Baosteel raises HRS prices for May sales

China’s Baoshan Iron & Steel Co (Baosteel) has raised prices for May sales of certain key flat steel products, including hot-rolled coil (HRC), by 100 yuan per ton ($15/t) for the domestic market, according to Mysteel Global.

Since late February, the company has issued two notices regarding changes to its pricing—one for April and one for May—and in both cases, price increases were announced for certain products.

Overall, HRC prices in China saw some growth in March, supported by rising raw material costs and a gradual increase in demand for those materials. According to Mysteel’s latest monthly report, stable production and a recovery in consumption in early April will create a slight balance in supply and demand for hot-rolled coil, keeping flat steel prices in the country at elevated levels.

Sales and production of hot-rolled steel for the processing sectors recovered somewhat in March, largely due to steady automobile exports and a gradual increase in domestic demand. This trend is likely to continue in April. However, exports of these products from China are likely to continue declining this month amid protective measures by other countries, particularly Vietnam.

In April, prices for hot-rolled steel are expected to be supported by the second phase of rising coke prices and steel-grade iron ore quotations. At the same time, market growth may be limited by high inventory levels, increased supply of flat steel, and uneven demand recovery.

As a reminder, global prices for hot-rolled coils rose in most key regions in March 2026—by 1–6% month-over-month. In the first quarter, the market showed a noticeable recovery: current offers exceed the levels of late 2025 by 3–15%. At the same time, the weakest performance, as before, was recorded in China.