Weekly Summary: 2025 China Bearing Steel Market Trend in Second Week of March is Weak and Stable

Weekly Summary: 2025 China Bearing Steel Market Trend in Second Week of March is Weak and Stable

1、 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 4960 yuan/ton.

【Overview of Major Markets】

The price of bearing steel in Liaocheng market is running weakly and steadily, and the mentality of merchants is conservative. At present, the spot of bearing steel in the Liaocheng market mainly comes from steel mills such as Juneng and Qinggang, and the inventory of multiple traders remains above 800 tons. There are many external resources in the Liaocheng market, and prices are in a low state. Coupled with the lack of obvious market demand release at the current stage, traders' emotions are not good. In order to ship more goods, bulk orders are often negotiated without locking in quotes. Overall, it is expected that the price of bearing steel in Liaocheng market will continue to operate weakly and steadily next week. Currently, Jiyuan Steel's GCr15 Φ 30-75 is priced at 4300 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 currently stable, with average transactions. In terms of spot inventory, Zhongtian Steel and Nanjing Steel have slightly abundant resources, while most traders maintain inventory levels of around 700 tons. This week, the overall trading activity in the market was not high, with prices stabilizing with a slight decrease. Downstream demand orders showed average performance, with more purchases made on demand. In terms of emotions, merchants have weakened expectations for the future market, lack confidence, and generally prioritize fast in and fast out shipments. Overall, it is expected that the price of bearing steel in the Hangzhou market will remain stable in the short term, with range fluctuations. As of press time, Zhongtian Steel's GCr15 Φ 40-140 is reported at 4220 yuan/ton, and Daye Special Steel's GCr15 Φ 20-40 is reported at 4620 yuan/ton.

The price of bearing steel in the Wuxi market is currently stable, and the market is actively shipping. In the Wuxi market, bearing steel products such as Zhongtian Steel and Xingcheng Special Steel are relatively abundant, and most traders maintain inventory levels of about 800 tons or more. This week, spot prices followed the market trend, and market prices were significantly suppressed by demand. Traders' quotes fell narrowly, but transaction performance was average. In terms of emotions, businesses have weakened their expectations for the future market and generally focus on fast in and fast out. 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 4220 yuan/ton, while the quotation for GCr15 Φ 31-90 from Xingcheng Special Steel is 5540 yuan/ton.

The price of bearing steel in the Dalian market is running weakly, with average transactions. 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 lack enthusiasm for procurement and continue to make essential purchases, resulting in average transactions. In terms of emotions, given the weak market performance, merchants are cautious in their operations and have a clear wait-and-see attitude. Overall, it is expected that the price of bearing steel in the Dalian market will remain stable in the short term. Currently, Bengang Special Steel's GCr15 Φ 81-130 is priced at 4220 yuan/ton, Dongte Stock's GCr15 Φ 86-180 is priced at 4220 yuan/ton, and Jianlong Beiman's GCr15 Φ 30-75 is priced at 4210 yuan/ton.

The price of bearing steel in Luoyang market is running weakly, and downstream purchases are made according to demand. Recently, the supply of Jiyuan Steel and Daye Special Steel in the Luoyang market has been relatively abundant, with multiple traders holding around 500 tons in stock. Downstream terminals and traders both choose to make essential purchases, resulting in slow market demand release and poor high-level transactions. In terms of inventory, the current inventory consumption rate is slow, and the overall social inventory is still at a high level. Overall, it is expected that the price of bearing steel in the Luoyang market will slightly weaken next week. As of the time of writing, Jiyuan Steel's GCr15 Φ 6.5-23 is quoted at 4500 yuan/ton, Daye Special Steel's GCr15 Φ 20-40 is quoted at 4580 yuan/ton, and Hegang Stone Steel's GCr15 Φ 131-180 is quoted at 4210 yuan/ton.

【Regarding steel mills】

From March 7th to March 14th, a total of 2 steel mills released price adjustment information, with a total of 2 price adjustments. Next week, we should continue to pay attention to the impact of consumer demand and steel mill maintenance.

2、 Next week's outlook

The market price of bearing steel has been weakly stable this week. At present, downstream suppliers are cautious in purchasing goods and maintaining on-demand procurement. Overall transactions are average, and merchant quotations are starting to decline, with accompanying shipments. Overall, it is expected that the market price of bearing steel will experience weak consolidation next week.