Weekly Review of Bearing Steel Market in China (Nov 1st to 7th, 2014)
Resource from: CBCC Likes:131
Nov 17,2014
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 4232 yuan/ton, the average price of die-casting annealed steel is 5808 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 3900 to 4100 yuan/ton.
[Raw materials]
1. Ores
On Nov 7th, 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. Coking coal
Domestic coke market improves on a stable basis. Shanxi Coke Association proposed to raise price this month.
3. Steel billet
On Nov 7th, the price of square billet in Tangshan was steady, and the ex-factory price from major steel mills was 2440 yuan (cash and tax inclusive). Downstream steel mills mainly cut production, and the turnover remained weak.
On Nov 7th, the price ex-factory of common square billet from major steel mills was 2440 yuan (cash and tax inclusive).
[Review of Major Markets]
In October, the price of bearing steel continued to dip, mainly down by 100 yuan/ton. Up to now, the price of low-end continuous non-annealed casting material is about 3200 yuan/ton; mid-range materials 3400 yuan / ton; high-end materials 4600 yuan/ton; forgings 6400 yuan/ton. The market demand is weak currently, and the market is in a serious homogenization of competition, resulting in continuous falling of market price. However, most of bearing steel mills operate at a loss, which drive them to cut production, thus limiting the magnitude of price declines. The bearing steel price in November is expected to keep falling, mainly in the range of 80-100 yuan/ton.
[Forecast for the next week]
No significant improvement is expected to occur in the short term, and the bearing steel market will remain in downturn 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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