly composed of resources from Zhongtian Steel, Xingcheng Special Steel, and Benxi Steel, with most traders having a stock of around 1000 tons. At present, the market demand performance is average, with overall transactions mainly based on demand for individual orders, and market prices are significantly suppressed by demand. Traders are cautious in their quotations and choose to trade at a discounted price in order to ship more. Overall, considering the lower than expected demand, it is expected that the price of bearing steel in the Wuxi market will temporarily stabilize next week. As of publication deadline, Zhongtian Steel GCr15 Φ 40-140 RMB 4630/ton, Xingcheng Special Steel GCr15 Φ Reported between 31 and 90 is 5720 yuan/ton.

The price of bearing steel in the Dalian market remains stable, and merchants are cautious in their operations. In the Dalian market, Bengang, Dongte Co., Ltd., and Jianlong Beiman have abundant supply of goods, with large-scale traders holding around 3000 tons of inventory. Downstream terminal procurement is cautious, and demand has not reached the expected level, resulting in a significant situation of strong supply and weak demand in the market. In terms of price, given the slightly sluggish market transactions, businesses are having more and more bargaining space to promote transactions. Considering the recent stabilization of raw material prices, it is expected that the price of bearing steel in Dalian will operate steadily next week. Current Benxi Steel Special Steel GCr15 Φ 81-130 reported 4700 yuan/ton, GCr15 from Dongte Group Φ 86-180 yuan/ton, Jianlong Beiman GCr15 Φ 30-75 yuan/ton.

The price of bearing steel in the Luoyang market is weak and stable, with strong wait-and-see sentiment among merchants. In the recent stage, the main sources of goods in the Luoyang market are Jiyuan Steel, Daye Special Steel, and Hegang Stone Steel, with some traders storing around 1000 tons. At present, market feedback shows that downstream terminal enterprises have insufficient procurement efforts, the trading atmosphere in the spot market is weak, and the speed of inventory consumption is slowing down. Given the slight increase in raw material prices, which has a certain supportive effect on spot market prices, it is expected that the price of bearing steel in the Luoyang market may temporarily stabilize next week. As of publication deadline, Jiyuan Steel GCr15 Φ 6.5-23 quoted 4800 yuan/ton, Daye Special Steel GCr15 Φ 20-40 RMB 5050/ton, Hegang Shigang GCr15 Φ 131-180 yuan/ton.

【In terms of steel mills】

There is currently no price adjustment information released by steel mills in this issue. We should continue to monitor consumer demand and the impact of steel mill maintenance next week.

2、 Outlook for next week

This week, the price of bearing steel has remained weak and stable, with transactions not significantly different from last week. Given that market demand has not been released as expected, downstream procurement is still cautious, highlighting the pressure on merchants. In terms of pricing, the current market quotation is cautious, and merchants tend to choose fast in and out payment as the main mode of operation, resulting in a constantly expanding bargaining space. Overall, it is expected that the bearing steel market prices will temporarily stabilize next week.

Weekly Summary: 2024 China Bearing Steel Market Trend in First Week of April is Characterized by Weak and Stable

21 Apr,2024

Weekly Summary: 2024 China Bearing Steel Market Trend in First Week of April is Characterized by Weak and Stable

1、 Review of this week

[In terms of price]

[Main Market Overview]

The price of bearing steel in the Liaocheng market is weak and stable, with average transactions. The bearing steel spot in the Liaocheng market is relatively abundant in resources from Juneng and Jiyuan steel mills, with multiple traders maintaining a stock of around 1000 tons. At present, the market transactions are mainly based on low-priced resources, and the shipping speed is average. This week's transactions have decreased compared to last week. In terms of emotions, the current market prices are significantly suppressed by demand, and downstream procurement is cautious. Overall, it is expected that the price of bearing steel in the Liaocheng market may slightly decline in the short term. Jiyuan Steel GCr15 Φ Reported at 4680 yuan/ton on 16-29.5, Juneng Special Steel GCr15 Φ Reported at 4550 yuan/ton for 16-90.

The price of bearing steel in the Hangzhou market is temporarily stable, and downstream purchases are made as needed. The spot inventory in the Hangzhou market is mainly composed of resources from Zhongtian Steel, Nanjing Steel, and Daye Special Steel, and the inventory level remains stable. The trading atmosphere in the market has been poor this week, with spot prices following the market trend and relatively weak transactions. The trading situation is slightly pessimistic. In terms of emotions, merchants have weakened their expectations for the future market, lack confidence, and generally prioritize fast in and out shipments. Overall, it is expected that the price of bearing steel in the Hangzhou market may remain weak and stable in the short term. As of publication, Zhongtian Steel GCr15 Φ 40-140 RMB 4630/ton, Daye Special Steel GCr15 Φ Report 5000 yuan/ton for 20-40.

The price of bearing steel in the Wuxi market is weak and the demand is average. The spot market in Wuxi is mainly composed of resources from Zhongtian Steel, Xingcheng Special Steel, and Benxi Steel, with most traders having a stock of around 1000 tons. At present, the market trading is light, and the market prices are significantly suppressed by demand. Traders are cautious in their quotations, and their transaction performance is average. They often choose to trade at a discounted price. Overall, considering the slow recovery of demand, it is expected that the price of bearing steel in the Wuxi market may remain weak and stable next week. As of publication deadline, Zhongtian Steel GCr15 Φ 40-140 RMB 4620/ton, Xingcheng Special Steel GCr15 Φ Reported between 31 and 90 is 5720 yuan/ton.

The price of bearing steel in the Dalian market is weak and stable, and market transactions are relatively bleak. In the Dalian market, Bengang, Dongte Co., Ltd., and Jianlong Beiman have abundant supply of goods, with large-scale traders storing 3000-4000 tons. Downstream terminal procurement is cautious, with demand lower than the same period in previous years, and the market presents a situation of strong supply and weak demand. In terms of price, given the slightly weak market transactions, merchants are constantly expanding their bargaining space in order to promote transactions. Overall, it is expected that the price of bearing steel in Dalian will slightly decline next week. Current Benxi Steel Special Steel GCr15 Φ 81-130 reported 4600 yuan/ton, GCr15 from Dongte Group Φ 86-180 yuan/ton, Jianlong Beiman GCr15 Φ 30-75 yuan/ton.

The price of bearing steel in the Luoyang market is weak, and businesses are in a strong wait-and-see attitude. In the recent stage, the main sources of goods in the Luoyang market are Jiyuan Steel, Daye Special Steel, and Hegang Stone Steel, with some traders storing around 1000 tons. At present, market feedback shows that downstream terminal enterprises and merchants mostly continue to purchase on a mandatory basis, and the trading atmosphere in the spot market is light. In terms of inventory, due to lower than expected transaction performance, the consumption rate of bearing steel inventory is slow. Considering that the raw material prices are not sufficient to support the spot market prices, it is expected that the bearing steel prices in the Luoyang market will show a stable and weak trend next week. As of publication deadline, Jiyuan Steel GCr15 Φ Reported at 4750 yuan/ton from 6.5-23, Daye Special Steel GCr15 Φ Reported at 5000 yuan/ton from 20 to 40 yuan, Hegang Shigang GCr15 Φ 131-180 reported 4600 yuan/ton.

【In terms of steel mills】

There is currently no price adjustment information released by steel mills in this issue. We should continue to monitor consumer demand and the impact of steel mill maintenance next week.

2、 Outlook for next week

This week, the price of bearing steel has remained stable. Due to poor market demand and generally low market sentiment, downstream purchases were made on demand, and transactions this week have decreased compared to last week. Merchants are cautious in their quotations and often choose to offer discounts to promote transactions. Overall, it is expected that the bearing steel market prices will continue to operate weakly and steadily next week.

Weekly Summary: 2024 China Bearing Steel Market Trend in Fourth Week of March Fluctuates Downward

21 Apr,2024

Weekly Summary: 2024 China Bearing Steel Market Trend in Fourth Week of March Fluctuates Downward

1、 Review of this week

[In terms of price]

This week, the mainstream market prices of bearing steel in China have fluctuated and declined, with GCr15 in five major markets across the country Φ The average price of 30 round steel is 5152.5 yuan/ton.

[Main Market Overview]

The price of bearing steel in the Liaocheng market has declined significantly, and the sentiment of merchants is pessimistic. The bearing steel spot in the Liaocheng market is relatively abundant in resources from Juneng and Jiyuan steel mills, with multiple traders maintaining a stock of around 1000 tons. This week, the purchasing power at the terminal was weak, and the trading atmosphere in the spot market was relatively cold. There were few bulk orders, and the trading enthusiasm of traders was average, with weak willingness to raise prices. In terms of operation, merchants often chose to negotiate on a single basis and did not lock in prices. Overall, it is expected that the bearing steel prices in the Liaocheng market will continue to operate weakly and steadily in the short term. Jiyuan Steel GCr15 Φ Reported at 4680 yuan/ton on 16-29.5, Juneng Special Steel GCr15 Φ Reported at 4550 yuan/ton for 16-90.

The price of bearing steel in the Hangzhou market has fluctuated downward, with average demand performance. The spot inventory in the Hangzhou market is mainly composed of resources from Zhongtian Steel, Nanjing Steel, and Daye Special Steel, and the inventory level remains stable. This week, downstream procurement sentiment is average, with replenishment as needed as the main focus. The market trading atmosphere is slightly cold, inventory consumption is slow, market price support is weak, and bearing steel prices have fallen significantly. Overall, it is expected that the price of bearing steel in the Hangzhou market will continue to be weak in the short term. As of publication, Zhongtian Steel GCr15 Φ 40-140 RMB 4620/ton, Daye Special Steel GCr15 Φ Report 5000 yuan/ton for 20-40.

The price of bearing steel in the Wuxi market has fallen, with average transactions. The spot market in Wuxi is mainly composed of resources from Zhongtian Steel, Xingcheng Special Steel, and Benxi Steel, with most traders having a stock of around 1000 tons. At present, market demand is difficult to release, transactions are average, downstream procurement performance is not positive, and trading sentiment is relatively pessimistic. In order to promote transactions, we choose to negotiate on a per order basis. Overall, it is expected that the price of bearing steel in the Wuxi market will continue to be weak next week. As of publication deadline, Zhongtian Steel GCr15 Φ 40-140 RMB 4630/ton, Xingcheng Special Steel GCr15 Φ Reported between 31 and 90 is 5720 yuan/ton.

The price of bearing steel in the Dalian market has slightly fallen, and market transactions are relatively bleak. In the Dalian market, Bengang, Dongte Group, and Jianlong Beiman have abundant supply of goods, with multiple traders storing 3000-4000 tons. Downstream terminal procurement enthusiasm is weak, and traders are also cautious in their operations. Demand is lower than the same period in previous years, and the market is showing a situation of weak supply and demand. In terms of emotions, given the slightly weak market transactions, merchants tend to hold a cautious wait-and-see attitude. Overall, it is expected that the price of bearing steel in Dalian will slightly decline next week. Current Benxi Steel Special Steel GCr15 Φ 81-130 reported 4700 yuan/ton, GCr15 from Dongte Group Φ 86-180 yuan/ton, Jianlong Beiman GCr15 Φ 30-75 yuan/ton.

The price of bearing steel in the Luoyang market has declined narrowly, and merchants are operating cautiously. In the recent stage, the main sources of goods in the Luoyang market are Jiyuan Steel, Daye Special Steel, and Hegang Stone Steel, with some traders storing around 1000 tons. This week's market feedback shows that downstream terminal enterprises and merchants are cautious in their operations, mostly continuing with essential procurement, resulting in a weak trading atmosphere in the spot market. In terms of inventory, recent transaction performance has been dismal, and the overall speed of inventory consumption in society has slowed down. Considering that the raw material prices are not sufficient to support the spot market prices, it is expected that the bearing steel prices in the Luoyang market will show a stable and weak trend next week. As of publication deadline, Jiyuan Steel GCr15 Φ 6.5-23 quoted 4850 yuan/ton, Daye Special Steel GCr15 Φ Reported at 5100 yuan/ton on the 20th and 40th, Hegang Shigang GCr15 Φ 131-180 reported 4700 yuan/ton.

【In terms of steel mills】

From March 22nd to March 29th, no steel mills have released any price adjustment information. We should continue to monitor consumer demand and the impact of steel mill maintenance next week.

2、 Outlook for next week

This week, the price of bearing steel in the market fluctuated and declined, with weak market transactions. The market price was significantly suppressed by the impact of demand, with a broad downward trend. The speed of social inventory consumption slowed down, and transactions showed signs of weakness. Overall, it is expected that the price of bearing steel in the market will continue to decline narrowly next week.

Monthly Summary: The market price of bearing steel may Fluctuate Downward in April

21 Apr,2024

Monthly Summary: The market price of bearing steel may Fluctuate Downward in April

Overview: From January to February 2024, the domestic crude steel production of bearing steel increased by 18.08% year-on-year, and the production of bearing steel increased by 14.68% year-on-year. Looking back at the market situation in March, prices fell slightly due to demand suppression, and market transactions were average. Business sentiment was pessimistic. As of now, the average price of domestic bearing steel 50mm (continuous casting) is 5152.5 yuan/ton, a decrease of 40 yuan/ton from the beginning of the month. It is expected that the price of bearing steel in the market will fluctuate downward in April, and continuous attention should be paid to the release of demand in the later stage.

Ⅰ Domestic production of bearing steel

1. Bearing steel production from January to February 2024: year-on-year growth in crude steel and steel mills

From January to February 2024, the crude steel production of bearing steel by major premium steel enterprises in China was 925900 tons, an increase of 18.08% compared to the same period last year; From January to February 2024, China's main premium steel enterprises produced 769900 tons of bearing steel, an increase of 14.68% compared to the same period last year.

2. Bearing steel production in March 2024: month on month increase in steel production

According to the 21 samples collected by the Bearing Steel Research Group, the main premium steel enterprises in China produced 391500 tons of bearing steel in March 2024. Among them, 32.15 tons of bars accounted for 82.12%; 70000 tons of wire, accounting for 17.88%.

According to the research sample, it can be seen that the production of bearing steel in March has increased compared to February in terms of bar and wire production. The total amount of bearing steel increased by 2.3% month on month, the increase in bar materials was 2.65%, and the increase in wire materials was 0.72%.

3. From January to February 2024, the finished product production of bearing steel production enterprises: the total production of steel mills increased slightly

At present, the production enterprises with large output of bearing steel are CITIC Special Steel (Xingcheng Special Steel, Daye Special Steel, Qingdao Special Steel), Jiyuan Iron and Steel, and Juneng, accounting for 58% of the total output. From January to February 2024, the overall production of bearing steel slightly increased. Steel mills such as CITIC, Jiyuan, Juneng, Nangang, Zhongtian, Jianlong Beiman, and Laiwu Special Steel saw an increase in production compared to the same period last year, while steel mills such as Dongte Group, Shigang, Bensteel, Jiangsu Yonggang, and Xining Special Steel saw a decline in production.

Ⅱ Performance of Domestic Bearing Steel Market

In March, the price of bearing steel in the market fluctuated downward, and the improvement in market demand was not significant, leading to a pessimistic sentiment among merchants. At the beginning of the month, due to the continuous weakening of raw material prices and a small number of bulk orders in the market, short-term bearish sentiment began to emerge in the market. In the middle of the month, market demand did not improve, and merchant quotations began to decline narrowly, accompanying shipments, but the order volume was not satisfactory. At the end of the month, market prices were significantly suppressed by demand, and prices continued to decline. The speed of social inventory consumption slowed down, and transactions showed signs of weakness. Overall, it is expected that the bearing steel market prices will fluctuate downward in April.

Ⅲ Related market information

1. Raw material prices

The overall trend of iron ore prices in March showed a volatile downward trend, with the port spot price index performing weaker than forward prices. As of March 29th, the forward spot price index of 62% Australian iron ore powder was 97.8 US dollars/dry ton, a decrease of 16.62% from February. The PB powder price at Qingdao Port was 757 yuan/ton, a decrease of 16.81% compared to the previous month. The price difference between the current and future iron ore prices narrowed, and the spot import profits of most varieties narrowed slightly during the month. In terms of price, it is expected that the import ore prices in April will fall compared to March, and the specific trend is expected to show a rhythm of first rising and then falling. The key factor affecting mining prices in April is still the degree of recovery on the demand side.

The current spot price of high carbon ferrochrome is 8800 yuan/ton, an increase of 200 yuan/ton compared to the beginning of the month. Recently, the prices of chrome ore, coke, national electricity and freight have remained stable, and the production cost of high carbon ferrochrome has temporarily stabilized. Recently, there have been mixed fluctuations in the raw material market, with a slight increase in chromium ore futures and a landing in the seventh round of coke price hikes. The total cost range is still at a high level, and it is expected that the cost of high carbon ferrochrome will operate steadily in the short term.

The current price of scrap steel is 2260 yuan/ton, a decrease of 300 yuan/ton compared to the beginning of the month. In terms of the market, with the continuous deep decline in scrap steel prices, the overall willingness of upstream waste production enterprises and social recycling bases to ship has decreased. Recently, the amount of goods received by processing bases has decreased. Due to the instability of scrap steel prices, many bases have received goods at a deep drop of 50-100 yuan/ton in advance, and it is expected that the scrap steel market will experience weak and volatile operations in the short term.

2. Downstream industries

According to data released by the China Association of Automobile Manufacturers, in February 2024, the production and sales of automobiles reached 1.506 million and 1.584 million respectively, a decrease of 37.5% and 35.1% month on month, and a decrease of 25.9% and 19.9% year-on-year. Among them, the production and sales of new energy vehicles reached 464000 and 477000 respectively, a year-on-year decrease of 16% and 9.2%. February coincides with the Spring Festival, and the actual number of operating days in automobile factories has significantly decreased. Analysis shows that the automotive industry had good production and sales from a low base in January to February 2024. However, due to high competitive pressure, profits mainly relied on foreign wealth and high-end luxury goods. Most other companies experienced a sharp decline in profits, and some companies faced increased survival pressure. Due to the profitability of fuel vehicles, but with a rapid contraction; New energy vehicles have seen high growth, but have incurred significant losses and faced significant pressure from conflicts. Therefore, the central and various levels of government have stabilized automobile production, actively stabilized the consumption of fuel vehicles, and the overall situation of the automobile industry is stable and improving.

Ⅳ Summary

In March, the price of bearing steel in the market fluctuated and weakened, indicating a pessimistic sentiment among merchants. At present, the price difference between GCr15 and 45 # carbon bonded steel is gradually expanding, with some steel mills increasing the price difference from 400-500 yuan/ton to 600-700 yuan/ton. In terms of supply, the maintenance was completed in February, and the production of bearing steel increased, resulting in a slight accumulation of social inventory. In terms of demand, the market trading atmosphere in March has rebounded compared to February, but there is a significant gap compared to the same period last year. Mainly due to the slower than expected recovery of market demand, downstream demand is in a weak trend, steel mill profits are narrowing, and market prices are fluctuating. Overall, the market's optimistic expectation of a rebound in future demand still needs to be viewed with caution, and it is expected that the price of bearing steel in the market may fluctuate downward in April.

Apr.19 2024 Bearing Round Steel and Bar Steel Price in Major Steel Mills of China

19.Apr,2024

2024 China Bearing Round Steel Price from Different Steel Mills on Apr.19

19.Apr,2024

Apr.18 2024 Bearing Round Steel and Bar Steel Price in Major Steel Mills of China

18.Apr,2024

2024 China Bearing Round Steel Price from Different Steel Mills on Apr.18

18.Apr,2024

Apr.17 2024 Bearing Round Steel and Bar Steel Price in Major Steel Mills of China

17.Apr,2024

2024 China Bearing Round Steel Price from Different Steel Mills on Apr.17

17.Apr,2024

Apr.16 2024 Bearing Round Steel and Bar Steel Price in Major Steel Mills of China

16.Apr,2024

2024 China Bearing Round Steel Price from Different Steel Mills on Apr.16

16.Apr,2024

Apr.15 2024 Bearing Round Steel and Bar Steel Price in Major Steel Mills of China

15.Apr,2024

2024 China Bearing Round Steel Price from Different Steel Mills on Apr.15

15.Apr,2024

Apr.12 2024 Bearing Round Steel and Bar Steel Price in Major Steel Mills of China

12.Apr,2024

2024 China Bearing Round Steel Price from Different Steel Mills on Apr.12

12.Apr,2024

Apr.11 2024 Bearing Round Steel and Bar Steel Price in Major Steel Mills of China

11.Apr,2024

2024 China Bearing Round Steel Price from Different Steel Mills on Apr.11

11.Apr,2024

Apr.10 2024 Bearing Round Steel and Bar Steel Price in Major Steel Mills of China

10.Apr,2024

2024 China Bearing Round Steel Price from Different Steel Mills on Apr.10

10.Apr,2024

Apr.9 2024 Bearing Round Steel and Bar Steel Price in Major Steel Mills of China

9.Apr,2024

2024 China Bearing Round Steel Price from Different Steel Mills on Apr.9

9.Apr,2024

Apr.8 2024 Bearing Round Steel and Bar Steel Price in Major Steel Mills of China

8.Apr,2024

2024 China Bearing Round Steel Price from Different Steel Mills on Apr.8

8.Apr,2024

Apr.7 2024 Bearing Round Steel and Bar Steel Price in Major Steel Mills of China

7.Apr,2024

2024 China Bearing Round Steel Price from Different Steel Mills on Apr.7

7.Apr,2024

Apr.3 2024 Bearing Round Steel and Bar Steel Price in Major Steel Mills of China

3.Apr,2024

2024 China Bearing Round Steel Price from Different Steel Mills on Apr.3

3.Apr,2024

Apr.2 2024 Bearing Round Steel and Bar Steel Price in Major Steel Mills of China

2.Apr,2024

2024 China Bearing Round Steel Price from Different Steel Mills on Apr.2

2.Apr,2024

Apr.1 2024 Bearing Round Steel and Bar Steel Price in Major Steel Mills of China

1.Apr,2024