Weekly Summary: 2024 China Bearing Steel Market Trend in First Week of February is stable

Weekly Summary: 2024 China Bearing Steel Market Trend in First Week of February 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 5187.5 yuan/ton.

2. Overview of major markets

Liaocheng market bearing steel prices are stable, general transactions. Liaocheng market with giant energy, Jiyuan steel plant supply is more abundant, a number of traders inventory maintained at about 1000 tons. At present, the traditional off-season, the seasonal decline in demand is obvious, superimposed downstream enterprises have holidays, the market has entered the final stage, and the transaction performance is light. Overall, it is expected that the short-term Liaocheng market bearing steel prices are mainly stable. Jiyuan Steel GCr15Φ16-29.5 at 4780 yuan/ton, giant special steel GCr15Φ16-90 at 4650 yuan/ton.

Hangzhou market bearing steel prices run smoothly, the shipment speed is slow. 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. Due to the high price of raw materials, the price of finished materials is strongly supported, and the operation is mainly based on stable price and volume shipment. Near the end of the year, the downstream small replenishment, trading performance is general, it is expected that the short-term Hangzhou market bearing steel prices or will continue to 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 businesses are watching cautiously. 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' inventory is about 1000 tons. At this stage, the market demand performance is general, the market continues to need to purchase, the price of raw materials continues to be high, the cost of steel mills is high, and the price support is strong. However, considering that the Spring Festival holiday is approaching, merchants are gradually entering the holiday mode, and merchants are cautious in operation, and the operation is mainly stable and quantitative. 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 Dalian market are weak and stable, and merchants are cautious in replenishment. Dalian market Shangben Steel, Dongte shares and Jianlong Beiman supply is very rich, many traders storage in 3000-4000 tons. Downstream terminals and traders choose just need to purchase, the market demand is cold. In terms of transaction, due to the gradual holiday of businesses, the market atmosphere is becoming more and more cold, and the transaction is difficult to improve in the short term. Overall, it is expected that the price of bearing steel will be weak and 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 temporarily stable operation, businesses have a holiday. In the recent stage, the Luoyang market is dominated by Jiyuan Steel, Daye special steel and He Steel stone steel supplies, and some traders' storage is about 1000 tons. The downstream terminal procurement enthusiasm is weak, the market demand is slow to release, and the business wait-and-see risk-aversion is strong. According to customer feedback, individual scattered merchants have a holiday in advance, and the market has entered a semi-closed market state. Considering that the holiday is approaching, businesses are on holiday one after another, and the market is becoming increasingly cold, it is expected that the price of bearing steel will be 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.

2. Steel mills

From January 26 to January 31, the price adjustment situation of the main bearing steel mills in the country is as follows: a total of 1 steel mills released price adjustment information in this period, a cumulative release of 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

The bearing steel market price is stable this week. At present, the Spring Festival holiday is approaching, the demand has weakened significantly, and the transaction is difficult to release in the off-season, and the fundamentals maintain the weak operation of supply and demand. In terms of price, considering that raw material prices are still at a high level, bearing steel price support is strong, superimposed after the second half of the week enterprises have entered the holiday, market price volatility space narrowed, is expected to short-term bearing steel market prices are still stable operation.