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

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

Ⅰ 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 1500 tons, and the market generally reflects oversupply, leading to increasing sales pressure for businesses. At present, there is a shortage of orders in the downstream steel industries such as machinery and automobiles, and procurement is mainly based on "small orders according to demand", lacking the power to stock in bulk. The overall price has slightly decreased by about 20 yuan/ton compared to last week, and some merchants have increased their bargaining space 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 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, but the transaction volume is still acceptable. 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 1000 tons without serious backlog. However, insufficient demand release has led to slow destocking. This week, the price of bearing steel in the Hangzhou market has slightly increased, but downstream procurement enthusiasm is not high, and bulk replenishment is required. Under financial pressure, some merchants have the willingness to actively lower prices and reduce inventory, leading to a differentiated market mentality. 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 quoted at 4200 yuan/ton, and Daye Special Steel's GCr15 Φ 20-40 is quoted at 4650 yuan/ton.

The prices of bearing steel in the Wuxi market have been individually raised, and transactions have improved. 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, shipments this week have improved compared to the previous week, but the enthusiasm for terminal procurement is not high, and terminal users generally adopt the strategy of "buying in batches at low prices", 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 4200 yuan/ton, and the quotation for GCr15 Φ 31-90 from Xingcheng Special Steel is 5580 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 the Northeast region is stable, and local terminal enterprises generally adopt a cautious attitude, purchasing on demand. The willingness of merchants to replenish inventory is weak, waiting for further signals from macro policies. 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 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. The Luoyang bearing steel market continues to be supported by fundamental demand. The orders of the peripheral machinery manufacturing industry remain stable, but the purchasing momentum of local end-users is relatively restrained. The daily average shipment volume of traders is basically the same as last week, and the social inventory level continues to be within a reasonable range. Overall, in the absence of a trend recovery signal on the demand side, it is expected that spot prices will continue to fluctuate in a narrow range. As of the time of writing, Jiyuan Steel's GCr15 Φ 6.5-23 is quoted at 4440 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 16th to May 23rd, 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.

Ⅱ Next week's outlook

This week, the prices of bearing steel in the national market fluctuated, but there was slight differentiation in the trend between regions. Prices in the southern region were still acceptable, while prices in the northern region fell slightly. In terms of the market, end customers have a cautious mentality and adopt batch purchases at low prices. There are few bulk orders on the market, and the short-term market is still suppressed by demand. Overall, if there is no significant increase in downstream orders, the local market may experience a downturn, but the decline is limited due to cost support.