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Bearing steel market prices may continue to rise in May
  • From January to March, domestic crude steel production of bearing steel increased by 23.97% year-on-year, and the output of bearing steel increased by 17.08% year-on-year. Looking back at the bearing steel market in April, the domestic bearing steel market prices continued to rise, driven by the rising cost of steel mills and the strengthening of the futures market in late April. Up to now, the average price of domestic bearing round steel 50mm (continuous casting) is 6255 yuan/ton, an increase of 155 yuan/ton from the end of March, an increase of 2.54% month-on-month. At present, downstream procurement costs have increased significantly compared with previous years. Excessive capital pressure has led to a slight slowdown in downstream procurement efforts, and the overall acceptance of high levels by terminal enterprises is low. With the announcement of the cancellation of export tax rebates for steel products, enterprises are more concerned about the subsequent impact on the export of bearing steel. However, in the recent stage, under the background of good fundamentals and high demand, under the stimulus of the continuous increase in the price of high-quality steel, it is expected that the market price of bearing steel in May may continue to rise.