Weekly Summary: 2025 China Bearing Steel Market Trend in Second Week of May is Fluctuating

Weekly Summary: 2025 China Bearing Steel Market Trend in Second Week of May is Fluctuating

1、 This week's review

【In terms of price】

This week, the price of bearing steel fluctuated, and as of today, the absolute price index of GCr15 is 4914 yuan/ton.

【Overview of Major Markets】

The price of bearing steel in Liaocheng market is running weakly and steadily. 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 the market generally reflects oversupply, leading to increasing sales pressure for businesses. At present, there is a shortage of orders in downstream industries such as machinery and automobiles, and procurement is mainly based on "small orders according to demand", lacking the power to stock up in bulk. 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 4200 yuan/ton, while Juneng Special Steel's GCr15 Φ 16-90 is priced at 3950 yuan/ton.

The price of bearing steel in the Hangzhou market has slightly increased, 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 without serious backlog. However, insufficient demand release has led to slow destocking. Recently, the price of bearing steel in the Hangzhou market has slightly increased, but downstream purchasing enthusiasm is not high. Terminals replenish as needed, and market transactions are mainly small orders. The trading atmosphere is weak, and some steel mills have maintenance plans in May, which may affect the production of some bearing steel. Overall, it is expected that the price of bearing steel in Liaocheng market will mainly consolidate weakly next week. As of press time, Zhongtian Steel's GCr15 Φ 40-140 is reported at 4180 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 has increased slightly, but the transaction volume is average. 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 face significant shipping pressure, but their enthusiasm for terminal procurement is not high, and end users generally adopt an "on-demand procurement" strategy. Market transactions are mainly small orders, lacking support for bulk transactions. Overall, it is expected that the price of bearing steel in the Wuxi market will be under pressure in the short term. As of press time, the current quotation for GCr15 Φ 40-140 from Zhongtian Steel is 4180 yuan/ton, and the quotation for GCr15 Φ 31-90 from Xingcheng Special Steel is 5550 yuan/ton.

The price of bearing steel in Dalian market is running weakly and 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. Overall, it is expected that there will be no significant fluctuations in downstream demand in the short term, and the price of bearing steel in the Dalian market is expected to 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. 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 4600 yuan/ton, and Hegang Stone Steel's GCr15 Φ 131-180 is quoted at 4210 yuan/ton.

【Regarding steel mills】

From May 9th to May 16th, no steel mills have released any price adjustment information for this period. We should continue to pay attention to the impact of consumer demand and steel mill maintenance next week.

2、 Next week's outlook

This week, the prices of bearing steel in the national market fluctuated, but there were slight regional differences in trends. The demand side performance is average, with on-demand procurement in the mechanical and automotive industries and few bulk orders on the market. The bearing steel market is in a "weak balance" state, and in the short term, the market is still suppressed by high inventory and weak demand, and prices may fluctuate and consolidate. If downstream orders do not improve, the local market may continue to decline, but the decline is limited due to cost support.