Weekly Summary: 2025 China Bearing Steel Market Trend in Fifth Week of April Remains generally Stable

Weekly Summary: 2025 China Bearing Steel Market Trend in Fifth Week of April Remains generally Stable

Ⅰ This week's review

【In terms of price】

This week, the price of bearing steel remained generally stable, with an absolute GCr15 price index of 4922 yuan/ton as of today.

【Overview of Major Markets】

The price of bearing steel in Liaocheng market is running weakly and steadily, and the demand release is not obvious. At present, there are abundant spot resources of bearing steel in the Liaocheng market, with stable arrivals from steel mills such as Juneng, Handan Iron and Steel, and Benxi Iron and Steel. Traders' inventories are generally above 1000 tons, and sales pressure is gradually emerging. At present, downstream machinery and automotive industry procurement is weak, with more on-demand small order purchases and weak market transactions. Some traders are offering small discounts to promote transactions. 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 4220 yuan/ton, while Juneng Special Steel's GCr15 Φ 16-90 is priced at 3970 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, resources such as Zhongtian, Nangang, and Benxi Iron and Steel have abundant supply, and most traders maintain inventory at around 800 tons. The overall inventory pressure in the market is still acceptable, but the destocking speed is slow. Downstream industries such as machinery and automobiles have a low willingness to purchase, and terminals replenish goods as needed. Market transactions are mainly small orders, and the trading atmosphere is relatively weak. The steel mills maintain normal production, but the order volume has decreased and the inventory in the factory has slightly increased. Some steel mills have maintenance plans in May, which may affect the production of some bearing steel. As of press time, Zhongtian Steel's GCr15 Φ 40-140 is priced at 4150 yuan/ton, while Daye Special Steel's GCr15 Φ 20-40 is priced at 4610 yuan/ton.

The price of bearing steel in the Wuxi market is weak and consolidating, with average transactions. In the Wuxi market, major steel mills such as Zhongtian, Nangang, Benxi Iron and Steel, Yonggang, etc. have sufficient supply, and traders' inventories are generally maintained at a level of over 1000 tons, while social inventories are at a medium to high level. In terms of demand, the prosperity of the mechanical manufacturing industry is relatively low, and the demand for bearing matching has weakened. In terms of the market, traders have a strong willingness to ship, but the situation of accepting orders is not ideal, and end users generally adopt an "on-demand procurement" strategy. Overall, it is expected that the price of bearing steel in the Wuxi market will continue to be under pressure in the short term. As of press time, the current quotation for GCr15 Φ 40-140 from Zhongtian Steel is 4150 yuan/ton, and the quotation for GCr15 Φ 31-90 from Xingcheng Special Steel is 5500 yuan/ton.

The price of bearing steel in the Dalian market is operating steadily, with average transactions. The main steel mills in the Dalian market have sufficient supply of resources such as Benxi Iron and Steel, Dongte, and Jianlong Beiman. Large scale traders maintain inventory of around 1000 tons. At present, the demand for manufacturing in Northeast China is stable, and local terminal enterprises purchase according to demand, resulting in a relatively balanced market supply and demand relationship. In terms of steel mills, the supply remains stable. Overall, it is expected that there will be no significant fluctuations in downstream demand in the short term, 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 4120 yuan/ton, Dongte Stock's GCr15 Φ 86-180 is priced at 4120 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 weakly and steadily, with weak 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. Market trading maintains a pace of essential demand. Although the demand in the surrounding machinery manufacturing industry is still acceptable, local terminal enterprises are still cautious in procurement, and the shipment volume of traders remains the same as last week, while social inventory remains at a reasonable level. As the end of the month approaches, the financial pressure on traders is becoming apparent, leading to an increase in the phenomenon of discounted shipments. Overall, the Luoyang bearing steel market is currently in a "weak balance" state, and it is expected that prices will maintain a narrow range of fluctuations in the short term without significant improvement in demand. As of the time of writing, Jiyuan Steel's GCr15 Φ 6.5-23 is quoted at 4430 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 April 25th to April 30th, no steel mills have released price adjustment information for this period. We should continue to pay attention to the impact of consumer demand and steel mill maintenance next week.

Ⅱ Next week's outlook

This week, the prices of bearing steel in the national market remained generally stable, but there were slight regional differences in trends. The demand side performance is average, with the mechanical and automotive industries purchasing on demand, and export orders slightly declining due to the weak overseas market. The bearing steel market is in a "weak equilibrium" state, and under the game of cost support and weak demand, it is expected that prices will continue to maintain a narrow range of fluctuations next week.