Baosteel, China’s leading steelmaker, has kept flat steel prices unchanged for the fourth consecutive month in July 2025, continuing its strategy amid weak market demand and a general decline in steel prices. The company last raised prices in February, increasing them by 100 yuan per tonne ($14/t) ahead of the peak season. The decision to maintain stable prices reflects the traditional off-season in China and ongoing market weakness, which is expected to keep prices steady or slightly declining. Baosteel’s pricing stance is likely to influence other East Asian steel mills as they prepare to adjust their monthly quotations.

In May 2025, China’s steel exports rose by 9.9% year-on-year to 10.58 million tons, marking a seven-month high and the third consecutive month with exports exceeding 10 million tons. This surge is driven by steady supply ahead of anticipated tariff hikes that could reduce demand. Conversely, steel imports into China fell by 24.5% year-on-year to 481 thousand tons. Over the first five months of 2025, Chinese producers exported 48.47 million tons of steel, an 8.9% increase year-on-year, while imports dropped 16.1% to 2.55 million tons. Baosteel’s price stability signals cautious market sentiment amid these shifting trade dynamics.