E-mail : inquiry@ronsteel.comPhone : +8615308477503
We are committed to providing one-stop service for steel pipe products to customers around the world.
China’s largest steelmaker, Baoshan Iron & Steel (Baosteel), a subsidiary of China Baowu Steel Group, plans to produce 52.61 million tons of steel and 48.79 million tons of pig iron in 2025, according to its Q1 2025 report cited by Reuters.
In the first quarter of 2025, Baosteel produced 12.85 million tons of steel and 11.55 million tons of pig iron. During the same period, the company secured foreign orders totaling 1.55 million tons of steel products. For the full year 2024, Baosteel shipped a record 6.07 million tons abroad, a 3.9% increase year-on-year.
Thanks to lower input costs, Baosteel reported a 26.4% year-on-year increase in net profit for Q1, reaching approximately 2.43 billion yuan ($333.4 million). The company attributed this improvement to a sharper decline in coking coal prices compared to steel prices, despite an overall environment of weak demand and falling steel prices, according to a statement filed with the Shanghai Stock Exchange.
Baosteel also cautioned that the external environment in 2025 is likely to be more challenging and unpredictable, with ongoing risks from trade tensions. The company expects profitability to face continued downward pressure due to a persistent imbalance between supply and demand.
Cai Yanbo, Baosteel’s deputy general manager, noted that nationwide steel production is expected to decline this year under external industry pressures, amid existing issues of overcapacity and subdued demand. However, Cai emphasized that production cuts are unlikely to occur immediately, either in April or May, and urged regulatory authorities to avoid applying a uniform approach to production control.
Market discussions around a potential 50-million-tonne reduction in national steel output suggest that such a move could help rebalance the market by supporting steel prices while easing upward pressure on raw material costs.
Looking ahead, Baosteel aims to expand its annual steel exports to 10 million tons by 2028, leveraging its wide product portfolio and a well-established international marketing network to strengthen its position in global markets.
