China’s Baoshan Iron & Steel (Baosteel) has raised its prices for hot-rolled coils (HRC) for the domestic market by 200 yuan/t ($30/t) for deliveries in October. This was reported by BigMint.

This move came amid rising prices for coking coal and other raw materials, as well as expectations of a gradual improvement in demand during the autumn.

Due to rising raw material costs, Chinese steelmakers are seeking to maintain higher selling prices in order to offset the increase in production costs.

At the same time, the market is entering the seasonally busy period of September–October, when demand for steel usually rises. Steelworks are expecting an upturn in purchasing activity from end-users and restocking in the coming weeks. However, actual demand remains subdued, and purchases are largely limited to basic requirements.

As MySteel notes, this increase is the largest upward price adjustment that Baosteel has implemented since it took a similar step regarding April sales. At that time, Chinese producers raised prices for key flat steel products against a backdrop of expectations that demand would recover following the Chinese New Year celebrations.

It should be noted that ArcelorMittal has raised prices for hot-rolled coil (HRC) in Europe by €20/t ($23/t) for deliveries in November 2026. The decision was taken against a backdrop of rising production costs, driven by higher prices for raw materials and energy.