Posted on 11 Jul 2025
Baoshan Iron & Steel Co (Baosteel), the listed arm of the world's top steelmaker China Baowu Steel Group, has decided to raise the list prices of its carbon hot-rolled coil (HRC) by Yuan 100/tonne ($14/t) for domestic sales in August, according to the company's latest pricing announcement issued on July 9.
Baosteel's price revision for August sales
Product | Price adjustment |
Hot-rolled coils | 100 |
Carbon steel plates | 100 |
Pickled and oiled coils | 100 |
Cold-rolled coils | 100 |
Hot-dipped galvanized steel | 100 |
Electro-galvanized steel | 100 |
Color-coated coils | 100 |
Non-grain oriented electrical steel | 100 |
Grain oriented electrical steel | - |
Source: Baosteel
Baosteel had kept its HRC list prices unchanged for domestic sales over April-July, as Mysteel Global reported.
Meanwhile, Baosteel's list prices of other major steel products such as cold-rolled coil (CRC), carbon steel plates, galvanized steel and non-grain oriented electrical steel have also been raised by Yuan 100/t for August sales, the company's release showed.
The decision suggested an improved market sentiment with expectations for a recovery in demand, a market watcher in Shanghai said. Steel end-users may return to the market for replenishment after consuming their in-plant stocks over the previous several months, she remarked.
Earlier this month, China's Central Financial and Economic Affairs Commission had called for a crackdown on the "involution-style" competition among enterprises and a phasing out of obsolete industrial capacity, as reported. This also eased the negative sentiment in the domestic steel market, as reported.
In parallel, HRC inventories at traders' warehouses have not accumulated to any significant extent, despite the slowdown in steel consumption in summer, Mysteel data shows. This has also encouraged some Chinese mills to attempt to raise their list prices to stimulate restocking, sources said.
Mysteel's weekly survey showed that HRC inventories at traders' warehouses in the 55 Chinese cities under its regular tracking reached 3.55 million tonnes as of July 3, lower by 1% from one month earlier and plunging by 22% on year.
China's spot prices of HRC have recovered slightly this month, with the national average price of Q235 4.75mm HRC under Mysteel's assessment reaching Yuan 3,253/t including the 13% VAT as of July 9, higher by Yuan 22/t from the end of June.
Earlier on July 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 list price of Q235 5.5*1500mm HRC at Yuan 3,450/t for July sales and that for its SPHC 4*1250mm HRC is at Yuan 3,460/t, both unchanged from June.
Source:Mysteel Global
