Weekly Review of Bearing Steel Market in China (May 17th to 21st, 2014)
Resource from: CBCC Likes:137
May 30,2014
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
[Weekly overview]
This week, the prices in bearing steel market remained stable, and the trading volume did not significantly enlarged. Up to Friday, the average price of continuous casting non-annealed steel nationwide was still 4858 yuan/ton, the average price of die-casting annealed steel is 7216 yuan/ton, and the prevailing quotations for continuous casting non-annealed steel from the second ranking steel plants in South China remains in the range of 4150 to 4500 yuan/ton.
[Raw materials]
1. Ores
On May 23, the port spot price of imported ores was in consolidation state, and buyers only procured based on demand. The average price of PB fines was 670-695 yuan, PB ores 775-805 yuan, Yandicoogina fines 605-625 yuan, Super special fines 570-590 yuan, and Brazil coarse particle ores 675-700 yuan.
On May 23, the price of iron powder in Tangshan was temporarily flat: the price of 66% wet basis was 710 yuan excluding tax in Qian'an; 66% wet basis was 685 yuan and 60 % wet basis was 595 yuan in Zunhua; 66% wet basis was 655 yuan in Qianxi.
2. Cokes
The price of 1409 coke fluctuated widely in weak trend, and was closed at 1148 yuan by midday, down by 0.43% compared with the settlement price; the price of 1409 coking coal also fluctuated widely, and was close at 817 yuan by midday, down 0.49% with the settlement price.
3. Steel billet
On May 23, the price of common carbon steel billet in Tangshan was steady, and the ex-factory price from major steel mills was 2800 yuan (cash and tax inclusive). On May 23, the directly sent price of billet steel in Tangshan was 2830 yuan; traders were reluctant to sell out, most of which did not offer price, and 2830 yuan might be the transaction price; finished sheets were poorly traded.
[Macroeconomic information]
Funding: With the slowdown in domestic economic growth and increase in the credit risk of some industries, the number of non-performing banking loans grew rapidly after entering 2014, especially in the first two months. The pressure on non-performing loans of banks remains this year, or may continue the trend of last year.
Investment: Recently, some media reports said the first batch of companies moving out of Beijing were 207 ones, mainly related to chemical (market area), building materials, foundry and other industries. At present the list of relocation companies has been sent to Tianjin, Hebei and other places. The relocation process is that Beijing provides the list of relocation enterprises for Tianjin, Hebei and other places to choose. Once the docking intent is determined, the local government and Beijing Municipal Development and Reform Commission will complete the docking. Since most of these companies are "three high and one low" Enterprise (high input, high energy consumption, high pollution and low efficiency), no docking has been made yet.
Consumption: according to the data released by the U.S. Federal Reserve Board on may 7th, the U.S. consumer credit growed rapidly in February, which gave a further evidence that the economy continues to recover. Data shows that the total U.S. consumer credit was approximately $ 3.13 trillion in February, showing an increase of 6.4% at an annual rate, faster than the revised 5.3 percent increase in January. The non-revolving credit for education, vacations and cars in February reached $ 2.28 trillion with an annual rate increase of 10.1%; the revolving credit spent for credit card consumption fell down to 854.2 billion dollars, with an annual rate of 3.4%. Consumer credit reflects the situation of U.S. personal consumption spending, while personal consumption expenditure accounts for about 70% of U.S. gross domestic product, which makes it the main engine of economic growth in the United States.
Data: the International Monetary Fund (IMF) released the 2014 global economic outlook report at 9:00 on May 8th. The organization said that the trend of global economic recovery started in 2013 is now becoming increasingly apparent, and expected the global economic growth to reach 3.6% in 2014 and 3.9% in 2015, which is greatly improvement compared with the same in 2013.
[Major Markets' Review]
[East China Region] This week, the bearing steel price in East China market remained stable in the weak trend, and the deal was still poor. Up to this weekend, the quotations in Hangzhou market are as follows: Xinye GCr15Φ50-70 non-annealed steel was 4,500 yuan/ton; Shanghai No.5 Steel Plant GCr15Φ26-70 heat-treated spheroidizing annealed steel was 7,100 yuan/ton; Xingcheng Steel GCr15Φ50 non-annealed steel was 5,050 yuan/ton, less stock; Nanjing Steel Group GCr15Φ16-40 heat-treated non-annealed steel was 4,500 yuan/ton; Dongbei Special Steel GCr15Φ30-95 hot-rolled non-annealed steel was 4,600 yuan/ton; Shougang Group GCr15Φ50 hot-rolled non-annealed steel was out of stock. This week, the bearing steel price in
Wuxi market was basically stable, 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 5,100 yuan/ton; Xinyegang Steel GCr15Φ30-50 continuous casting annealed steel was 5,000 yuan/ton; Beiman Steel GCr15Φ40-75 heat-treated annealed steel was 4,500 yuan/ton; Wuxi Huarun Steel GCr15Φ50-80 hot-rolled non-annealed steel was 4400 yuan/ton, less stock; Nanjing Steel GCr15Φ50 hot-rolled non-annealed steel was around 4,450 yuan/ton.
[Central South China Region] This week, 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 7,800 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 in short supply.
[North China Region] This week, Shenyang market remained weak, thinly traded. 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 4,050 yuan/ton, Benxi Steel GCr15Φ160-180 die-casting annealed steel was 5,600 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 4,500 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 4,500 yuan/ton.
[Southwest China Region] This week, the bearing steel price in Chengdu market was stable and the deal was light. 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 6,400 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 6,350 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.
[Forecast for the next week]
In summary, the recent performance of bearing steel market remains weaker, where the trading volume stays at low level, and no significant release of demand is either seen or expected in the short term. The bearing steel market is thus expected to continue the weak consolidation state next week.
(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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