Bearing steel is to face severe situation in November
Resource from: CBCC Likes:175
Nov 25,2013
Overview: Looking back to domestic bearing steel market in October, the price of GCr15Φ50mm continuous casting non-annealed steel slightly fell, 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 4,811 yuan/ton, 33 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.
Due to the current weak economy, the performance of mechanical, automotive & boats and other downstream industries was still unsatisfactory. Bearing steel is expected to face severe situation in November.
I. Domestic Output Situation of Bearing Steel
From January to September in 2013, the domestic output of crude steel by major quality special steel producers was about 2.155 million ton, 1.1 % down compared with the same period last year; the bearing steel output of major quality special steel producers was 2.117 million ton, 0.5 % down compared with the same period last year. Wherein, for single month September, the output of bearing crude steel was 0.211 million ton, and that of bearing steel was 0.225 million ton.
Figure 1: Change in Domestic Output of Bearing Steel (crude steel) from 2012 to 2013
Table 1: Domestic Output of Crude Steel by Bearing Steel Manufacturers from January to September in 2013 (Unit: ton)
Seen from Table 1 that the top three for bearing steel output from January to September 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 October:
(i) The export volume of bearing steel from January to September in 2013 slightly fell
According to the statistical data released by the ten major domestic bearing steel manufacturers, the bearing steel export volume was 9,525 tons in September, 2013, down by 13.49 % on year-on-year basis; the export volume was increased compared with last year, with the cumulative export volume in the same period of 96,343 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 October
Bearing steel market price slightly fell in October, transactions remained poor, so trader had less in confidence in the market. The detailed situations of bearing steel markets across the country in October are as follows:
The bearing steel price in Hangzhou market slightly fell, and deal was light. Up to the end of October, the average knock-down price of standard GCr15 continuous casting non-annealed steel was from 4250 to 4550 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 October, 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 October, 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 7,800 yuan/ton.
As for Shenyang market, the price slightly fell, and the deal was poor. Up to the end of October, the average knock-down price of standard GCr15 continuous casting non-annealed steel was from 4250 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 October, the average price of GCr15Φ50mm continuous casting non-annealed steel in China was 4,811 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 in October in East China Bearing steel prices fell, individual steel material decreases significantly, the range generally about 50-100 yuan / ton, the market turnover is relatively weak, business inventory is still high, there is no obvious mills the idea of a limited production, the spot market pressures diminished.
III. The Bearing Steel Market is to operate in Vulnerable Consolidation:
1. Raw materials
The price of high chromium was stable in October, and the quoted price was around 6900 yuan/ton at the end of the month. Although the prices of iron ore and other raw materials showed a slight upward trend under the stimulation of swaps, the overall performance was not eye-catching.
2. Steel Mills
As of September this year, the crude bearing steel production has been basically flat with last year. In November 2013, the crude bearing steel production of domestic major steel companies was 2.155 million tons, very close to the figure (2.179 million tons) last year. According to statistics, 3 of the 17 domestic major bearing steel producers raised price in October, 7 of them cut the price, and the remaining 7 enterprises did not make any adjustment in price. According to the overall order situation of steel mills, the demand of direct supply customers is relatively stable, but the amount of trader agreement reduces monthly.
3. Markets
The overall performanceof bearing steel market was weak in October, and steel production was gradually enlarged, but no significant improvement was seen in market demand. Market price showed a decline trend in this consolidation process.
4. Market outlook
Based on the current situation, the steel ouput rises steadily, the overall demand is hard to improve, and the destocking speed is relatively slow. It is expected that bearing steel market is to remain in the consolidation trend in November with small possibility of rising in price, so the market environment is rather severe.
Table 1: Domestic Output of Crude Steel by Bearing Steel Manufacturers from January to September in 2013 (Unit: ton)
Seen from Table 1 that the top three for bearing steel output from January to September 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 October:
(i) The export volume of bearing steel from January to September in 2013 slightly fell
According to the statistical data released by the ten major domestic bearing steel manufacturers, the bearing steel export volume was 9,525 tons in September, 2013, down by 13.49 % on year-on-year basis; the export volume was increased compared with last year, with the cumulative export volume in the same period of 96,343 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 October
Bearing steel market price slightly fell in October, transactions remained poor, so trader had less in confidence in the market. The detailed situations of bearing steel markets across the country in October are as follows:
The bearing steel price in Hangzhou market slightly fell, and deal was light. Up to the end of October, the average knock-down price of standard GCr15 continuous casting non-annealed steel was from 4250 to 4550 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 October, 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 October, 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 7,800 yuan/ton.
As for Shenyang market, the price slightly fell, and the deal was poor. Up to the end of October, the average knock-down price of standard GCr15 continuous casting non-annealed steel was from 4250 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 October, the average price of GCr15Φ50mm continuous casting non-annealed steel in China was 4,811 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 in October in East China Bearing steel prices fell, individual steel material decreases significantly, the range generally about 50-100 yuan / ton, the market turnover is relatively weak, business inventory is still high, there is no obvious mills the idea of a limited production, the spot market pressures diminished.
III. The Bearing Steel Market is to operate in Vulnerable Consolidation:
1. Raw materials
The price of high chromium was stable in October, and the quoted price was around 6900 yuan/ton at the end of the month. Although the prices of iron ore and other raw materials showed a slight upward trend under the stimulation of swaps, the overall performance was not eye-catching.
2. Steel Mills
As of September this year, the crude bearing steel production has been basically flat with last year. In November 2013, the crude bearing steel production of domestic major steel companies was 2.155 million tons, very close to the figure (2.179 million tons) last year. According to statistics, 3 of the 17 domestic major bearing steel producers raised price in October, 7 of them cut the price, and the remaining 7 enterprises did not make any adjustment in price. According to the overall order situation of steel mills, the demand of direct supply customers is relatively stable, but the amount of trader agreement reduces monthly.
3. Markets
The overall performanceof bearing steel market was weak in October, and steel production was gradually enlarged, but no significant improvement was seen in market demand. Market price showed a decline trend in this consolidation process.
4. Market outlook
Based on the current situation, the steel ouput rises steadily, the overall demand is hard to improve, and the destocking speed is relatively slow. It is expected that bearing steel market is to remain in the consolidation trend in November with small possibility of rising in price, so the market environment is rather severe.
(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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