Baosteel, China’s leading steelmaker, raised its May prices for hot-rolled coils, mid-to-thick plates, pickled, color-coated, and wire rod products by CNY 100 per ton. While prices for cold-rolled coils, hot-dip galvanized, electro-galvanized, seamless steel pipes, and grain-oriented electrical steel remained stable, rising iron ore and coal costs drove these other hikes.

Regional peers in Vietnam, Hoa Phat and Formosa Ha Tinh Steel, previously raised their hot-rolled coil prices by over US$30.

These international price surges and growing export orders provide a strong backdrop for Taiwan's China Steel Corporation (CSC) to raise its own May rates this week. Market participants expect CSC to continue its upward pricing trajectory as global steel costs rise and peak season demand nears.