Baosteel Adjusts January HRC Pricing as Cost Pressure Builds
Baosteel has announced a price adjustment for its January 2026 hot-rolled coil orders. The move follows months of steady pricing. As costs continue to rise, particularly for raw materials, mills are now responding to improving spot-market sentiment and tighter margins.
Aluminum Surges Past the USD 3,000/t Mark
LME aluminum prices opened 2026 above USD 3,000 per tonne, marking the strongest level since 2022. Consequently, concerns over supply security and resilient long-term demand have returned to the spotlight, with structural tightness providing ongoing price support.
China’s NEV Boom Reshapes Automotive Aluminum Demand
China’s new-energy vehicle sector remains a key growth engine for aluminum consumption. Looking ahead, NEVs are expected to account for more than 60% of total automotive aluminum usage in 2025–2026. Battery-electric vehicles, in particular, continue to use significantly more aluminum per unit than traditional models.
Construction Steel Markets Remain on Hold
Several steel mills kept rebar and wire-rod prices unchanged in early January. For now, producers are prioritizing inventory management and cautious pricing strategies while monitoring signs of downstream demand recovery.
UK Outlook Points to Long-Term Growth in Electrical Steel
According to a recent UK market forecast, domestic demand for grain-oriented electrical steel is set to expand at around 4.9% CAGR through 2035. As a result, European demand for high-efficiency transformer core materials is expected to stay firm over the next decade.
India Introduces Three-Year Steel Import Tariffs
India has implemented new import duties on selected steel products, starting at 12% in the first year. This policy change is likely to push domestic steel prices higher and influence procurement strategies across the construction, engineering, and automotive industries.
Iron Ore Supply Growth May Ease Mill Cost Pressure
Global iron-ore producers are preparing for a new phase of capacity expansion in 2026. Therefore, the market could see downward pressure on ore prices, offering potential cost relief for steelmakers.
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