Roundup of August Bearing Steel Market in China
Resource from: CBCC Likes:3060
Sep 05,2006
Roundup of August Bearing Steel Market in China
July and August are the traditional off-season of automobiles sales, leading to lower output, which have a negative impact on sales of bearings for automobile and that of bearing steel.
INVENTORY
In the passing month, price of various steel products kept plummeting, influencing purchasing initiative of distributors. In most regions of China, inventory of steel mills increased significantly as a result of the decreasing orders they received. In Beijing, inventory of Shougang Steel Group has reached 400 tons.
Steel Mills
Having gone through adjusting over 4 months, domestic market of common bearing steel have been dominated by Zhengzhou Yongtong, Jiangsu Xigang Group, Beiman Special Steel and Shijiazhuang Iron & Steel, of which Shijiazhuang Iron & Steel swiftly seized domestic low-end market relying on their lower production cost and the favourable user channel produced by their cooperation with Xingcheng Special Steel.
Additionally, Suzhou Steel Group has showed their intention to enter bearing steel market, announcing to begin mass production of bearing steel from October on. The company said their first batch of bearing steel would be equivalent to those of Shijiazhuang Iron & Steel in quality. Then, competition in bearing steel market will be much more fierce.
PRICE
In August, price of bearing steel were stable with a trend of slight decrease. In Shandong province, distributors of bearing steel made by Laiwu Steel Group cut their retail price by 50yuan/ton to lighten their pressure. In Henan province, price of bearing steel made by Zhengzhou Yongtong were also cut by 50 to 60yuan/ton.
In Hangzhou, due to the increasing cost of raw material and transportation, price of bearing steel made by Xi'ning Special Steel, Qinghai province, were increased by 110yuan/ton. For the fixed sales channel, the price increase produced no negative impact to their deal volume.
During August, average price of common bearing steel (GCr15) in major regions of China were fluctuated between 3946 and 4139yuan/ton; those of anneal bearing steel were between 5678 and 5928yuan/ton.
It is estimated that price of bearing steel will be increased slightly from late Sept.
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