The company leaves the offer unchanged for the second month in a row

China’s leading steelmaker Baosteel has maintained prices for flat products for sale on the domestic market in May at the level of April.

The company has kept its offer unchanged for the second month in a row. The decision includes all flat products produced by Baosteel, including hot-rolled and cold-rolled coils and coated products.

Baosteel also maintained prices for May sales of hot-dip galvanized steel amid mixed trends in SHFE HRC futures, which are affected by weak domestic steel demand.

In February, Baosteel raised prices for March sales for most flat products by 100 yuan per tonne ($14 per tonne) ahead of the peak season.

Other steel mills in East Asia, particularly in Japan, have not yet announced their May sales proposals. They may follow Baosteel’s lead.

As a reminder, global prices for hot-rolled coils faced weak demand in mid-March. The cost of these products showed mixed dynamics in major markets.