Weekly Summary: 2025 China Bearing Steel Market Trend in Second Week of October is Running weakly and steadily

Weekly Summary: 2025 China Bearing Steel Market Trend in Second Week of October is Running weakly and steadily

Ⅰ This week's review

【In terms of price】

This week, the price of bearing steel has been running weakly and steadily. As of today, the absolute price index of GCr15 is 4870 yuan/ton.

【Overview of Major Markets】

The price of bearing steel in Liaocheng market is running weakly and steadily, and merchants are operating cautiously. At present, the Liaocheng market has more spot bearing steel resources from steel mills such as Juneng and Jiyuan, and the market inventory remains at a median level. Several traders maintain inventory at around 1000 tons. At present, some resources have slightly loosened. The overall transaction performance of the market is average, with limited new orders from downstream bearing companies. Most companies maintain rigid procurement and have a low acceptance of high priced resources. The market has a strong wait-and-see atmosphere, and traders are cautious in their operations, mainly focusing on shipping. Overall, it is expected that the price of bearing steel in the Liaocheng market will remain weak in the short term. Currently, Jiyuan Steel's GCr15 Φ 30-75 is priced at 4020 yuan/ton, while Juneng Special Steel's GCr15 Φ 16-90 is priced at 3790 yuan/ton.

The price of bearing steel in the Hangzhou market is running weakly and steadily, with average transactions. The spot inventory in the Hangzhou market is slightly higher with the resources of Zhongtian Steel and Nanjing Steel, and most traders maintain a stock of around 500 tons. In terms of market supply and demand, downstream procurement is still mainly based on demand, and end enterprises face significant financial pressure and weak willingness to stock up. The actual demand has not been released as expected, and the market has a strong wait-and-see attitude. In terms of emotions, given the lack of significant improvement in transactions, merchants are adopting a cautious and wait-and-see attitude towards the future market. Overall, it is expected that the price of bearing steel in the Hangzhou market will fluctuate and weaken in the short term. As of press time, Zhongtian Steel's GCr15 Φ 40-140 is quoted at 4040 yuan/ton, and Daye Special Steel's GCr15 Φ 20-40 is quoted at 4700 yuan/ton.

The price of bearing steel in the Wuxi market is running weakly, and the willingness to replenish inventory is weak. The spot market in Wuxi has more resources from Zhongtian Steel, Xingcheng Special Steel, and Benxi Iron and Steel, with most traders having inventory of around 800 tons. In terms of the market, the transaction performance is relatively flat. Downstream terminal enterprises continue to have rigid demand for procurement, and merchants are cautious in their mentality. Considering the cost support, the quotation is relatively stable. However, some merchants, in order to cash out, loosen their own quotations to promote transactions. In terms of inventory, market resources are circulating normally, and social inventory is at a normal level. Overall, it is expected that the price of bearing steel in the Wuxi market will fluctuate narrowly in the short term. As of the time of writing, Zhongtian Steel's GCr15 Φ 40-140 is quoted at 4040 yuan/ton, and Xingcheng Special Steel's GCr15 Φ 31-90 is quoted at 5650 yuan/ton.

The price of bearing steel in Luoyang market is running weakly, with average transactions. Recently, there has been ample supply of Jiyuan Steel, Daye Special Steel, and Hegang Stone Steel in the Luoyang market, with some traders holding around 1000 tons of inventory. The black market is oscillating, downstream terminal enterprises continue to make essential purchases, and market activity has decreased. Although traders have seen a slight decrease in shipments, market transactions have not significantly improved. Considering the recent small changes in raw material costs and the need for demand recovery, it is expected that the price of Luoyang bearing steel will remain stable next week. As of the time of writing, Jiyuan Steel's GCr15 Φ 6.5-23 is quoted at 4150 yuan/ton, and Daye Special Steel's GCr15 Φ 20-40 is quoted at 4700 yuan/ton.

The price of bearing steel in the Dalian market is currently stable, but the demand is poor. In the Dalian market, Benxi Iron and Steel, Dongte Shares, and Jianlong Beiman have abundant sources of goods, with large-scale traders having inventory of around 1000 tons. The downstream terminal procurement is insufficient, the market atmosphere is cold, and the market transactions are average. At present, the cost side continues to provide support, but insufficient demand follow-up restricts the upward space of prices. In terms of emotions, as the weather gradually cools down and demand is unlikely to improve in the short term, many businesses are adopting a wait-and-see attitude. In terms of inventory, merchants are replenishing their inventory normally, while social inventory remains stable. Overall, it is expected that the price of bearing steel in the Dalian market will remain weakly stable next week. Currently, Bengang Special Steel's GCr15 Φ 81-130 is priced at 4090 yuan/ton, Dongte Stock's GCr15 Φ 86-180 is priced at 4090 yuan/ton, and Jianlong Beiman's GCr15 Φ 30-75 is priced at 4190 yuan/ton.

【Regarding steel mills】

From October 11th to October 17th, 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

The market price of bearing steel has remained stable this week. At present, downstream procurement is still mainly based on demand, and there is significant financial pressure on end-users, resulting in average transactions. In terms of inventory, some steel mills have undergone maintenance this month, and the supply pressure has improved. Businesses are replenishing their inventory as needed, while some businesses are reducing their inventory to ensure cash flow. Currently, social inventory is at a moderate to low level. The current market is still dominated by demand. Overall, it is expected that the market price of bearing steel will fluctuate narrowly next week.