Posted on 14 Jul 2026
Baoshan Iron & Steel Co (Baosteel), the listed arm of the world’s top steelmaker China Baowu Steel Group, is raising the list prices for its major flat-rolled products including hot-rolled coil (HRC) by Yuan 50/tonne ($7.4/t) for domestic sales in August, according to the company’s latest pricing announcement issued late on July 10.
Baosteel had rolled over its list prices for major flat steel products for July sales, as reported. "The upward adjustments for August partly reflect the steel major's expectations for improving downstream demand going forward," said a Shanghai-based ferrous analyst.
Mysteel's latest survey shows that although steel mills are facing some pressure in securing new orders from downstream manufacturing sectors, most haven't seen a sharp decline in order bookings. With end-users' hot coil stocks remaining at relatively low levels, their restocking needs, together with expectations for gradual demand recovery in the coming months, have encouraged Baosteel to raise its flat steel list prices for August's sales, according to the analyst.
On the supply side, as elevated input costs keep squeezing steel mills' profit margins lately, some mills start to scale back their production by conducting maintenance stoppages in order to reduce losses, which is likely to ease supply pressure and lend support to steel prices next month.
Mysteel assessed the national spot price of Q235 4.75mm HRC at Yuan 3,320/t including the 13% VAT by July 10, higher by a small Yuan 5/t on week. The list price for Baosteel SS400 3*1250mm HRC stood at Yuan 4,775/t EXW excluding the VAT in July, Mysteel Global learned.
By slightly raising its list prices for August sales, Baosteel is also seeking to restore some market confidence, underpinning the market before it enters into the transition from the summer lull to the autumn peak season for steel consumption, the analyst added.
Following Baosteel's pricing announcement last Friday, other major Chinese flat steel producers like Angang Steel and Bengang Steel Plates are expected to announce price adjustments for August this week, which is likely to align with Baosteel's adjustments.
Earlier on July 1, Shagang Group, China's leading privately owned steelmaker headquartered in East China's Zhangjiagang, announced that for July sales, it was holding its list prices for Q235 5.5×1500mm HRC and SPHC 4×1250mm HRC unchanged at Yuan 3,700/t and Yuan 3,710/t, respectively. The steel group has yet to announce its HRC list prices for August sales.
Source:Mysteel Global
