Baosteel raises prices for hot-rolled coil for January sales

Baoshan Iron & Steel (Baosteel), a subsidiary of China Baowu Steel Group, is raising its list prices for hot-rolled carbon steel coil (HRC) for domestic sales in January 2026 by 100 yuan per ton ($14/t). This was reported by Mysteel Global, citing an announcement by the steel producer.

The price increase for January sales is the first since September. This decision may be explained by a reduction in production by steel mills to reduce supply, as well as an improvement in the domestic steel market.

It should be recalled that since the beginning of November, the global hot-rolled coil market has shown a predominantly upward trend. In the EU and the US, prices rose amid more stable demand and reduced supply. China, on the contrary, remained under pressure from the seasonal downturn and competition in export markets.

It was predicted that by the end of the year, the Chinese market would remain under pressure from the seasonal downturn, with a likely further price correction of $5-10/t. A slight recovery is possible only in the event of a more significant reduction in production or new incentives from the state.

As reported by GMK Center, in 2025, China may simultaneously record iron ore imports and the lowest steel production volumes in six years. Despite the fact that the country’s steel plants are cutting production due to weak demand and low profitability, purchases of raw materials continue to grow, creating conflicting trends in the market.