Weekly Summary: 2025 China Bearing Steel Market Trend in First Week of January is weakly Stable

Weekly Summary: 2025 China Bearing Steel Market Trend in First Week of January is weakly Stable

Ⅰ This week's review

【In terms of price】

This week, the price of bearing steel has been running weakly and steadily. As of today, the absolute price index of GCr15 is 4970 yuan/ton.

【Overview of Major Markets】

The price of bearing steel in Liaocheng market is running weakly and steadily, with average transactions. At present, the spot of bearing steel in Liaocheng market mainly comes from steel mills such as Juneng and Jiyuan, and the inventory of multiple traders remains above 500 tons. At present, merchants replenish their inventory based on demand, and downstream suppliers have a low willingness to replenish their inventory. Transactions are mainly based on essential needs. At the same time, considering the concentration of resources in the Liaocheng market, there is insufficient room for improvement in demand in the short term. It is expected that the price of bearing steel in the Liaocheng market will continue to operate weakly and steadily in the short term. Currently, Jiyuan Steel's GCr15 Φ 30-75 is priced at 4330 yuan/ton, while Juneng Special Steel's GCr15 Φ 16-90 is priced at 4100 yuan/ton.

The price of bearing steel in the Hangzhou market is running weakly and steadily, and merchants are replenishing their inventory as needed. In terms of spot inventory, Zhongtian Steel and Nanjing Steel have slightly abundant resources, while most traders maintain inventory levels of around 500 tons. Given the average market demand, merchants tend to adopt an on-demand procurement strategy when restocking, and their quotes are often negotiated without locking in prices. Considering that it will take some time for demand to recover, it is expected that the price of bearing steel in the Hangzhou market will remain stable in the short term. As of press time, Zhongtian Steel's GCr15 Φ 40-140 is priced at 4320 yuan/ton, and Daye Special Steel's GCr15 Φ 20-40 is priced at 4750 yuan/ton.

The price of bearing steel in the Wuxi market is running weakly and steadily, with average transactions. In the Wuxi market, bearing steel products such as Zhongtian Steel and Xingcheng Special Steel are relatively abundant, and the inventory of most traders is maintained at about 800 tons. Compared with last week, the market sales this week have slightly improved, but there are not many large orders, especially as demand gradually weakens towards the end of the year and transactions are average. The current supply and demand situation has slightly eased. Overall, it is expected that the price of bearing steel in the Wuxi market will remain weakly stable in the short term. The current quotation for GCr15 Φ 40-140 from Zhongtian Steel is 4320 yuan/ton, while the quotation for GCr15 Φ 31-90 from Xingcheng Special Steel is 5600 yuan/ton.

The price of bearing steel in the Dalian market is running steadily, but the market transactions are slightly sluggish. In the Dalian market, Benxi Iron and Steel, Dongte Shares, and Jianlong Beiman have abundant sources of goods, with large-scale traders maintaining inventory of around 3000 tons. Downstream terminal enterprises have insufficient procurement efforts, and the demand side has not improved, resulting in weak transactions. Considering that the climate in Northeast China is gradually becoming colder and it is difficult to improve in the short term, many businesses are adopting a cautious and wait-and-see attitude. Overall, it is expected that the price of bearing steel in the Dalian market will remain weak and stable next week. Currently, Bengang Special Steel's GCr15 Φ 81-130 is priced at 4250 yuan/ton, Dongte Stock's GCr15 Φ 86-180 is priced at 4250 yuan/ton, and Jianlong Beiman's GCr15 Φ 30-75 is priced at 4300 yuan/ton.

The price of bearing steel in Luoyang market is mainly stable, with a decrease in transaction orders. Recently, there has been a relatively abundant supply of Jiyuan Steel, Daye Special Steel, and Hegang Stone Steel in the Luoyang market, with several traders holding around 1000 tons in stock. Downstream enterprises choose rigid demand procurement, which weakens the market trading atmosphere and results in slightly sluggish transactions. In order to circulate funds, it is relatively common for merchants to negotiate prices on a single basis. Considering the limited room for improvement on the demand side, it is expected that the price of bearing steel in Luoyang will remain stable next week. As of the time of writing, Jiyuan Steel's GCr15 Φ 6.5-23 is quoted at 4550 yuan/ton, Daye Special Steel's GCr15 Φ 20-40 is quoted at 4600 yuan/ton, and Hegang Stone Steel's GCr15 Φ 131-180 is quoted at 4250 yuan/ton.

【Regarding steel mills】

From December 27th to January 3rd, one steel mill in Japan released price adjustment information, with a total of one price adjustment information released. Next week, we should continue to pay attention to the impact of consumer demand and steel mill maintenance.

Ⅱ Next week's outlook

The market price of bearing steel fluctuated and weakened this week. At present, most merchants focus on selling inventory and replenish it appropriately. During the off-season, the downstream demand in the market is weak, and merchants are cautious about the future market. Most merchants control their bargaining space based on the order situation. Overall, it is expected that the market price of bearing steel will remain weakly stable next week.