News Room - Steel Industry

Posted on 13 May 2025

Baosteel rolls over HRC list prices again for June sales

Baoshan Iron & Steel Co (Baosteel), the listed arm of the world's top steelmaker China Baowu Steel Group, has decided to roll over the list prices of its carbon hot-rolled coil (HRC) for domestic sales in June, according to the company's latest pricing announcement issued on May 9. The company has now kept its HRC list prices stable for three successive months, Mysteel Global noted.

The company is unwilling to reduce its list prices, given its shrinking profit margins when domestic prices of flat steel have been hovering low recently, an analyst in Shanghai said.

For example, China's national average price of Q235 4.75mm HRC under Mysteel's assessment came in at Yuan 3,306/tonne ($458/t) including the 13% VAT as of May 9, down by Yuan 12/t on month or slipping by Yuan 103/t from the beginning of April.

However, the prices lack the impetus to move up, as demand from users is expected to decline during June when the summer lull usually reduces steel consumption.

Domestic steel mills may face more pressure in securing new orders next month, as users are cautious about building up stocks, given the seasonal weakness in demand. Meanwhile, the growing challenges that Chinese automobiles and home appliances face in export sales may affect the orders of cold-rolled coil, the analyst noted.

In parallel, HRC exports may stay under pressure as China's export prices are not so competitive in the global market, he added.

Baosteel does not disclose the actual list prices of its products in its monthly pricing policies and usually gives just the margin of price adjustment, Mysteel Global notes.

Earlier on May 1, Shagang Group (Shagang), China's largest privately-owned producer headquartered in Zhangjiagang in East China's Jiangsu province, announced that it was keeping its Q235 5.5*1500mm HRC at Yuan 3,550/t for May sales, the same level from the prior month, as reported. Shagang's price of SPHC 4*1250mm HRC also stays unchanged on month at Yuan 3,560/t.

Source:Mysteel Global