Weekly Review of Bearing Steel Market in China (Oct 12th to 17th, 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
This week, bearing steel market was still in weak downstream, trading in general, and traders mainly had no stocks. Up to Friday, the average price of continuous casting non-annealed steel nationwide was 4841 yuan/ton, the average price of die-casting annealed steel is 7212 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 Oct 17th, the port spot price of imported ores fell slightly. The average price of PB fines was 570-575 yuan, down by 10 yuan; PB ores 695 yuan, flat; Yandicoogina fines 490-505 yuan, down by 5 yuan; super special fines 470-480 yuan, down by 5 yuan; 63% Brazil coarse particle ores 575-585 yuan, down by 5 yuan.
2. Cokes
The price of 1501 coke fell on a weak basis, and was closed at 1068 yuan by midday, down by 0.47% compared with the settlement price; the price of 1501 coking coal also dropped, and was closed at 781 yuan by midday, down by 0.12% with the settlement price.
3. Steel billet
On Oct 17th, the price of common carbon steel billet in Tangshan was steady, and the ex-factory price from major steel mills was 2610 yuan (cash and tax inclusive). Downstream turnover remained weak.
[Forecast for the next week]
Most steel mills were in the price falling trend, with the ex-factory price ranging from 2990-6500 yuan/ton, which was a significant difference in price. The market outlook is not optimistic, no significant improvement is expected to occur in the short term, and the bearing steel market may remain in the weak consolidation state next week.
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Next Aug 17 Bearing Steel Price in Different Regions of China
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