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

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

I Review this week

1.Price

This week the national bearing steel mainstream market prices are stable. 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 is the first week after the holiday, businesses have returned to work, demand recovery still takes some time, the market is few transactions. Taking into account the resumption of downstream work after the Lantern Festival, it may be able to drive spot prices up. Overall, it is expected that the price of bearing steel in Liaocheng market will rise in the short term. Jiyuan Steel GCr15Φ16-29.5 at 4780 yuan/ton, giant special steel GCr15Φ16-90 at 4650 yuan/ton.

Bearing steel prices in Hangzhou market run smoothly, and transactions are general. At present, the spot inventory of Zhongtian Steel, Nanjing Steel and Daye special steel in Hangzhou market is more abundant. In terms of the market, the market has not fully recovered, and the market procurement is weak. Spot high prices are difficult to deal with, low prices have a small number of transactions. At present, due to the strong price support of finished materials, businesses are more cautious, and the price is mainly stable. On the whole, it is expected that the price of bearing steel in the short-term Hangzhou market 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.

Wuxi market bearing steel prices are temporarily stable, and the market is gradually repaired. Wuxi market spot to Zhongtian steel, Xingcheng special steel, Bensteel resources, most traders are more than 1000 tons of inventory. After the return of the festival, the actual market demand is less, the market recovery still takes time, the current spot resource circulation is not good, the actual market transaction is weak, the business mentality is cautious and wait-and-see, the market price is mainly stable. In terms of inventory, there are still some resources to the library after the holiday, and the overall inventory has increased slightly. On the whole, it is expected that the bearing steel price in the Wuxi market will run smoothly 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 businesses are starting one after another. Dalian market Shangben Steel, Dongte shares and Jianlong Beiman supply is very rich, many traders storage in 3000-4000 tons. With the end of the holiday, most traders have returned to work, and a few terminal enterprises have resumed work and production after the Lantern Festival, and market demand is being repaired. In terms of inventory, taking into account the gradual arrival of replenishment resources before the holiday, the overall inventory showed a small accumulation after the holiday. On the whole, it is expected that the price of bearing steel in Dalian will be mainly stable next week. 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, market demand is being repaired. 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. Most downstream terminals and businesses have started work, and a few will resume production after the Lantern Festival, as the market atmosphere is becoming more active. Taking into account the cost support of bearing steel, it is expected that the price of bearing steel in the Luoyang market will be mainly stable next week. 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

No steel mills have released price adjustment information in this period, and we should continue to pay attention to the impact of consumer demand and steel mill maintenance next week.

II Next Week Outlook

The price of bearing steel is stable this week. In the first week after the resumption of work, the market demand recovered slowly, and a small number of low-priced resources were traded. At present, the merchants' mentality is relatively peaceful, and the prices are mainly stable. In terms of inventory, replenishment resources before the holiday arrived in the warehouse one after another, and the overall inventory showed a small accumulation after the holiday. Taking into account the return of some downstream and terminal markets after the Lantern Festival, the market atmosphere is gradually active, and demand is expected to increase. On the whole, it is expected that the bearing steel market price next week will be mainly stable and the range will fluctuate.