Weekly Review of Bearing Steel Market in China ( 26th, Jan to 2nd, Feb,2018)

Weekly Review of Bearing Steel Market in China ( 26th, Jan to 2nd, Feb,2018)

I.Macro News

China Market News

Xi jinping: China and the UK jointly create a "golden age" enhanced version

Xi Jinping first asked Teresa Mei to convey his cordial greetings and best wishes to Queen Elizabeth II. Xi pointed out that Britain is the first western country to recognize the new China. Since the establishment of diplomatic relations, the cooperation between the two countries in various fields has achieved fruitful results. In 2015, I paid a successful visit to Britain and both sides jointly opened the "golden chapter" of Sino-British relations. China is ready to work with the British side to promote the healthy and stable development of Sino-British relations in the new era, bring more benefits to both peoples and provide more assistance to the world in prosperity and stability.

The national daily average crude steel output is estimated at 2.1025 million tons in late January

Crude steel output is expected to decline slightly in late January. National crude steel production was 2312.78 million, the average daily output of 210.25 million tons, down 0.82% from the middle of January. In January, the national crude steel output was 6513.68 million tons, with an average daily output of 210.12 million tons, an increase of 528 thousand  tons from the previous month, an increase of 2.58%.

International News

ASEAN Iron and Steel Association: China eliminated intermediate frequency furnace steelmaking equipment or into Southeast Asia

ASEAN Iron and Steel Association (AseanIronandSteelCouncil) hopes that ASEAN governments can ban the import of China's production of waste IF furnaces, which are generally used to manufacture non-conforming steel.After China banned the use of IF furnaces,these wasted equipment went into ASEAN in some ways.Since there is no law in China that prohibits the export of IF furnace furnaces, ASEAN Steel and Steel Institute hopes ASEAN governments will take action accordingly.

The EU finally imposed anti-dumping duties on Chinese cast iron products

On January 31, the European Commission announced that it will finalize an anti-dumping investigation on China's cast iron products and decide to impose anti-dumping measures against these products for a period of five years from the date of anti-dumping duties ranging from 15.5% to 38.1%.

II.Raw material and ferroalloy market

The price of Raw material and ferroalloy market

This week, among the five categories of raw materials, the prices of domestic ore，pig iron and scrap steel rose，imported ore and coke declined. The main ferromolybdenum,silica and ferrovanadium slightly declined, tungsten iron and high-manganese ,electrolytic nickel and high chromium remained flat.

2.1 Price of five raw materials(unit: RMB yuan/ton )

Form 1: Price Comparison of Five Raw Materials by Week and by Month

Remark: the data of imported ore come from 63% of Indian ore in Tianjin ports; the data of domestic ore is from 66% of Hebei iron power; the data of pig iron is from the average price including tax of pig iron for steel making ;The data of scrap steel is from the average price including tax of of scrap steel of 6-8mm thick; the data of coke from the ex-factory price (including tax) of the secondary metallurgical coke of Tangshan. 

2.2 Prices of Ferroalloy (unit: RMB yuan/ton )

Form 2: Price Comparison of Ferroalloy by Week and by Month

III.Price Index Trend of China Special Steel

1. Up to 8nd December , the price index of special steel reached to 126, 0.11% down over last week and down 5.19% over last month.

2. Synthetic index of carbon steel and gear steel , bearing steel keep decreasing, spring steel and die steel remain flat.

3. According to the trend of price index, the price of special steel will weak next week.

Remark:

1. Mysteel-sspic（Mysteel-Special Steel Price Index of china is a set of price index of special steel launched by Mysteel.com representing the consumption and operation of special steel market.

2. The seven categories of steel adapted by Synthetic index are based on 45 # (Φ 20) carbon structural steel, alloy structural steel 40 Cr (Φ 20), 20 CrMnTi gear steel, spring steel 60 Si2Mn (Φ 50), bearing steel GCr15 (Φ 50), 4 cr5mosiv1 alloy tool steel (H13), stainless steel 0 Cr18Ni9 (304/2B 2. 0 mm plate).

3.The price come from the major consuming market of superior special steel, including Shanghai, Hangzhou, Changsha, Wuhan, Chongqing, Wuxi, Changzhou, Chengdu, Xi’an, Shenyang etc.

4.The index herein means weighted index , with the weight of each category made on the basis of its percentage of the total consumption of special steel over one year. The price adapted is the one of of major inventory markets by week.

5.The base date of the index is January 1, 2007 , with its value at 100 points.

6.According to the weight of latest categories in 2010, data in each day will have a deviation of 2-3 point. To ensure the continuity of the data, the index is not adjusted and the index based on the new weight is only for tracking prices.

IV. Ex-factory Price Tracking of Superior Special Steel Manufacturers

This week, we tracked 83 superior special steel manufacturers, of which 10mills released ex-factory pricing information, 7 mills flated their ex-factory prices，and 3 mills increased. The ex-factory adjustment of price only involved products such as a few bars and optimal wire rods, with the increasing of 20-60yuan/ton.

V. Price of Superior Special Steel

1. Price Tracking of Structural Steel Bar in a Week(unit: RMB yuan/ ton)

2. Price Tracking of Superior Wire Rod in a Week(unit: RMB yuan/ ton)

3. Price Tracking of Superior Plate and Strip in a Week(unit: RMB yuan/ ton)

4. Price Tracking of Other Special Steel in a Week(unit: RMB yuan/ ton)