Weekly Summary: 2025 China Bearing Steel Market Trend in Fourth Week of November is mainly Stable

Weekly Summary: 2025 China Bearing Steel Market Trend in Fourth Week of November is mainly Stable

1、 This week's review

In terms of price

This week, the price of bearing steel has remained stable, with an absolute GCr15 price index of 4867 yuan/ton as of today.

Overview of Major Markets

The price of bearing steel in Liaocheng market has fluctuated downward. The current market has ample spot supply, with stable arrivals from steel mills such as Juneng, Handan Iron and Steel, and Ausen. Traders' inventories are generally maintained at around 1000 tons, and the supply side remains stable. At present, the Liaocheng bearing steel market is in a supply-demand game stage, and traders are becoming increasingly cautious, generally adopting a strategy of replenishing inventory on demand to reduce risks. The prices of high-end products or specific specifications of bearing steel have remained relatively firm, while some ordinary specifications are facing sales pressure and are being shipped to the market. 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 quoted at 3970 yuan/ton, and Juneng Special Steel's GCr15 Φ 16-90 is quoted at 3690 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 overall inventory pressure in the market is moderate, but the speed of inventory digestion is slow. End users replenish based on demand, and market transactions are mainly small orders, mostly in a "single item negotiation" mode. Overall, it is expected that the price of bearing steel in Hangzhou will be under pressure in the short term. As of press time, Zhongtian Steel's GCr15 Φ 40-140 quotation is 3980 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. At present, the demand for orders in downstream industries such as automobiles, home appliances, and machinery manufacturing has not significantly increased. The market is mainly based on on-demand procurement, with limited acceptance of high priced resources. In addition, end users generally adopt the "on-demand procurement" strategy, and traders' overall mentality is becoming more cautious. Merchants generally adopt the "fast in, fast out" strategy. Overall, in the absence of substantial improvement in demand, the price of bearing steel in the Wuxi market may continue to be under pressure in the short term. As of press time, Zhongtian Steel's GCr15 Φ 40-140 quotation is 3980 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 demand for manufacturing in Northeast China remains stable, and local terminal enterprises purchase in an orderly manner according to demand, resulting in a basic balance between market supply and demand. Overall, it is expected that the price of bearing steel in the Dalian market will continue to operate steadily without significant fluctuations in downstream demand in the short term. The current quotation for Bengang Special Steel GCr15 Φ 81-130 is 4080 yuan/ton, Dongte Stock GCr15 Φ 86-180 is 4080 yuan/ton, and Jianlong Beiman GCr15 Φ 30-75 is 4180 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. At present, downstream terminal consumption is generally average, with on-demand procurement as the main factor, which constitutes a key suppressing factor for price rebound. The shipment volume of traders remained unchanged from last week, and social inventory remained at a reasonable level. As the end of the month approaches, the financial pressure on traders is becoming apparent, leading to an increase in the phenomenon of discounted shipments. Overall, it is expected that the price of bearing steel will remain weakly stable in the short term. As of press time, Jiyuan Iron and Steel GCr15 Φ 6.5-23 is currently reported at 4290 yuan/ton, and Daye Special Steel GCr15 Φ 20-40 is currently reported at 4680 yuan/ton.

Regarding steel mills

From November 21st to November 28th, 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 price of bearing steel in the national market is mainly stable. This week's spot prices have followed the market trend, and the price difference between regions has narrowed. Affected by high raw material prices and some steel mills' production schedules, the supply pressure has slightly eased. However, considering weak demand, it is expected that the price of bearing steel will be under pressure next week.