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

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

I Review this week

1. Price

This week the national bearing steel mainstream market price 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. This week, some merchants small inventory shortage resources, spot inventory to maintain a normal level, the current seasonal off-season characteristics appear, downstream terminal enterprise procurement enthusiasm is slightly insufficient, the market demand is more general. Overall, 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, merchants small replenishment. The spot inventory of Hangzhou market is mainly based on the resources of Zhongtian Steel, Nanjing Steel and Daye special steel, and most traders' inventory is stable at about 1000 tons. At present, some traders have increased their inventories, but the market demand performance is general, and downstream procurement is still cautious. Near the end of the year, the demand has not been significantly increased, and it is expected that the price of bearing steel in the Hangzhou market will run smoothly in the short term. 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 run smoothly, market sentiment is not high. 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. The recent seasonal characteristics are obvious, the market demand is gradually weakening, and the transaction is not smooth, but considering the cost support, the merchant is willing to support the price, and the price is mainly stable. On the whole, it is expected that the price of bearing steel in Wuxi market will continue to be 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.

Bearing steel prices in the Dalian market are running smoothly, and merchants are cautious about replenishment. Dalian market Shangben Steel, Dongte shares and Jianlong Beiman supply is very abundant, a number of traders storage in 3000-4000 tons. Downstream terminals take just-needed procurement, business operations are generally cautious, and the market atmosphere is cold. In terms of sentiment, because market transactions did not reach the expected level, businesses wait-and-see risk aversion is strong. Taking into account the price support of the raw material end, 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, transaction performance is general. This week, the increase in resources to the Luoyang market is limited, 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. Downstream terminal procurement is weak, market demand is released slowly, and transactions are lower than the same period in previous years. In terms of inventory, due to the slow release of demand, merchants are relatively cautious in restocking. On the whole, it is expected that the price of bearing steel will be temporarily stable in the short term. 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 12 to January 19, there is no steel mill to release price adjustment information, and next week should continue to pay attention to the impact of consumer demand and steel mill maintenance.

II Next Week Outlook

This week bearing steel prices to stable operation. At present, the seasonal impact is obvious, the demand performance is general, traders are slow to ship, but at the end of the year, the maintenance of steel mills has increased, and the spot price of bearing steel has formed support and is willing to support the price. In terms of inventory, traders began to make small restocking near the end of the year, but they did not hoard much. Overall, it is expected that the bearing steel market price will remain stable next week.