Weekly Summary: 2023 China Bearing Steel Market Trend in Third Week of November has been raised individually

Weekly Summary: 2023 China Bearing Steel Market Trend in Third Week of November has been raised individually

1. Review of this week

【Price】

This week, the mainstream market price of bearing steel across the country is temporarily stable. The current average price of GCr15Φ30 round steel in the five major markets across the country is 5,050 yuan/ton.

【Main market overview】

The price of bearing steel in Liaocheng market increased individually, and the trading atmosphere was average. At present, the inventory in the Liaocheng market has not changed much compared with last week. Most of the supplies are from Juneng and Jiyuan steel plants. The inventory of many traders remains at around 2,000 tons. In terms of the market, at this stage, affected by poor market demand, merchants are not willing to take the initiative to replenish their inventory and are cautious. However, in view of the continued high price of raw materials, bearing steel price support is acceptable, and merchants are obviously willing to raise prices. Taken together, it is expected that the price of bearing steel in the Liaocheng market may be stable and strong in the short term. Currently, Jiyuan Steel GCr15Φ16-29.5 is quoted at 4,680 yuan/ton, and Juneng Special Steel GCr15Φ16-90 is quoted at 4,400 yuan/ton.

The price of bearing steel in Hangzhou market is temporarily stable, and the transaction volume is average. At present, the spot inventory in the Hangzhou market is dominated by resources from Zhongtian Steel, Nanjing Steel, and Daye Special Steel, and most traders maintain inventory at around 2,000 tons. In terms of the market, there is limited room for release of demand from end-user companies, average transactions, and greater price competition pressure from merchants. Transactions at high market prices are limited, and merchant sentiment is cautious and weak. Taken together, it is expected that bearing steel prices in the Hangzhou market will remain stable in the short term. As of press time, Zhongtian Steel GCr15Φ40-140 was quoted at 4,580 yuan/ton, and Daye Special Steel GCr15Φ20-40 was quoted at 5,050 yuan/ton.

Bearing steel prices in the Wuxi market are stable and strengthening, but demand resilience is insufficient. The spot stocks in the Wuxi market are mainly resources from Zhongtian Steel, Xingcheng Special Steel, and Benxi Iron and Steel, and most traders have inventories of more than 1,000,000 tons. According to market feedback, although raw material prices continue to be high, the overall market activity is low, terminal demand is tepid, downstream purchases continue to be in urgent need, and merchants are low in willingness to actively replenish their inventories. Taken together, it is expected that the price of bearing steel in the Wuxi market may fluctuate in the short term. As of press time, Zhongtian Steel GCr15Φ40-140 was quoted at 4,580 yuan/ton, and Xingcheng Special Steel GCr15Φ31-90 was quoted at 5,820 yuan/ton.

The price of bearing steel in the Luoyang market is temporarily stable, and most merchants are cautious. Currently, there are limited new resources in the Luoyang market. The market is mainly supplied by Jiyuan, Daye Special Steel and Hegang Stone Steel, and some traders have inventories of around 1,000 tons. The purchasing enthusiasm of downstream terminals is weak, the market trading atmosphere is not good, and the mentality of merchants is cautious and pessimistic. The release of market demand is slow, merchants are not willing to replenish their inventory, and the available resources are limited. Taken together, it is expected that the price of bearing steel in Luoyang may fluctuate slightly in the short term. As of press time, Jiyuan Steel GCr15Φ6.5-23 is quoted at 4,800 yuan/ton, Daye Special Steel GCr15Φ20-40 is quoted at 5,150 yuan/ton, and Hegang Shigang GCr15Φ131-180 is quoted at 4,650 yuan/ton.

The price of bearing steel in Dalian market has been running smoothly, and the transaction performance is average. In the Dalian market, Benxi Iron and Steel Co., Ltd., Dongte Steel Co., Ltd. and Jianlong Beiman Steel Co., Ltd. have abundant supply, and many traders have stocks of 3,000-4,000 tons. End users and traders continue to have rigid demand, transactions are limited, and low-price shipments are common in the market. It is difficult for market demand to increase significantly, and businesses have a strong wait-and-see attitude. Overall, it is expected that Dalian bearing steel prices may fluctuate within a narrow range in the short term. Bengang Special Steel GCr15Φ81-130 is currently quoted at 4,650 yuan/ton, Dongte Co., Ltd. GCr15Φ86-180 is quoted at 4,800 yuan/ton, and Jianlong Beiman GCr15Φ30-75 is quoted at 4,750 yuan/ton.

【Steel factory】

The price adjustment situation of major bearing steel mills across the country from November 3 to November 10 is as follows: A total of 1 steel mill released price adjustment information in this period, and a total of 1 price adjustment information was released. Next week, we should continue to pay attention to the impact of consumer demand and steel mill maintenance. .

2. Outlook for next week

Although the trading atmosphere in the spot market this week is average and the high market transactions are weak, given that raw material prices continue to fluctuate at high levels, the bearing steel market price support is relatively strong, and market confidence may be boosted. It is expected that the bearing steel market price may increase next week. Maintaining stability and strengthening.