Bearing steel market is to operate in a stable uptrend in March
Resource from: CBCC Likes:265
Mar 20,2013
Overview: Looking back to the domestic bearing steel market in February, the price of GCr15Φ50mm continuous casting non-annealed steel further increased, and the turnover was firstly rose and then fell. Up to the end of February, the average price of GCr15Φ50mm continuous casting non-annealed steel around China was 5,087 yuan/ton, 125 yuan up per ton compared with the price at the end of previous month; and the average price of GCr15Φ100mm continuous casting annealed steel was 8068 yuan/ton (some modifications applied to the statistical method).
The bearing steel market had a good start in February. The upward trend was obvious, but the market demand was still weak as downstream customers generally got back to work later this year, forming a "false" uptrend. Steel mills raised the ex-factory price significantly, which downstream customers felt difficult to accept. The bearing steel price is expected to have limitted upside in March, and operate in a steady upward pattern as a whole.
The price in bearing steel market increased in February
The price in bearing steel market rose in February, but the turnover situation was not good due to the low operating rate of downstream factories and little procurement willingness. The detailed situations of bearing steel market across the country in February are as follows:
The bearing steel price in Hangzhou market increased, and the market transactions were normal. Up to the end of February, the average knock-down price of standard GCr15 continuous casting non-annealed steel was from 4,850 to 5,100 yuan/ton, and the average knock-down price of GCr15 die-casting annealed steel was between 7,600 and 8,100 yuan/ton.
The bearing steel price in Luoyang market increased and the deal was normal. Up to the end of February, the average knock-down price of standard GCr15 continuous casting non-annealed steel was from 4,750 to 5,000 yuan/ton, and the average knock-down price of GCr15 die-casting annealed steel was from 7,500 to 7,900 yuan/ton.
The bearing steel price in Xi'an market also increased and the deal was normal. Up to the end of February, the spot goods of standard GCr15 continuous casting non-annealed steel was relatively insufficient, and the average knock-down price of GCr15 die-casting annealed steel was around 7,750 yuan/ton.
As for Shenyang market, the price rose, and the deal was relatively good. Up to the end of February, the average knock-down price of standard GCr15 continuous casting non-annealed steel was from 4750 to 4950 yuan/ton, and the spot goods of GCr15 die-casting annealed steel was insufficient.
Figure 1: Average Price Trend of Domestic Bearing Steel from 2012 to 2013
Data Resource: Mysteel
According to the statistics from Mysteeel.com: up to the end of February, 2013, the average price of GCr15Φ50mm continuous casting non-annealed steel in China was 5,087 yuan/ton; the average price of GCr15Φ100mm die-casting annealed steel was 8,068 yuan/ton. (some modifications applied to the statistical method)
Table 1: Summary of Sales Price of Major Bearing Steel Manufacturers in East China (standard continuous casting non-annealed steel bar) Unit: yuan
Table 1 shows that the bearing steel prices in East China rose sharply in February, mainly in the range of 200-300 yuan/ton. This was mainly because that traders wanted to make a good start in the new year, and the actual transaction performance was not as gratifying as the price trend.
III. The Bearing Steel Market is to operate in Vulnerable Consolidation:
1. Raw materials
The price of high chromium fell in February, and the quoted price was around 7700 yuan/ton at the end of the month, 200 yuan/ton decreased compared with last month.
Figure 2: Average Price Trend of Domestic High Carbon Ferrochrome from 2012 to 2013
Data Resource: Mysteel
2. Market Outlook
On the whole, the operating environment of steel industry in 2013 is better than in 2012, and the demand for steel is to have some growth. However, the difficulties and challenges facing in 2013 should not be underestimated:
First, the demand growth in downstream industry remains flat, so steel consumption is difficult to have substantial growth; second, steel capacity expansion has not been effectively curbed, thus the oversupply situation will not change; third, the high cost of original fuel is not easy to change, which causes difficulty in the formation of a fair and transparent order in imported iron ore market; fourth, highly competitive product homogeneity poses obstacles to solve the unhealthy competition among enterprises, and the establishment of the industry fair competition order need the government to further deepen the reform.
The bearing steel output rebounded in the fourth quarter in 2012, and based on the current trend in bearing steel market, the output in the first quarter of 2013 will also increase compared with that in the first quarter of 2012. The export volume basically showed a rising trend in the second half of 2012, and the export aspect of bearing steel market is expected to have a better effect on the domestic supply. The small rebound appeared at the end of last year may guide the market situation in the first half of 2013. However, the supporting role of raw material to the market price is not so significant, and downstream demand was still weak. In general, the overall environment in 2013 is getting better, and the bearing steel industry is to see a better development.
The bearing steel price is expected to have limitted upside in March, and operate in a steady upward pattern as a whole.
Data Resource: Mysteel
According to the statistics from Mysteeel.com: up to the end of February, 2013, the average price of GCr15Φ50mm continuous casting non-annealed steel in China was 5,087 yuan/ton; the average price of GCr15Φ100mm die-casting annealed steel was 8,068 yuan/ton. (some modifications applied to the statistical method)
Table 1: Summary of Sales Price of Major Bearing Steel Manufacturers in East China (standard continuous casting non-annealed steel bar) Unit: yuan
Table 1 shows that the bearing steel prices in East China rose sharply in February, mainly in the range of 200-300 yuan/ton. This was mainly because that traders wanted to make a good start in the new year, and the actual transaction performance was not as gratifying as the price trend.
III. The Bearing Steel Market is to operate in Vulnerable Consolidation:
1. Raw materials
The price of high chromium fell in February, and the quoted price was around 7700 yuan/ton at the end of the month, 200 yuan/ton decreased compared with last month.
Figure 2: Average Price Trend of Domestic High Carbon Ferrochrome from 2012 to 2013
Data Resource: Mysteel
2. Market Outlook
On the whole, the operating environment of steel industry in 2013 is better than in 2012, and the demand for steel is to have some growth. However, the difficulties and challenges facing in 2013 should not be underestimated:
First, the demand growth in downstream industry remains flat, so steel consumption is difficult to have substantial growth; second, steel capacity expansion has not been effectively curbed, thus the oversupply situation will not change; third, the high cost of original fuel is not easy to change, which causes difficulty in the formation of a fair and transparent order in imported iron ore market; fourth, highly competitive product homogeneity poses obstacles to solve the unhealthy competition among enterprises, and the establishment of the industry fair competition order need the government to further deepen the reform.
The bearing steel output rebounded in the fourth quarter in 2012, and based on the current trend in bearing steel market, the output in the first quarter of 2013 will also increase compared with that in the first quarter of 2012. The export volume basically showed a rising trend in the second half of 2012, and the export aspect of bearing steel market is expected to have a better effect on the domestic supply. The small rebound appeared at the end of last year may guide the market situation in the first half of 2013. However, the supporting role of raw material to the market price is not so significant, and downstream demand was still weak. In general, the overall environment in 2013 is getting better, and the bearing steel industry is to see a better development.
The bearing steel price is expected to have limitted upside in March, and operate in a steady upward pattern as a whole.
(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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