Chinese Bearing Steel Market Remains Firm-Bearing News

China Industrial News reported that bearing steel price has been spiraling on a high track upon robust domestic demand since the start of this year. According to statistics, crude steel for bearing steel making rose by 29.0% YOY to some 1.14 million tonnes in the first five months, the output of bearing steel products gained 32.7% YOY to 1.06 million tonnes. Analysts believe that the market will remain the current behavior in the second half of the year. As data showed, China exported 72.02 tonnes of bearing steel in May, a mild increase of 85 tonnes from April and 2380 tonnes more than last May.

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