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

Weekly Summary: 2024 China Bearing Steel Market Trend in Second 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 remain stable, few transactions. Liaocheng market with giant energy, Jiyuan steel plant supply is more abundant, a number of traders inventory maintained at about 1000 tons. This week downstream enterprises have been on holiday, the market has entered the final stage, and there are few transactions. However, some enterprises have docked batch orders, shipped after the festival, and resumed work successively downstream after the overlapping festival, which may drive spot prices up. Overall, it is expected that the price of bearing steel in Liaocheng market will rise slightly after the festival. 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, weak transactions. 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. After Tuesday, the market has been closed, and the transaction is weak, but the price of raw materials is high, the price of finished materials is strong, and the quotation is stable. Taking into account that after the downstream resumption of work after the festival, demand may be released to a certain extent, and the price of bearing steel in the Hangzhou market is expected to rise after the festival. 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 are running smoothly, and businesses are closed for holidays. 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. This week, businesses enter the holiday market mode, businesses tend to be cautious, prices are mainly stable, and the market fully shows the state of price without market. It is reported that the post-holiday market will resume work and production after the eighth day of the first month, coupled with high cost prices, it is expected that the price of bearing steel in Wuxi market will rise slightly after the holiday. 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 temporarily stable operation, businesses into the holiday mode. Dalian market Shangben Steel, Dongte shares and Jianlong Beiman supply is very rich, many traders storage in 3000-4000 tons. Due to the arrival of the Spring Festival, downstream terminals and traders have a holiday this week, and market demand is increasingly cold. Considering that after the holiday, businesses will start work one after another, market demand may get a small wave of release. In summary, it is expected that the price of bearing steel in Dalian is expected to rise slightly after the holiday. 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 run smoothly, the market atmosphere is more and more cold. 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. At the beginning of this week, downstream terminals and businesses gradually entered the holiday mode, the market atmosphere became weaker and weaker, and finally entered the state of closure. Taking into account the high cost of bearing steel and the resumption of production of some businesses on the eighth day, it is expected that the price of bearing steel in the Luoyang market will stabilize and become stronger after the holiday. 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

In this period, no steel mills have released price adjustment information, and after the holiday, we should continue to pay attention to the impact of consumer demand and steel mill maintenance.

II Next Week Outlook

With the arrival of the Spring Festival holiday, the market has gradually entered the holiday mode, the market atmosphere has gradually cooled, and the price of bearing steel has maintained a stable operation before the festival. With the gradual recovery of demand after the year, the support of raw material costs is strong, and the overall expectation is good, the spot price may rise. On the whole, it is expected that the market price of bearing steel after saving will rise slightly.