Weekly Summary: 2025 China Bearing Steel Market Trend in Fourth Week of March has slightly Decreased

Weekly Summary: 2025 China Bearing Steel Market Trend in Fourth Week of March has slightly Decreased

1、 This week's review

【In terms of price】

This week, the price of bearing steel has slightly decreased, and as of today, the absolute price index of GCr15 is 4950 yuan/ton.

【Overview of Major Markets】

The price of bearing steel in Liaocheng market is running weakly, with average transactions. 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 1000 tons. At present, the market demand is average, and the terminal continues to make essential purchases. The weak demand has led to a slight decline in spot prices, coupled with the abundance of low-priced resources in the Liaocheng area. Under the influence of weak demand, some traders are selling at low prices. Overall, it is expected that the price of bearing steel in Liaocheng market will remain weakly stable next week. Currently, Jiyuan Steel's GCr15 Φ 30-75 is priced at 4260 yuan/ton, while Juneng Special Steel's GCr15 Φ 16-90 is priced at 4050 yuan/ton.

The price of bearing steel in the Hangzhou market is weakly stable, and downstream purchases are made according to demand. In terms of spot inventory, Zhongtian Steel and Nanjing Steel have slightly abundant resources, while most traders maintain inventory levels of around 700 tons. Downstream procurement is still mainly based on demand, and the demand for bulk orders has decreased compared to previous years, resulting in poor demand. Emotionally, merchants maintain a cautious attitude towards the future market. Overall, it is expected that the price of bearing steel in the Hangzhou market will experience narrow fluctuations in the short term. As of press time, Zhongtian Steel's GCr15 Φ 40-140 is reported at 4210 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. At present, the downstream demand for replenishing inventory is still acceptable, but the overall situation is average. Except for bulk order prices, merchant quotations are mainly stable, and the bargaining space for bulk order prices has increased. 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 4210 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 have insufficient purchasing enthusiasm, and merchants continue to make essential purchases, resulting in average transactions. Market prices are under pressure and are declining. In terms of sentiment, 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 weak and stable in the short term. Currently, Bengang Special Steel's GCr15 Φ 81-130 is priced at 4210 yuan/ton, Dongte Stock's GCr15 Φ 86-180 is priced at 4180 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 4460 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 14th to March 28th, a total of one steel mill released price adjustment information, with a cumulative total of one price adjustment information. 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 weak this week. At present, downstream procurement is cautious, maintaining on-demand purchasing, and spot prices are in line with market trends. Merchants' quotes are narrowly declining, and transaction performance is average. In terms of emotions, there is a strong wait-and-see sentiment in the market, showing a phenomenon of "price decline and volume contraction", and being bearish on the future market. Overall, it is expected that the market price of bearing steel will continue to decline next week.