China’s Baoshan Iron & Steel (Baosteel) has raised its prices for hot-rolled coils (HRC) and hot-dip galvanised steel (HDGI) for September sales on the domestic market, according to BigMint.
The increase amounted to 50 yuan per tonne ($7/t) compared with the previous month. This move is likely driven by expectations of increased restocking by end-users as the summer slump eases and the autumn peak season approaches.
However, current demand remains weak, notes BigMint. Buyers are adopting a cautious purchasing strategy. Furthermore, the extent of the recovery in seasonal demand remains uncertain. Ongoing maintenance work at some steelworks may provide some support for prices. However, sustained growth in prices will depend on whether production activity and restocking by the processing sector improve.
It should be recalled that the Vietnamese steel producer Formosa has cut prices for hot-rolled coils (HRC) by approximately $8/t for September deliveries. The company took this step following Hoa Phat’s lead. This decision reflects weak domestic demand in the country, whilst competitive imports continue to put pressure on the pricing policies of local steelmakers.
As reported by GMK Center, the global market for hot-rolled coils showed mixed trends in July 2026; in China, in particular, a seasonal slowdown, sluggish export activity and a build-up of stock led to a fall in prices.
Courtesy : https://gmk.center/en/news/baosteel-is-raising-its-prices-for-flat-steel-products-for-september-sales/