Baosteel Maintains Hot-Rolled Coil Prices in October
Baosteel, a key player in China’s steel industry, decided to maintain its hot-rolled coil (HRC) prices for October. This move follows two consecutive monthly price increases. The company kept prices stable due to weakening domestic demand and mixed signals from the steel futures market. Hot-dip galvanized steel prices also remained unchanged. Baosteel’s pricing strategy reflects current market conditions and production challenges.
Market Trends Impacting Baosteel’s Pricing Strategy
Chinese steel production dropped to a three-month low as 37 steelmakers reported a 3.2% weekly decline in HRC output. Several northern and northeastern mills began scheduled maintenance, further tightening supply. Despite domestic weakness, Chinese steel exports grew 10% year-on-year in the first eight months of 2025, reaching 77.49 million tons. However, exports declined 3.3% month-on-month in August, with average prices slipping slightly. Meanwhile, China’s imports of metal products fell 14.1% year-on-year.
SuperMetalPrice Commentary:
Baosteel’s decision to hold prices shows cautious optimism amid uncertain demand. Maintenance in key regions constrains supply, supporting price stability despite weaker local consumption. Export growth highlights China’s ongoing influence in the global steel market. Market watchers should watch Baosteel’s next moves closely, as domestic demand and international trade tensions could shape pricing trends in coming months.
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