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Roundup of Bearing Steel Market in China October

Resource from:  CBCC Likes:3068
Nov 06,2006
Roundup of Bearing Steel Market in China October After the Golden Week Holiday at the beginning of October, bearing steel market remain gloomy. Price and deal volume stay in a lower level as it was last month. Distributors can but tolerate the present situation as they can not afford to practice any price reduction on the existing modest profit. As it was said by the distributors, there is no force to drive the market. It will be so hard to see growth in deal volume, even the steel makers raise their wholesale price deliberately. All distributors pointed that it is the limited demand of endusers that affect deal volume. It is generally recognized that price keeping in a lower level will remain unchanged in following days, unless the fundamental problem can be solved. Steel Makers At present, steel makers are striving for stable price level, hoping price may stop falling. Different from the distributors, they believe surplus capacity is the major cause for the recession in bearing steel market. Before obvious growing demand for bearing steel, increasing number of steel makers plunge into production of bearing steel. As a result, distributors may purchase from more sources, causing the decreasing quantity for every single deal, which might produce the illusion of limited demand of endusers. Price In October, average price of common bearing steel (GCr15) in major regions of China were 4121 yuan/ton; those of anneal bearing steel were 5642 yuan/ton.
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