Bearing Steel Market in China will still Operate in Weakness in November 2011
Resource from: CBCC Likes:3041
Nov 14,2011
Summary: Look back to the bearing steel market in October, the price for GCr15 continued to keep the decline trend of last month, and the overall market still operated in weakness. Up to the end of October, the national average price of GCr15 continuous casting non-annealed steel of 50mm was 6,132 yuan/ton, dropped about 139.3 yuan/ton compared with the price in last month; the national average price of GCr15 die-casting annealed steel of 100mm was 7,803 yuan/ton, dropped 89.3 yuan/ton. The overall steel market was under the condition of weakness in October, meanwhile the market deal was light, especially for south regions, price dropped about 200 yuan/ton. It is estimated that bearing steel market in November will still operate in weakness, meanwhile the price may continue to drop.
Firstly、The domestic production situation of bearing steel
The domestic production capability of bearing steel crude steel was about 2.707 million tons from January to September in 2011, increased by 12.2% compared with the same period of last year; the output of bearing steel was 2.533 million tons, rose by 10.9% compared with the same period of last year. In September, the output of bearing steel crude steel was 353,000 tons, meanwhile the output of bearing steel was 326,000 tons.
Picture One: The national bearing steel (crude steel) production situation from January to September from 2010 to 2011
Data Resource: MRI
It is learned from Picture 1 that the output of bearing steel significantly increased in September 2011, while dropped to certain extent compared with the same period of last year, it was the second time to drop in this year.
Table One: The national crude steel production situation in bearing steel manufacturers from January to September in 2011 (Unit: ton)
From Table One, we can saw that the first three for bearing steel output from January to September in 2011 were Zhongxin Special Steel (Xinye Steel and Xingcheng Special Steel ), Dongbei Speical Steel and Juneng Steel, ranks for other steel plant slightly changed. (Sha Steel just counted the yield of Huai Steel)
Secondly、Bearing Steel Market Performance in October
The price of bearing steel dropped with weakness in October, and the overall price greatly decreased, while price in southern regions declined 200 yuan/ton. On the other hand, the market demand was weak which has further promoted the price declining. The market inventory slightly improved, and the overall condition was not positive. The specific condition of bearing steel in the domestic various regions in this month were as follows:
Hangzhou Market: the price in this region significantly dropped in October with the bad market deal. Up to the end of October, the average transaction price of small size GCr 15 (continuous casting non-annealed steel) was between 5,650 yuan/ton and 5,750 yuan/ton, and the GCr15 die-casting annealed steel was between 7,600 yuan/ton and 7,700 yuan/ton.
Luoyang Market: the price in this region declined with the common market deal. Up to the end of October, the average transaction price of small size GCr 15 (continuous casting non-annealed steel) was between 6,100 yuan/ton and 6,150 yuan/ton, and the GCr15 die-casting annealed steel was about 7,700 yuan/ton.
Xi'an Market: the price in this region decreased with weakness, meanwhile the market deal was common. Up to the end of October, the average transaction price of small size GCr 15 (continuous casting non-annealed steel) was not sufficient, and the GCr15 die-casting annealed steel was between 7,700 yuan/ton and 7,750 yuan/ton.
Picture Two: Average price trend for the domestic bearing steel from 2009 to 2011
Data Resource: MRI
According to the statistics from Mysteeel.com: up to the end of October, the national average price of GCr15 continuous casting non-annealed steel of 50mm was 6,132 yuan/ton; the national average price of GCr15 die-casting annealed steel of 100mm was 7,804 yuan/ton.
Table Two: Sales price summary of bearing steel manufacturers in East China (standard continuous casting non-annealed steel bar ) unit: yuan/ton
From Table Two, the bearing steel price in East China significantly dropped in October with the weak overall market, meanwhile the delivery was light, and the price was difficult to be supported. At the same time, it was still has the decline trend in the market.
Thirdly、The price of bearing steel for the post market weakly adjusted
1.In the aspect of raw material, the price for high-chrome in October dropped to 8,050 yuan/ton, declined about 250 yuan/ton compared with the price in last month. Besides, the price for iron ore, pig iron, scrap steel and other raw material was also weak, which has formed certain impact on steel plant market.
Picutre Three: The chart for the average price of domestic high-carbon ferrochrome from 2010 to 2011
Data Resource: MRI
2. As for steel plant, it has reduced the delivery price of bearing steel in October while it could not satisfied the market. For the output, the production in September was not strong, it was the fifth months for the output to continuouly dropped, so the estimate was much pessimism for the post market by steel plant.
3. For downstream users, the market demand for bearing steel in this month was low, it did not cause the purchasing desire for downstream enterprises, thus it has shown the disappointed market within the traditional sales season.
4. For market, most of merchants said that they encounted difficulties in delivery, the overall inventory slightly improved, so they sold at a low price, which did not bring promotion for the market deal. Though the current domestic and international economic situation was much better, yet it did not influence the market acually, the reduce for steel plant production could release the pressure of stock market, but it also showed the pessimisitic attitude for post market.
In summary, bearing steel weakly adjusted for the post market, the decline trend still existed, while the it may not significantly dropped.
Data Resource: MRI
It is learned from Picture 1 that the output of bearing steel significantly increased in September 2011, while dropped to certain extent compared with the same period of last year, it was the second time to drop in this year.
Table One: The national crude steel production situation in bearing steel manufacturers from January to September in 2011 (Unit: ton)
From Table One, we can saw that the first three for bearing steel output from January to September in 2011 were Zhongxin Special Steel (Xinye Steel and Xingcheng Special Steel ), Dongbei Speical Steel and Juneng Steel, ranks for other steel plant slightly changed. (Sha Steel just counted the yield of Huai Steel)
Secondly、Bearing Steel Market Performance in October
The price of bearing steel dropped with weakness in October, and the overall price greatly decreased, while price in southern regions declined 200 yuan/ton. On the other hand, the market demand was weak which has further promoted the price declining. The market inventory slightly improved, and the overall condition was not positive. The specific condition of bearing steel in the domestic various regions in this month were as follows:
Hangzhou Market: the price in this region significantly dropped in October with the bad market deal. Up to the end of October, the average transaction price of small size GCr 15 (continuous casting non-annealed steel) was between 5,650 yuan/ton and 5,750 yuan/ton, and the GCr15 die-casting annealed steel was between 7,600 yuan/ton and 7,700 yuan/ton.
Luoyang Market: the price in this region declined with the common market deal. Up to the end of October, the average transaction price of small size GCr 15 (continuous casting non-annealed steel) was between 6,100 yuan/ton and 6,150 yuan/ton, and the GCr15 die-casting annealed steel was about 7,700 yuan/ton.
Xi'an Market: the price in this region decreased with weakness, meanwhile the market deal was common. Up to the end of October, the average transaction price of small size GCr 15 (continuous casting non-annealed steel) was not sufficient, and the GCr15 die-casting annealed steel was between 7,700 yuan/ton and 7,750 yuan/ton.
Picture Two: Average price trend for the domestic bearing steel from 2009 to 2011
Data Resource: MRI
According to the statistics from Mysteeel.com: up to the end of October, the national average price of GCr15 continuous casting non-annealed steel of 50mm was 6,132 yuan/ton; the national average price of GCr15 die-casting annealed steel of 100mm was 7,804 yuan/ton.
Table Two: Sales price summary of bearing steel manufacturers in East China (standard continuous casting non-annealed steel bar ) unit: yuan/ton
From Table Two, the bearing steel price in East China significantly dropped in October with the weak overall market, meanwhile the delivery was light, and the price was difficult to be supported. At the same time, it was still has the decline trend in the market.
Thirdly、The price of bearing steel for the post market weakly adjusted
1.In the aspect of raw material, the price for high-chrome in October dropped to 8,050 yuan/ton, declined about 250 yuan/ton compared with the price in last month. Besides, the price for iron ore, pig iron, scrap steel and other raw material was also weak, which has formed certain impact on steel plant market.
Picutre Three: The chart for the average price of domestic high-carbon ferrochrome from 2010 to 2011
Data Resource: MRI
2. As for steel plant, it has reduced the delivery price of bearing steel in October while it could not satisfied the market. For the output, the production in September was not strong, it was the fifth months for the output to continuouly dropped, so the estimate was much pessimism for the post market by steel plant.
3. For downstream users, the market demand for bearing steel in this month was low, it did not cause the purchasing desire for downstream enterprises, thus it has shown the disappointed market within the traditional sales season.
4. For market, most of merchants said that they encounted difficulties in delivery, the overall inventory slightly improved, so they sold at a low price, which did not bring promotion for the market deal. Though the current domestic and international economic situation was much better, yet it did not influence the market acually, the reduce for steel plant production could release the pressure of stock market, but it also showed the pessimisitic attitude for post market.
In summary, bearing steel weakly adjusted for the post market, the decline trend still existed, while the it may not significantly dropped.
(CBCC)
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1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"CBCC".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.
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