Baoshan Iron & Steel (Baosteel), China’s largest listed steelmaker and a unit of China Baowu, reported on October 30, 2025 that third‑quarter net profit rose to 3.08 billion yuan (about $432 million), up 130% from 1.34 billion yuan a year earlier, citing stronger domestic demand and continued resilience in export orders. The company said demand from high‑end manufacturing and new‑energy sectors supported results despite ongoing industry challenges such as high costs and persistent oversupply. For January–September 2025, Baosteel’s net profit increased 35.32% year on year to 7.96 billion yuan. Operationally, Baosteel produced 12.77 million tons of pig iron and 13.06 million tons of steel in the third quarter, bringing nine‑month totals to 36.48 million tons and 38.79 million tons, respectively. Export activity remained firm: Baosteel captured 5.17 million tons of export orders in the first three quarters, up 10.9% from the prior year, and the company is targeting 15 million tons of exports in 2026. Management nonetheless noted that the sector faces pressure from elevated input costs and the need for structural upgrades. The update underscores contrasting themes in global steel: strong Chinese export pipelines amid trade frictions and selective domestic demand recovery. Figures were disclosed in Baosteel’s quarterly communication released Thursday.