Weekly Review of Bearing Steel Market in China (Nov 15th to 21st, 2014)
Resource from: CBCC Likes:122
Dec 04,2014
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 21st, the imported ore market run in downward trend. The average price of PB fines was 500-505 yuan, down by 5 yuan; PB ores 690-705 yuan, flat; Yandicoogina fines 435-470 yuan, flat; super special fines 415-425 yuan, down by 5 yuan; 63% Brazil coarse particle ores 575-585 yuan, down by 5 yuan.
On Nov 21st, the price of iron powder in Tangshan was stable. 66% iron powder Qian'an was 570 yuan; 60% iron powder in Zunhua was 570 yuan , 66% iron powder was 485 yuan; 66% iron powder in Qianxi was 565 yuan.
2. Coking coal
The coking coal market was steady as a whole, with no significant fluctuations in coal price, and this trend was believed to stay in short term.
3. Steel billet
On Nov 21st, the price ex-factory of common square billet from major steel mills was 2410 yuan (cash and tax inclusive).
[Review of Major Markets]
Export momentum was gratifying, and tax rebates was cancelled. In August, the export volume of steel bearing was 15,323 tons, increased by 86.5% YoY, and 1.9% MoM. From January to August, the total export volume was 95,094 tons, representing an increase of 9.53% YoY.
Due to the weak demand in domestic market, steel mills have set his sights on the international market, some of which even give a 300-500 yuan/ton preferential policy to encourage users to export. Recently, Chi Jingdong, deputy secretary-general of China Steel Association, said that China will cancel the export tax rebate policy this year, which may result in the reduction of steel export volume. Bearing steel exports currently enjoy a 6% rebate policy, so it will directly affect the export volume of bearing steel if the policy canceled. It will undoubtedly be worse in face of the current poor market demand.
[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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