Weekly Summary: 2024 China Bearing Steel Market Trend in First Week of January rose

Weekly Summary: 2024 China Bearing Steel Market Trend in First Week of January rose

I Review this week

1. Price

This week the national bearing steel mainstream market prices rose. At present, the round steel of GCr15Φ30 in five major markets in the country (average price) is 5192.5 yuan/ton.

2. Overview of major markets

Liaocheng market bearing steel prices remain stable, the market demand performance is general. Liaocheng market with giant energy, Jiyuan steel plant supply is more abundant, a number of traders inventory maintained at about 1000 tons. From the market situation, the downstream terminal enterprise procurement enthusiasm is insufficient, the market demand is weak, the downstream procurement is generally cautious, in order to promote the exchange, the bargaining space is much larger, the market high price transaction is still more difficult. In terms of sentiment, some merchants believe that market demand is difficult to improve in the short term, and businesses have strong wait-and-see sentiment for the future market. Although the mainstream steel mill resource specifications are complete, but in view of the current market demand is poor, the shipment situation is general, it is expected that the short-term Liaocheng market bearing steel prices or will temporarily stable operation. Jiyuan Steel GCr15Φ16-29.5 at 4780 yuan/ton, giant special steel GCr15Φ16-90 at 4650 yuan/ton.

Bearing steel prices in the Hangzhou market are stable and strong, and the trading atmosphere is general. Recently, the new resources to the Hangzhou market have slowed down, and the spot inventory is dominated by the resources of Zhongtian Steel, Nanjing Steel and Daye special steel. At present, most merchants are in the inventory de-stocking stage, the market demand is weak, the downstream mentality is more conservative, the steel pipe factory and the forging factory basically purchase on demand, the overall demand is subject to certain constraints, and the market trading atmosphere is general. Near the end of the year, the market demand has not been significantly expanded, and businesses are properly replenished. Overall, it is expected that the bearing steel price in the short-term Hangzhou market will run smoothly. As of press time, Zhongtian Steel GCr15Φ40-140 at 4730 yuan/ton, Daye Special Steel GCr15Φ20-40 at 5100 yuan/ton.

Wuxi market bearing steel prices individually increased, merchants appropriate replenishment. Wuxi market spot to Zhongtian steel, Xingcheng special steel, Bensteel resources, most traders are more than 1000 tons of inventory. At present, the downstream and terminal enterprises to buy insufficient, most choose to purchase on demand, market sentiment performance is relatively low, business confidence in the future market is weak, in order to more shipments, some traders to implement "a single discussion" do not lock the price. In terms of inventory, compared with last week, there is little change in inventory this week, and it is close to winter storage, and businesses are appropriately replenishing inventory. On the whole, it is expected that the bearing steel price in the Wuxi market will be mainly stable in the short term. As of press time, Zhongtian Steel GCr15Φ40-140 at 4,700 yuan/ton, Xingcheng Special Steel GCr15Φ31-90 at 5,820 yuan/ton.

Dalian market bearing steel prices run smoothly, business wait-and-see risk aversion. Dalian market Shangben Steel, Dongte shares and Jianlong Beiman supply is very rich, many traders storage in 3000-4000 tons. Downstream terminal procurement is cautious, traders continue rigid demand, the market atmosphere is cold, and transactions are light. In terms of inventory, considering the arrival of replenishment resources in the early stage, the overall inventory of the society will show a small accumulation trend. Overall, it is expected that the price of bearing steel in Dalian will be stable in the short term. At present, Bentang special steel GCr15Φ81-130 is 4750 yuan/ton, East special shares GCr15Φ86-180 is 4900 yuan/ton, and Jianlong Beiman GCr15Φ30-75 is 4850 yuan/ton.

Luoyang market bearing steel prices stable operation, the transaction is relatively weak. This week, Luoyang market to the storage resources increased slightly, the market with Jiyuan, Daye special steel and river steel steel supply is relatively rich, some traders in storage of about 1,000 tons. Downstream terminals and businesses have continued rigid demand, the market trading atmosphere is general, and transactions are weak. In terms of sentiment, demand has not reached the level, and businesses are more cautious and wait-and-see mood. Considering that the price of raw materials has a certain supporting role, it is expected that the short-term price of bearing steel will run smoothly. As of press time, Jiyuan Steel GCr15Φ6.5-23 is 4900 yuan/ton, Daye Special Steel GCr15Φ20-40 is 5150 yuan/ton, and Hegang Steel GCr15Φ131-180 is 4750 yuan/ton.

3. Steel Mills

From December 29 to January 5, there is no steel mill to release price adjustment information, and we should continue to pay attention to the impact of consumer demand and steel mill maintenance next week.

II Next Week Outlook

This week bearing steel prices individually raised. Due to the continued high prices of raw materials, the cost of bearing steel has increased, and the market price has risen slowly, but in view of the general performance of downstream demand, business operations are still dominated by shipment returns, and the mentality is cautious. In terms of inventory, there is little change in inventory this week compared with last week, and businesses are properly replenished. On the whole, it is expected that the bearing steel market price will be temporarily stable next week.