Since the second half of 2020, affected by multiple factors, bearing raw materials have increased significantly. At the end of the year, the price of bearing steel has increased by nearly 30%. Bearing steel has a net increase of 1300 yuan per ton, while bearing steel pipe has a net increase of 2800 yuan per ton. By the end of January 2021, bearing steel has increased by another 300 yuan per ton, with an increase of 35.6%. Coupled with the impact of the rising prices of various raw materials, the prices of related transportation, packaging and other related materials have increased.

The prices of bearing steel, cage steel plate, copper, zinc and other raw materials for bearing have been soaring, which has caused great difficulties to the production and operation of bearing enterprises.
Affected by the size and structure complexity of bearings, the direct cost of bearing materials generally accounts for about 50% – 70% of the total cost. Therefore, the direct cost of bearing caused by price increase is about 18% – 24%, which does not include the rise of auxiliary materials such as lubrication, packaging and transportation.

Rising raw material prices:

The following is the price increase notice of China’s major steel mills:

Since the beginning of 2021, commodities and raw materials have been rising like “doping”! “Price increase letters” are flying all over the world, just because: copper is up 38%, plastic is up 35%, aluminum is up 37%, iron is up 30%, glass is up 30%, zinc alloy is up 48%, and stainless steel is up 45%. Even bearing brands have to raise their prices one after another:

The following is the notice of the price increase of the major brands of bearings：