Weekly Summary: 2025 China Bearing Steel Market Trend in First Week of November is Weak and Fluctuating

  Weekly Summary: 2025 China Bearing Steel Market Trend in First Week of November is Weak and Fluctuating

1、 This week's review

【In terms of price】

This week, the price of bearing steel fluctuated weakly, with the absolute price index of GCr15 as of today at 4867 yuan/ton.

【Overview of Major Markets】

The price of bearing steel in Liaocheng market has fluctuated downward. At present, the market has sufficient spot resources, and steel mills such as Juneng, Handan Iron and Steel, Ausen, and Ronggang have stable arrivals. Traders' inventories are generally maintained at around 1000 tons, and the supply side remains stable. Currently, the Liaocheng bearing steel market is in a supply-demand game stage, with the price center gradually declining. Traders are becoming increasingly cautious and generally adopt an on-demand replenishment strategy to reduce risks. The prices of high-end products or specific specifications of bearing steel are still relatively firm, while some ordinary specifications are facing certain sales pressure and prices are slowly declining. Overall, it is expected that the price of bearing steel in Liaocheng market will remain weak and stable next week. As of press time, Jiyuan Steel's GCr15 Φ 30-75 is quoted at 4000 yuan/ton, and Juneng Special Steel's GCr15 Φ 16-90 is quoted at 3720 yuan/ton.

The price of Hangzhou bearing steel market is weak and fluctuating. In terms of spot inventory, mainstream resources such as Zhongtian and Nangang have sufficient supply, and most traders' inventory remains stable at the level of thousands of tons. At present, the lack of downstream terminal consumption power and sluggish purchasing willingness are key factors restricting price rebound. The overall mentality of traders is becoming more cautious, and some merchants have taken small concession measures for some specifications of resources to accelerate transactions and alleviate inventory pressure. Overall, it is expected that the price of bearing steel in Hangzhou will remain weak and stable in the short term. As of press time, Zhongtian Steel's GCr15 Φ 40-140 quotation is 3990 yuan/ton, and Daye Special Steel's GCr15 Φ 20-40 quotation is 4700 yuan/ton.

The mainstream price of bearing steel in the Wuxi market is relatively 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. The overall bearing steel market in Wuxi is showing a trend of oscillation and weak operation. After experiencing a high-level consolidation in the early stage, the market price experienced a slight correction. The demand for orders in downstream industries such as automobiles, home appliances, and machinery manufacturing has not experienced explosive growth, and is mainly based on on-demand procurement. The acceptance of high priced resources is limited, resulting in lukewarm market transactions and difficulty in forming strong support for prices. Overall, in the absence of substantial improvement in demand, the price of bearing steel in the Wuxi market may continue to be weak in the short term. As of press time, Zhongtian Steel's GCr15 Φ 40-140 quotation is 3990 yuan/ton, and Xingcheng Special Steel's GCr15 Φ 31-90 quotation is 5560 yuan/ton.

The price of bearing steel in Dalian market is mainly 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. At present, the support for upstream raw material prices has weakened, and the driving effect on the cost side has slowed down. The weak downstream terminal consumption and weak purchasing willingness constitute the key suppressing factors for price rebound. Local terminal enterprises mainly purchase in small quantities for essential needs, which makes it difficult to digest market resources. 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 maintain a weak and stable trend. 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 4190 yuan/ton.

The price of bearing steel in Luoyang market is running weakly and steadily. Recently, the local market has had sufficient supply of Jiyuan Steel and Daye Special Steel resources, and the inventory of traders remains around 500 tons. This week, spot prices have fluctuated downward with the mainstream trend, and weak demand has had a significant suppressive effect on market prices. Traders' quotes have slightly loosened, but the actual trading atmosphere is still relatively light. To promote shipment, spot prices generally fluctuate with market conditions. It is expected that the price of bearing steel will maintain a weak stable pattern in the short term. As of press time, Jiyuan Iron and Steel GCr15 Φ 6.5-23 is currently reported at 4290 yuan/ton, Daye Special Steel GCr15 Φ 20-40 is currently reported at 4680 yuan/ton, and Hegang Stone Steel GCr15 Φ 131-180 is currently reported at 4200 yuan/ton.

【Regarding steel mills】

From October 31st to November 6th, 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.

2、 Next week's outlook

This week, the national bearing steel market prices have been running weakly. At present, downstream industries such as automobiles and machinery manufacturing generally adopt on-demand procurement strategies, lacking proactive stocking power. Traders generally have weak expectations for the future, so they have a strong willingness to actively ship. Due to inventory pressure, some merchants have made slight discounts and promotions, resulting in a price drop of around 20 yuan/ton. Based on the comprehensive analysis of supply and demand, it is expected that the price of bearing steel will maintain a weak and volatile pattern next week.