Roundup of China's Bearing Steel Market Dated Oct. 21 to 28
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Oct 31,2005
Bearing Steel Market Alarming Conference was held by China Special Steel Association--Market Alarming Panel in Beijing on Oct. 27. It was attended by some leading domestic bearing steel manufacturers such as Dongbei Special Steel Group(DSSG), Baosteel Special Steel Group(BSSG), Xingcheng Special Steel Group(XSSG), Hubei Xin Yegang Co.,Ltd(HXYC), Jiangsu Xigang Steel Group(JXSG), Zhenzhou Yongtong Special Steel(ZYSS). The main purpose of this conference is to call for an overall limitation in production of low-end bearing steel among the domestic major manufacturers and remain the price bottom-line of at least 4000yuan/ton.
During the conference, mills had reached an agreement on the following items:
1. Limitation
The major mills had agreed to cut their output by a rate of 12500tons/month in the following 2 months in 2005. The detailed quantity every mill will cut is like the following: DSSG 3000tons/month; ZYSS 3000tons/month; BSSG 2000tons/month; XSSG 2000tons/month; JXSG 1500tons/month; HXYC 1000tons/month.
2. Cost
Setting average cost to the same level of about 4000yuan/ton, including casting and rolling processes.
3. Self-discipline
Standardizing sales process; prohibitting disguizing price cut.
4. Quality
Making sure Oxygen Tension no higher than 10ppm.
5. Technology
Upgrading technologies to develop high-end bearing steel, expand export and substitute for import bearing steel.
China bearing steel price continued slight sliding in the last week(Oct. 21-28) within the fluctuation range between 100 and 150 yuan. Poor consumers demand led to the price slippage especially in Northern China such as Shenyang, Harbin etc. Statistically, decreasing profitability of Automobile manufacturing during the first-half brought a direct impact to the market condition of bearing steel. In addition, few brand strategy was so effectively carried out to drive the export value of bearing steel.
(cbcc)
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