Weekly Summary: 2025 China Bearing Steel Market Trend in First Week of April is stable but slightly weak

 Weekly Summary: 2025 China Bearing Steel Market Trend in First Week of April is stable but slightly weak

1、 This week's review

In terms of price

This week, the price of bearing steel has been stable with a slight weakness, and as of today, the absolute price index of GCr15 is 4942 yuan/ton.

Overview of Major Markets

The price of bearing steel in Liaocheng market is running weakly, and merchants are cautious. 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. The current downstream demand is flat, and the pace of procurement in the mechanical manufacturing and automotive industries is slowing down. Market transactions are mainly based on small orders for essential needs. In addition, there are many low-priced resources in Liaocheng area. Under the influence of weak demand, some traders sell at low prices, resulting in a downward trend in 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 4250 yuan/ton, while Juneng Special Steel's GCr15 Φ 16-90 is priced at 4040 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, Nangang, and Benxi Iron and Steel have slightly abundant resources, while most traders maintain inventory levels of approximately 800 tons. The mainstream price of GCR15 in the current market remains stable, but there is a small bargaining space in actual transactions. Downstream demand is weak, and procurement is cautious, resulting in a mediocre market trading atmosphere. Due to cost support, steel mills have a strong willingness to raise prices, but insufficient terminal orders are suppressing price increases. Overall, 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 quoted at 4200 yuan/ton, and Daye Special Steel's GCr15 Φ 20-40 is quoted at 4620 yuan/ton.

The price of bearing steel in the Wuxi market is running weakly and steadily, and the market is actively shipping. In the Wuxi market, Zhongtian, Bengang, Yonggang and other bearing steel products 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. However, some merchants have slightly decreased in order to promote transactions. The current social inventory has accumulated slightly, and the pressure on traders to ship has increased. Market sentiment has weakened expectations for the future, with a general 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 4200 yuan/ton, while the quotation for GCr15 Φ 31-90 from Xingcheng Special Steel is 5520 yuan/ton.

The price of bearing steel in the Dalian market is running weakly, and the market's purchasing enthusiasm is insufficient. 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 2000 tons. The current external quotation for bearing steel resources has slightly loosened, and some steel mills are offering discounted shipments. Market prices are under pressure and declining. In terms of emotions, given the weak market performance, merchants are cautious in their operations and have a clear wait-and-see attitude. Overall, there is unlikely to be a significant improvement in short-term demand, and 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 4160 yuan/ton, Dongte Stock's GCr15 Φ 86-180 is priced at 4160 yuan/ton, and Jianlong Beiman's GCr15 Φ 30-75 is priced at 4230 yuan/ton.

The price of bearing steel in Luoyang market is running steadily, with average transactions. 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. Supported by the demand of surrounding terminal industries, local transactions maintain essential procurement, but traders have provided feedback that the overall shipping pace is average and social inventory remains at a reasonable level. Overall, it is expected that the price of bearing steel in the Luoyang market will experience weak consolidation 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 28th to April 1st, a total of 2 steel mills released price adjustment information, with a total of 2 price adjustment information released. Next week, we should continue to pay attention to the impact of consumer demand and steel mill maintenance.

2、 Next week's outlook

This week, the bearing steel market has been running steadily with a slight weakness. Mainstream steel mills have maintained stable quotes, but some traders have made slight concessions due to shipping pressure. Downstream demand has not been significantly released, the pace of market procurement has slowed down, market transactions for individual orders are still acceptable, and there are fewer bulk orders. Overall, it is expected that the market price of bearing steel will continue to remain weakly stable next week.