Baosteel has kept domestic prices for flat steel products unchanged for July sales

Baoshan Iron & Steel (Baosteel), a subsidiary of the world’s leading steel producer China Baowu Steel Group, has kept prices for most flat steel products, including hot-rolled coil (HRC), unchanged for domestic sales in July. This was reported by MySteel, citing the company’s announcement.

The exception is grain-oriented electrical steel — the company has raised prices for this by a further 300 yuan per tonne ($44.3/t).

Prior to this, Baosteel had raised prices for hot-rolled coils, heavy plate and a range of other products for four consecutive months.

Domestic demand for steel products in China remains sluggish at present, whilst regional markets in South-East Asia are also experiencing a summer slump characterised by rainy weather and high temperatures.

It should be noted that the global market for hot-rolled coils showed mixed trends in April 2026. In the US and China, prices continued to rise due to limited supply and expensive raw materials, whilst in the EU the domestic segment remained under pressure from weak demand against a backdrop of rising import costs.

As reported by GMK Center, on 8 June, US steel producer Nucor again raised its spot price (CSP) for hot-rolled coil by $10 per short tonne compared to the previous week, to $1,115/t. The company has been gradually increasing its supply of this product since January.