Baoshan Iron & Steel (Baosteel), a subsidiary of the world’s leading steel producer China Baowu Steel Group, is raising prices for hot-rolled coil (HRC) by 100 yuan per ton ($14/t) for domestic sales in August. This was reported by Mysteel.
For four consecutive months (April-July), the company kept its flat steel prices unchanged. The exception was February, when Baosteel raised them by 100 yuan per ton ($14/t) for March sales ahead of the peak season.
The company’s latest move reflects pressure on costs and a cautious improvement in demand forecasts, notes steel trader Michael Zhao.
HRC production among 37 Chinese steelmakers regularly, tracked by Mysteel, totaled 3.28 million tons during the period from June 26 to July 2, up 0.3% from the previous week. This was the third consecutive weekly increase.
In June 2025, there was an imbalance in the hot-rolled coil market. In the US, domestic producers managed to raise prices thanks to Trump’s tariffs. In China and the European Union, however, the market remained weak: low consumer activity, inventory buildup, and fierce competition forced sellers to lower their prices. Despite slight signs of stabilization at the end of the month, the overall market sentiment remained cautious.
Prices for hot-rolled coil in China fell by 1.6% in June – to $475.5/t FOB.
