Baosteel raises hot-rolled coil prices by $14/t for August sales

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.

The reason for this price increase is higher production costs and a slight improvement in expected demand, according to a steel trader named Michael Zhao.

From June 26 to July 2, 37 Chinese steelmakers produced 3.28 million tons of HRC, which is a small increase of 0.3% from the previous week. This was the third week in a row that production increased.

In June 2025, the market for hot-rolled coil was not balanced. In the US, prices went up because of tariffs. However, in China and Europe, the market was weak due to low consumer activity, too much inventory, and strong competition, leading to lower prices. Although there were slight signs of improvement at the end of June, the overall market mood was still cautious.

In China, the price of hot-rolled coil dropped by 1.6% in June, reaching $475.5 per ton FOB.

The increase in HRC prices by Baosteel reflects both rising costs and a cautiously optimistic outlook on demand. While the US market saw price increases due to tariffs, China and the EU faced weaker market conditions because of low demand and high competition. Despite a slight recovery at the end of June, the market remains cautious. The decrease in HRC prices in China during June highlights the ongoing challenges in the global steel market.

https://gmk.center/en/news/baosteel-raises-hot-rolled-coil-prices-by-14-t-for-august-sales

Baosteel raises hot-rolled coil prices by $14/t for August sales.