Weekly Review of Bearing Steel Market in China (Nov 23rd to 29th, 2013)
Resource from: CBCC Likes:153
Dec 17,2013
Note:(yuan/ton)
1) HR: hot rolled steel,diameter 50 mm
2) A: anneal rolled steel,diameter 100 mm
Region code
SH: Shanghai
HZ: Hangzhou, Zhejiang province
WX: Wuxi, Jiangsu province
CZ: Changzhou, Jiangsu province
CS: Changsha, Hunan province
WH: Wuhan, Hubei province
LY: Luoyang, Henan province
LW: Laiwu, Shandong province
CQ: Chongqing
CD: Chengdu, Sichuan province
XA: Xi'an, Shaanxi province
TJ: Tianjin
SY: Shenyang, Liaoning province
HRB: Harbin, Heilongjiang province
[Overview]
The bearing steel market remains in consolidation this week, thinly traded. As the price in dominant fringe market is weakening on a stable basis, the offer price of bearing steel is basically stable in each region. However, the market turnover has decreased activity, so traders' volume of goods arrived is not much, resulting stability of the overall inventory level. Since the snowy weather is to gradually flood the country, there will be less outdoor projects under construction, which is undoubtedly the biggest obstacle to the current price trend of steel building materials, and the bearing steel market will also be affected. Although social stock fell for six consecutive weeks, the base is still at a higher position, so may not contribute to the rise in steel price. Besides, the inventory ratios of key steel enterprises has rebounded. As the price difference spreads in the north and the south market, northern steel mills will make efforts to increase resources southward. As resources gradually enter the south market, the pressure on sales will further increase, which will depress the steel price. Up to Friday, the average price of continuous casting non-annealed steel nationwide was still 4808 yuan/ton, 3 yuan/ton down and the prevailing quotations for continuous casting non-annealed steel from the second ranking steel plants in South China remains in the range of 4200 to 4550 yuan/ton. The average price of die-casting annealed steel is 8054 yuan/ton.
[Raw material]
Domestic concentrate iron powder market runs smoothly as a whole. Currently, the ex-factory price (excluding tax) of 66% concentrate iron powder wet basis in Zunhua, Tangshan, is 845-855 yuan/ton; cash ex-factory price (tax) 65% iron powder dry basis in Chengde is 990 yuan/ton. Imported ore market moves in a range bound pattern, while spot markets are mediocre. Futures price shows a consolidation trend, and the market demand for futures is relatively good. The demand in spot markets is weak. Domestic pig iron market runs steadily, and the deal is in general. DRI market is weak on a stable basis, and spot market turnover shows no improvement. The offer prices of all varieties remains basically unchanged from last week. Scrap steel market operates in steady consolidation state, thinly traded. Due to lack of confidence in the market outlook, manufacturers are not eager to do anyting to make change, and as it is close to the end of the month, there is still no big change in the scrap market. Tangshan billet market operates in shock consolidation, with the overall price falling down 10 yuan/ton. Common alloys and special alloys markets remain stable in the weak trend, where the deal is in general. PCI coal market runs smoothly. Anthracite market maintains good situation, where the coal price is temporarily stable. Thermal coal market shows a continuous steady rise in price, thus the market is generally expected to be bullish. Coking coal market operates in steady trend this week. Affected by price adjustment of Yanzhou Mining Group, market prices in Shandong Province generally rise in recent weeks, while there is no significant price fluctuation in other regions. Imported coal market runs stably in the upward trend, thermal coal market rebounds more than expected, and the metallurgical coal price is steady. Coke market runs stably. The offer price has no big change at the end of the month in all regions, downstream demand remains at a stable level during the winter storage period, and the market turnover improves.
[Macroeconomic information]
Funds: The Ministry of Finance announced on November 27th, 2013 the decision of the first continuous issue of interest-bearing book-entry (Issue 23) national debt of 2013 year.The interest-bearing book-entry (Issue 23) national debt of 2013 year is 5 year fixed rate bonds, with remaining period of 4.95 years for now. The interest will be generated from November 7, 2013. Coupon rate is 4.13%. Annual interest: interest will be paid annually on November 7 (in case of holiday, it shall be postponed to the first work day following the holiday; the same below); the principal and interest will be repayed for the last time in 2018. The the date of issue, the payment arrangement, coupon rate, transaction and depository manners in this issue are the same as the original issue.
Investment: The Ministry of Finance disclosed on Tuesday that the Ministry of Finance, Ministry of Science, Ministry of Industry and Information Technology and National Development and Reform Commission recently organized a group of experts to carry out review and evaluation of the new energy vehicle application promotion program, and finnaly 28 cities/regions were confirmed as the first batch of pilot cities, including Beijing, Tianjin, Taiyuan, Jincheng, Dalian, Shanghai, etc.
Consumption: the National Development and Reform Commission issued a notice on 28th, 2013, which disclosed the decision to raise the prices of gasoline and diesel to respectively 160 yuan/ton and 155 yuan/ton, and estimated retail prices of No. 90 gasoline and No. 0 diesel (average nationwide) to 0.12 yuan/liter and 0.13 yuan/liter, with the execution time of price adjustment at 24 p.m. November 28, 2013. According to the National Development and Reform Commission, the oil price adjustment is made in accordance with the current oil price formation mechanism, and based on the average price change during the first 10 working days by the end of November 28 in the international market. Since mid-November, oil price in the international market has been rising in shock affected by the increase in oil demand in winter and other factors.
Data: According to the data released by the National Bureau of Statistics, from January to October, the industrial enterprises above designated size realizes a total profit of 4.62632 trillion yuan, with an increase of 13.7% over the same period last year, and the growth rate 0.2 percentage points higher than in first 9 months; profit from principal activities is 4.68842 trillion yuan, with an increase of 5.4% growth, and the growth rate 0.1 percentage points higher. Wherein, the total profit in October is 581.04 billion yuan, up 15.1% over last year, and the growth rate down 3.3 percentage points compared with September, and 1.6 percent higher than the same from January to September; the profit from principal activities is 566.9 billion yuan, with an increase of 6%, the growth rate down 1.5 percentage points than in September, higher than 0.7 percentage points in the first months.Yu Jianxun, serving in the Industrial Division under National Bureau pointed out, from January to October, among 41 major categories of industrial sectors, 35 sectors' gross profit shows year-on-year growth, indicating a ratio of nearly 90%.
[East China Region] This week, the bearing steel price in East China market was stable, and the turnover was ordinary. Up to this weekend, the quotations in Hangzhou market are as follows: Xinye GCr15Φ50-70 non-annealed steel was 4,400 yuan/ton; Echeng Steel GCr15Φ30-75 heat-treated non-annealed steel was 4200 yuan/ton; Shanghai No.5 Steel Plant GCr15Φ26-70 heat-treated spheroidizing annealed steel was 7,300 yuan/ton; Xingcheng Steel GCr15Φ50 non-annealed steel was 5,200 yuan/ton, less stock; Nanjing Steel Group GCr15Φ16-40 heat-treated non-annealed steel was 4,400 yuan/ton; Dongbei Special Steel GCr15Φ30-95 hot-rolled non-annealed steel was 4,550 yuan/ton; Shougang Group GCr15Φ50 hot-rolled non-annealed steel was out of stock. This week, the bearing steel price in Wuxi market slightly declined, and the turnover was ordinary. Up to this weekend, the quotations in Wuxi market are as follows: Xingcheng Steel GCr15Φ30-75 hot-rolled non-annealed steel was 5,200 yuan/ton; Xinyegang Steel GCr15Φ30-50 continuous casting annealed steel was 5200-5,250 yuan/ton; Beiman Steel GCr15Φ40-75 heat-treated annealed steel was 5250-5,300 yuan/ton; Wuxi Huarun Steel GCr15Φ50-80 hot-rolled non-annealed steel was 4450 yuan/ton, less stock; Nanjing Steel GCr15Φ50 hot-rolled non-annealed steel was around 4,450 yuan/ton; Dongbei Special Steel GCr15Φ40-75 hot-rolled non-annealed steel was 4600 yuan/ton.
[Central South China Region] This week, the bearing steel price in Luoyang market remained stable, thinly traded. Up to this weekend, the quotations in Luoyang market are as follows: Shijiazhuang Steel GCr15Φ16-50 heat-treated annealed steel was 5,550 yuan/ton and the GCr15Φ16-30 continuous casting non-annealed steel was 4,750 yuan/ton; Xinyegang Steel GCr15Φ50-130 die-casting non-annealed steel was 7,700 yuan/ton, out of stock; Changcheng Special Steel GCr15Φ45 continuous casting annealed steel was 5,550 yuan/ton, out of stock, and the die-casting non-annealed steel was 4,600 yuan/ton; Xining Steel GCr15Φ25-70 continuous casting non-annealed steal was 4,750 yuan/ton. This week, the bearing steel price in Wuhan market was also stable, and the turnover was ordinary. Echeng Steel GCr15Φ14-30 continuous casting non-annealed steel was 4,600 yuan/ton; Xinyegang Steel GCr15Φ80-110 continuous casting non-annealed steel was 5,150 yuan/ton, GCr15Φ40-75 continuous casting non-annealed steel was 5,100 yuan/ton, and the die-casting annealed steel was 7,550 yuan/ton.
[North China Region] This week, the bearing steel price in Shenyang market fell, and the market transaction was ordinary. Up to this weekend, Dongbei Special Steel GCr15Φ25-60 continuous casting non-annealed steel was 4,500 yuan/ton, out of stock; Benxi Steel Φ90-120 continuous casting steel was 4,100 yuan/ton, Benxi Steel GCr15Φ160-180 die-casting annealed steel was 6,600-6,650 yuan/ton. This week, the bearing steel price in Harbin market was flat, and the deal was common. Benxi Steel GCr15Φ20-75 heat-treated annealed steel was 6,500 yuan/ton, out of stock; Dongbei Special Steel GCr15Φ50 heat-treated annealed steel was out of stock; Dongbei Special Steel GCr15Φ40-75 continuous casting non-annealed steel was 4,550 yuan/ton.
[Southwest China Region] This week, the bearing steel price in Chengdu market was stable and the market resources were not sufficient. Up to this weekend, Xinyegang Steel GCr15Φ50 continuous casting non-annealed steel was 4950 yuan/ton, Changcheng Steel GCr15Φ80-130 continuous casting annealed steel was 6,350 yuan/ton; Xining Steel Φ150-200 die-casting annealed steel was 7,800 yuan/ton, out of stock; Xining Steel GCr15Φ30-75 continuous casting annealed steel was 6,300 yuan/ton, less stock. This week, the bearing steel price in Chongqing market remained stable. Donghua Special Steel GCr15Φ20-30 heat-treated annealed steel was out of stock; Xining Steel Φ80-120 rolled annealed steel was 6,350 yuan/ton, out of stock; Changcheng Steel GCr15Φ40-65 continuous casting non-annealed steel was 5,100 yuan/ton; Xining Steel Φ80-150 forged annealed steel was 7,500 yuan/ton, less stock.
[Prediction on next week's market]
Based on current market situation, the positive aspects: Steel industry is currently facing pressure from many policies concerning environmental governance, eliminating of backward production capacity, etc.; domestic steel mills have entered the maintenance period in the fourth quarter of the year, crude steel production is expected to release at low level, steel supply pressure will be weakened. The negative aspects: According to the latest data released by CISA, the crude steel output of key enterprises in early November is 1.763 million tons, with an increase of 3.5% qoq, and the estimated output is 2.144 million tons, with an increase of 2.2% qoq. Thus it can be seen that the high level of current average daily steel production is still difficult to change though the market is under environmental pressures and reinforced supervision. With the approaching of the end of year, the market funds is tight as a whole, and funding pressures could become a major factor in weaker steel market price. However, bearing steel market weak may continue the consolidation trend 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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