Posted on 12 Aug 2026
Baoshan Iron & Steel Co (Baosteel), the listed arm of the world’s top steelmaker China Baowu Steel Group, is lifting the list prices for its major flat-rolled products including hot-rolled coils (HRC) by another Yuan 50/tonne ($7.4/t) for domestic sales in September, according to the company’s latest pricing announcement issued late on August 10.
For August sales, Baosteel had also raised the list prices of its major flat steel products by Yuan 50/t, as Mysteel Global had reported.
The company's latest upward adjustments for September reflect a marginal improvement in flat steel supply-demand fundamentals, observed a Shanghai-based ferrous analyst. Domestic hot coil output continues to drop while restocking of the flat steel by fabricators and coated sheet producers has increased recently, he said.
Mysteel's latest survey shows that China's manufacturing sectors including those producing machinery, automobiles and home appliances have started restocking hot coils recently on a small-batch basis, in order to secure substrate stocks before the anticipated rises of prices in the coming peak consumption months of September-October.
On the supply side, many mills facing low profitability and stubbornly high inventories are idling their hot strip mills to reduce their losses, causing availability to tighten recently, as Mysteel Global had reported. During July 30-August 5, hot coil production among the 37 Chinese steelmakers regularly surveyed by Mysteel stood at 2.88 million tonnes, lower by 1.7% on week and 5.4% on month.
Against the easing of the supply-demand imbalance, Baosteel is also seeking to give a boost to market confidence through the price hike, the analyst observed. The East China mill is hoping to spur restocking demand as the market enters the transitional period from the summer lull to the autumn peak season for steel consumption.
Other major Chinese flat steel makers such as Angang Steel and Bengang Steel Plates are likely to follow Baosteel's adjustments when they announce their pricing policies for September, expected later this week.
However, whether the recent improvement in HRC fundamentals will last remains highly uncertain, the analyst warned, noting that the relatively small increase in its prices shows Baosteel's sense of caution.
At least in the short run, the market would likely resist any attempt at raising prices by a large margin, Mysteel Global understood. On August 7, Mysteel assessed the national spot price of HRC lower by Yuan 10/t at Yuan 3,263/t, while the day before, hot coil inventories in the 194 commercial warehouses Mysteel tracks nationwide were assessed at 4.82 million tonnes, higher by 1.3% on week and 2.9% on month, Mysteel's latest survey showed.
Source:Mysteel Global
