Baosteel raises prices for hot-rolled steel for April sales

Baoshan Iron & Steel Co (Baosteel), a subsidiary of China Baowu Steel Group, is raising prices for key flat steel products, including hot-rolled coil (HRC), by 200 yuan per ton ($29/t) for domestic sales in April.

This was reported by Mysteel Global, citing the latest price announcement published by the company.

This increase is Baosteel’s first price announcement since the end of the Chinese New Year (which ended on February 23). The steel producer’s move is supported by market expectations of a recovery in demand in April, which is traditionally the peak month for consumer goods and steel consumption in the country.

Prices for Baosteel hot-dip galvanized steel also rose by $29/t. The only exception to the announced increase was grain-oriented silicon steel, whose price for April sales remained unchanged compared to March.

The company’s decision is likely to influence the strategies of other major Asian producers.

It should be noted that in February 2026, the global market for hot-rolled coil continued the upward trend that began in January. Offers in Europe have increased by €25–45/t since the beginning of the year, and in the US by $50/t. China lagged behind the trend, with growth of only $2/t. A short-term recovery in activity was expected on the Chinese market after the holidays, but weak domestic demand will limit growth potential.