Weekly Summary: 2025 China Bearing Steel Market Trend in First Week of September is stable but under pressure

Weekly Summary: 2025 China Bearing Steel Market Trend in First Week of September is stable but under pressure

1、 This week's review

In terms of price

This week, the price of bearing steel remained stable and under pressure. As of today, the absolute price index of GCr15 is 4882 yuan/ton.

Overview of Major Markets

The price of bearing steel in Liaocheng market is running weakly and steadily. At present, the market has sufficient spot resources, and steel mills such as Juneng, Handan Iron and Steel, and Ausen have stable arrivals. Traders' inventories are generally maintained at around 1000 tons, and the overall supply side is stable. The tug of war between high raw material costs and downstream on-demand procurement has put the bearing steel market in a dilemma of ups and downs. The purchasing willingness of downstream bearing manufacturing enterprises is generally weak, and most enterprises adopt the strategy of "on-demand procurement". It is expected that the price of bearing steel in Liaocheng market will fluctuate narrowly next week. As of press time, Jiyuan Steel's GCr15 Φ 30-75 is reported at 4030 yuan/ton, and Juneng Special Steel's GCr15 Φ 16-90 is reported at 3820 yuan/ton.

The price of bearing steel in the Hangzhou market is temporarily stable. In terms of spot inventory, resources such as Zhongtian, Nangang, and Benxi Iron and Steel have sufficient supply, and most traders' inventory remains stable at around 1000 tons. The rise in raw material costs provides bottom support for bearing steel prices, but limited downstream acceptance suppresses the potential for price increases. According to customer feedback, the overall inventory pressure in the market is controllable, but the influx of external resources has led to an increase in market resources and intensified price competition. 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. As of press time, Zhongtian Steel's GCr15 Φ 40-140 quotation is 4100 yuan/ton, and Daye Special Steel's GCr15 Φ 20-40 quotation is 4730 yuan/ton.

The mainstream price of bearing steel in the Wuxi market remains stable, with some resources experiencing slight fluctuations. The main steel plant resources in the local market, such as Zhongtian, Nangang, Benxi Iron and Steel, Yonggang, etc., have stable supply, and the inventory of traders is generally maintained at about 800 tons, while the social inventory is at a normal level. At present, terminal procurement is mainly based on "small orders on demand", and overall transaction performance is poor. Considering the rapid changes in market prices, merchants are cautious in their operations and have weak willingness to reserve inventory. Overall, with poor demand improvement, the price of bearing steel in the Wuxi market is expected to remain stable and weaken in the short term. As of press time, Zhongtian Steel's GCr15 Φ 40-140 quotation is 4100 yuan/ton, and Xingcheng Special Steel's GCr15 Φ 31-90 quotation is 5600 yuan/ton.

The price of bearing steel in Dalian market remains stable. The main steel mills in the Dalian market, including Benxi Iron and Steel, Dongte, and Jianlong Beiman, have sufficient overall supply, and the inventory scale of large-scale traders is maintained at around 1500 tons. According to the current market situation, local terminal enterprises continue to adopt an on-demand procurement strategy, and the market supply and demand relationship is relatively balanced, with prices being negotiated on a single basis. Although raw material prices are high, weak demand limits price transmission, resulting in prices mostly running steadily. Overall, it is expected that downstream demand will remain stable in the short term, and the price of bearing steel in the Dalian market may remain stable. The current quotation for Bengang Special Steel GCr15 Φ 81-130 is 4090 yuan/ton, Dongte Stock GCr15 Φ 86-180 is 4090 yuan/ton, and Jianlong Beiman GCr15 Φ 30-75 is 4200 yuan/ton.

The price of bearing steel in Luoyang market is running weakly and steadily. Recently, the local market has relatively abundant supply of Jiyuan Steel and Daye Special Steel resources, and the inventory of traders remains at around 500 tons. At present, the procurement mode of downstream industries such as automobiles and machinery manufacturing is mainly based on on-demand procurement, and merchants have a cautious mentality, so there is little room for price changes. If the demand remains stable, it is expected that the short-term price of bearing steel will be mainly stable. As of press time, Jiyuan Iron and Steel GCr15 Φ 6.5-23 is currently reported at 4340 yuan/ton, Daye Special Steel GCr15 Φ 20-40 is currently reported at 4700 yuan/ton, and Hegang Stone Steel GCr15 Φ 131-180 is currently reported at 4200 yuan/ton.

Regarding steel mills

From August 29th to September 5th, a total of one steel mill released price adjustment information, with a total of one release. 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 price of bearing steel in the national market remained stable and under pressure. Mainstream steel mills' quotations remain stable, but traders have a strong willingness to ship, with some offering slight discounts due to shipping pressure. Terminal procurement still adheres to the "small orders on demand" strategy, and the current market sentiment is somewhat cautious. It is expected that the price of bearing steel will remain stable next week, showing a range oscillation trend.