Bearing Steel Market Analysis for November 2020

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Issue Time: Dec 15,2020

Summary

But given that the current market price is relatively high. It will relatively limit the later price upside space. Until October, the market still rise.

Bearing Steel Market Analysis for November 2020

Bearing steel is the steel people use to make balls, rollers, and bearing rings. Bearing steel has a high and uniform hardness and wear resistance, as well as a high elastic limit. Bearing steel is one of the most demanding steel grades in all steel production. The output of domestic crude steel bearing steel increased by 3.68% year-on-year from 1-9 and the output of bearing steel fell 0.85% year-on-year. Until October, the market price of bearing steel still rose slightly.

But given that the current market price is relatively high. It will relatively limit the later price upside space. Therefore, the upward trend of the bearing steel market will slow down in November.

China's domestic bearing steel production

January-September production: crude bearing steel increased year-on-year, while steel decreased year-on-year. During the period between January to September 2020, the output of crude steel bearing steel in China main high-quality special steel enterprises is 2,793,300 tons. And, an increase of 3.68% compared to the same period last year. From 1-9 2020, the output of bearing steel in China's main high-quality special steel enterprises is 2,364,600 tons. Decrease by 0.85% compared with the same period last year.

Related market information

The supply and demand pattern of imported iron ore weakened marginally in October. On the whole, the gap between iron ore supply and demand widened in November, and prices are still low. The general carbon scrap market fluctuates at a high level. Higher rebar prices and tight scrap supply affected the scrap prices.