Bearing steel price is unlikely to rise in October
Resource from: CBCC Likes:151
Oct 25,2013
Overview: Looking back to domestic bearing steel market in September, the price of GCr15Φ50mm continuous casting non-annealed steel was mainly stable, and the market were thinly traded. Up to the end of September, the average price of GCr15Φ50mm continuous casting non-annealed steel around China was 4,844 yuan/ton, 2 yuan increased per ton compared with the price at the end of previous month; the average price of GCr15Φ100mm continuous casting annealed steel was 8068 yuan/ton. Market performance was smooth this month, the strong confidence of steel mills in steel price rise failed to be very effectively communicated to the market, and most traders had no improvement in sales, thus mainly focused on destocking. Due to the current weak economy, the performance of mechanical, automotive & boats and other downstream industries was also unsatisfactory. Bearing steel price is hard to rise in October.
I. Domestic Output Situation of Bearing Steel
From January to August in 2013, the domestic output of crude steel by major quality special steel producers was about 1.944 million ton, 5.2 % down compared with the same period last year; the bearing steel output of major quality special steel producers was 1.892 million ton, 4.8 % down compared with the same period last year. Wherein, for single month August, the output of bearing crude steel was 0.262 million ton, and that of bearing steel was 0.241 million ton.
Figure 1: Change in Domestic Output of Bearing Steel (crude steel) from 2012 to 2013
Data Resource: Special Steel Association
Seen from Table 1 that the top three for bearing steel output from January to August in 2013 are still Zhongxin Special Steel (Xinye Steel and Xingcheng Special Steel), Dongbei Speical Steel and Juneng Steel. (for Sha Steel, only the yield of Huai Steel is counted; some modifications are made to the statistical method for calculating Baosteel's output). Among these 22 companies, the crude bearing steel ouput of 12 companies increased while 10 fell.
I. Performance of Domestic Bearing Steel Market in September:
(i) The export volume of bearing steel from January to August in 2013 slightly fell
According to the statistical data released by the ten major domestic bearing steel manufacturers, the bearing steel export volume was 8,216 tons in August, 2013, down by 3.86 % on year-on-year basis; the export volume has steadily increased from this period, with the cumulative export volume in the same period of 86,818 tons.
Figure 2: Bearing Steel Export Situation in Major Domestic Special Steel Enterprises from 2012 to 2013
Data Resource: MRI
The prices in bearing steel market slightly increased in September
Bearing steel market price slightly increased in September, transactions remained poor, so trader had less in confidence in the market. The detailed situations of bearing steel markets across the country in September are as follows:
The bearing steel price in Hangzhou market was stable, and transactions was improved. Up to the end of September, the average knock-down price of standard GCr15 continuous casting non-annealed steel was from 4350 to 4600 yuan/ton, and the average knock-down price of GCr15 die-casting annealed steel was between 7,600 and 8,000 yuan/ton.
The bearing steel price in Luoyang market was stable, and the deal was normal. Up to the end of September, the average knock-down price of standard GCr15 continuous casting non-annealed steel was from 4,550 to 4,700 yuan/ton, and the average knock-down price of GCr15 die-casting annealed steel was from 7,500 to 7,800 yuan/ton.
The bearing steel price in Xi'an market was stable, and the deal was normal. Up to the end of September, 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 7,700 yuan/ton.
As for Shenyang market, the price slightly increased, and the deal was poor. Up to the end of September, the average knock-down price of standard GCr15 continuous casting non-annealed steel was from 4350 to 4400 yuan/ton, and the spot goods of GCr15 die-casting annealed steel was insufficient.
According to the statistics from Mysteeel.com: up to the end of September, the average price of GCr15Φ50mm continuous casting non-annealed steel in China was 4,844 yuan/ton; the average price of GCr15Φ100mm die-casting annealed steel was 8,068 yuan/ton. (some modifications applied to the statistical method)
Table 2: Summary of Sales Price of Major Bearing Steel Manufacturers in East China (standard continuous casting non-annealed steel bar) Unit: yuan
Table 2 shows that the bearing steel price in East China was basically stable in September. Tough the price of some steel materials rebounded slightly, it was restrained in the range of 20-30 yuan/ton. Market turnover is relatively weak, inventories remained at high level, and downstream enterprises failed to have good performance according to the traditional empirical theory "gold September, silver October". Fortunately, steel mills orders are satisfied with their good order condition due to relatively stable customer demand, which also played a good supporting role to the market price.
III. The Bearing Steel Market is to operate in Vulnerable Consolidation:
1. Raw materials
The price of high chromium was stable in September, and the quoted price was around 6900 yuan/ton at the end of the month, dropped by 200 yuan/ton compared with the preceding month. The prices of iron ore, scrap steel, ferroalloy and other raw materials fell to some degree, the support of future cost to the market price is waning.
2. Steel Mills
Although the output this year is still declining as a whole, there was some recovery in August. From January to August in 2013, the output of crude bearing steel of domestic major special steel enterprises was 1.944 million tons, fell by 5.2% compared with last year. According to statistics, 5 of the 17 domestic major bearing steel producers raised price in September, 3 of them cut the price, and the remaining 9 enterprises did not make any adjustment in price. Steel mills are satisfied with their good order condition due to relatively stable customer demand, and have confidence in the market outlook.
3. Markets
The market performance in September showed no big improvement compared with August. The traditional empirical theory "gold September, silver October" has just some psychological impact on the market, and the dull situation can not meet traders' expectations at all. After the adjustment in August, steel mills somewhat restrained the willing of raising price, but they still have better confidence in the market outlook for good order condition due to relatively stable customer demand.
4. Market outlook
The bearing steel market showed a stable trend in September, and is expected to continue the trend of consolidation in October as conditions for price rise are not ready in the short term.
Data Resource: Special Steel Association
Seen from Table 1 that the top three for bearing steel output from January to August in 2013 are still Zhongxin Special Steel (Xinye Steel and Xingcheng Special Steel), Dongbei Speical Steel and Juneng Steel. (for Sha Steel, only the yield of Huai Steel is counted; some modifications are made to the statistical method for calculating Baosteel's output). Among these 22 companies, the crude bearing steel ouput of 12 companies increased while 10 fell.
I. Performance of Domestic Bearing Steel Market in September:
(i) The export volume of bearing steel from January to August in 2013 slightly fell
According to the statistical data released by the ten major domestic bearing steel manufacturers, the bearing steel export volume was 8,216 tons in August, 2013, down by 3.86 % on year-on-year basis; the export volume has steadily increased from this period, with the cumulative export volume in the same period of 86,818 tons.
Figure 2: Bearing Steel Export Situation in Major Domestic Special Steel Enterprises from 2012 to 2013
Data Resource: MRI
The prices in bearing steel market slightly increased in September
Bearing steel market price slightly increased in September, transactions remained poor, so trader had less in confidence in the market. The detailed situations of bearing steel markets across the country in September are as follows:
The bearing steel price in Hangzhou market was stable, and transactions was improved. Up to the end of September, the average knock-down price of standard GCr15 continuous casting non-annealed steel was from 4350 to 4600 yuan/ton, and the average knock-down price of GCr15 die-casting annealed steel was between 7,600 and 8,000 yuan/ton.
The bearing steel price in Luoyang market was stable, and the deal was normal. Up to the end of September, the average knock-down price of standard GCr15 continuous casting non-annealed steel was from 4,550 to 4,700 yuan/ton, and the average knock-down price of GCr15 die-casting annealed steel was from 7,500 to 7,800 yuan/ton.
The bearing steel price in Xi'an market was stable, and the deal was normal. Up to the end of September, 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 7,700 yuan/ton.
As for Shenyang market, the price slightly increased, and the deal was poor. Up to the end of September, the average knock-down price of standard GCr15 continuous casting non-annealed steel was from 4350 to 4400 yuan/ton, and the spot goods of GCr15 die-casting annealed steel was insufficient.
According to the statistics from Mysteeel.com: up to the end of September, the average price of GCr15Φ50mm continuous casting non-annealed steel in China was 4,844 yuan/ton; the average price of GCr15Φ100mm die-casting annealed steel was 8,068 yuan/ton. (some modifications applied to the statistical method)
Table 2: Summary of Sales Price of Major Bearing Steel Manufacturers in East China (standard continuous casting non-annealed steel bar) Unit: yuan
Table 2 shows that the bearing steel price in East China was basically stable in September. Tough the price of some steel materials rebounded slightly, it was restrained in the range of 20-30 yuan/ton. Market turnover is relatively weak, inventories remained at high level, and downstream enterprises failed to have good performance according to the traditional empirical theory "gold September, silver October". Fortunately, steel mills orders are satisfied with their good order condition due to relatively stable customer demand, which also played a good supporting role to the market price.
III. The Bearing Steel Market is to operate in Vulnerable Consolidation:
1. Raw materials
The price of high chromium was stable in September, and the quoted price was around 6900 yuan/ton at the end of the month, dropped by 200 yuan/ton compared with the preceding month. The prices of iron ore, scrap steel, ferroalloy and other raw materials fell to some degree, the support of future cost to the market price is waning.
2. Steel Mills
Although the output this year is still declining as a whole, there was some recovery in August. From January to August in 2013, the output of crude bearing steel of domestic major special steel enterprises was 1.944 million tons, fell by 5.2% compared with last year. According to statistics, 5 of the 17 domestic major bearing steel producers raised price in September, 3 of them cut the price, and the remaining 9 enterprises did not make any adjustment in price. Steel mills are satisfied with their good order condition due to relatively stable customer demand, and have confidence in the market outlook.
3. Markets
The market performance in September showed no big improvement compared with August. The traditional empirical theory "gold September, silver October" has just some psychological impact on the market, and the dull situation can not meet traders' expectations at all. After the adjustment in August, steel mills somewhat restrained the willing of raising price, but they still have better confidence in the market outlook for good order condition due to relatively stable customer demand.
4. Market outlook
The bearing steel market showed a stable trend in September, and is expected to continue the trend of consolidation in October as conditions for price rise are not ready in the short term.
(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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