Weekly Summary: 2024 China Bearing Steel Market Trend in Second Week of January is temporarily stable

Weekly Summary: 2024 China Bearing Steel Market Trend in Second Week of January is temporarily stable

I Review this week

1. Price

This week the national bearing steel mainstream market prices temporarily stable operation. 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 remained stable, the transaction has not improved significantly. 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, at this stage, the market demand is general, the downstream procurement is generally cautious, the current cost of spot price support is still there, the merchant is appropriate to cover the position, the market spot inventory pressure is not big. 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. Taking into account the continued high prices of raw materials, it is expected that the price of bearing steel in the short-term Liaocheng market is mainly stable, and some materials may rise slightly. Jiyuan Steel GCr15Φ16-29.5 at 4780 yuan/ton, giant special steel GCr15Φ16-90 at 4650 yuan/ton.

Hangzhou market bearing steel prices temporarily stable operation, business wait-and-see risk aversion. 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 mainly based on shipment returns, the market demand is weak, and the downstream mentality is more conservative, but with the raw material prices at a high level, the cost of late arrival resources is higher, and the market quotation is relatively strong. 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.

Bearing steel prices in Wuxi market are running smoothly, and market transactions are more general. The spot inventory of Wuxi market is mainly based on the resources of Zhongtian Iron and Steel, Xingcheng special steel and Bensteel, and most traders' inventories are more than 1000 tons. At present, downstream and terminal enterprises purchase cautiously, purchase slightly insufficient, most of them choose on-demand procurement, market sentiment is not high, and high-priced resources are more difficult to deal with. 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 stable operation, business caution spread. Dalian market Shangben Steel, Dongte shares and Jianlong Beiman supply is very rich, many traders storage in 3000-4000 tons. Downstream terminals and traders continue to need to purchase, the market atmosphere is weak, and the transaction is 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. Considering that the price of raw materials has a certain supporting role, it is expected that the price of bearing steel in Dalian will run smoothly 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 temporarily stable operation, the transaction is relatively weak. This week, the increase in resources to the Luoyang market is not obvious, and the supply of Jiyuan, Daye special steel and He steel stone steel on the market is relatively rich, and some traders' storage is about 1000 tons. The downstream terminal procurement enthusiasm is insufficient, the market demand performance is general, and the transaction has not reached the expected level. In terms of sentiment, due to the slow release of demand, businesses are cautious to wait and see the spread of sentiment. In summary, it is expected that the short-term bearing steel price will be mainly stable operation. 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 January 5 to January 12, there is no price adjustment information issued by steel mills. Next week, we should continue to pay attention to the impact of consumer demand and steel mill maintenance.

II Next Week Outlook

This week bearing steel prices temporarily stable operation. The current seasonal demand is weak, shipments have slowed down, although there are merchants dark drop to promote shipments, but the market demand performance is less than expected, the transaction performance is general, merchants are generally cautious and wait-and-see, the mentality returns to rationality, and the operation is based on fast forward and fast out. In terms of inventory, traders have recently begun to carry out small replenishment operations, but the factory warehouse has not changed much. On the whole, it is expected that the bearing steel market price next week will be mainly stable and the range will fluctuate.