According to market reports, European stainless steel alloy surcharges have seen a significant increase for April 2026. Surcharges for Grade 1.4301 (304) rose by approximately 3.6%, notably diverging from LME nickel prices, which actually declined by nearly 1% month-on-month. The primary catalyst behind this surge is the escalating price of ferrochrome, fueled by higher procurement costs, elevated energy prices, and the compounding financial impact of the CO2 tax under the CBAM, fully effective since January 1, 2026. This cost-push is most evident in chrome-heavy grades, with the surcharge for Grade 1.4016 (430) jumping by more than 5.4% compared to the previous month.

Following review and deliberation, Baosteel hereby announces the adjustments to its domestic sales prices for April 2026 based on March 2026 (unless otherwise specified, all prices are tax-exclusive), as follows: I. Hot-rolled: Base price raised by 200 yuan/mt. II. Plate: Base price raised by 200 yuan/mt. III. Pickling: Base price raised by 200 yuan/mt. IV. Cold-rolled: Base price raised by 200 yuan/mt. V. Hot-dip galvanizing: Base price raised by 200 yuan/mt. VI. Electrogalvanization: Base price raised by 200 yuan/mt. VII. Al-Zn-Al-Mg (medium aluminum): Base price raised by 200 yuan/mt. VIII. Al-Zn-Al-Mg (high aluminum): Base price raised by 200 yuan/mt. IX. Aluzinc: Base price raised by 200 yuan/mt. X. Color-coated: Base price raised by 200 yuan/mt. XI. Non-oriented silicon steel: Base price raised by 200 yuan/mt. XII. Grain-oriented silicon steel: Unchanged. XIII. Seamless pipe: Base price raised by 200 yuan/mt. XIV. Welded pipe: Base price raised by 200 yuan/mt. XV. Wire rod: Base price raised by 200 yuan/mt. XVI. Bar: Base price raised by 200 yuan/mt. XVII. For adjustments to alloy surcharges as well as coating and plating surcharges, please refer to the April 2026 price list. XVIII. The above price adjustment notice shall take effect from the date of publication. XIX. The Marketing Center (Baosteel International) of Baoshan Iron & Steel Co., Ltd. reserves the right of final interpretation of this price adjustment notice. Baoshan Iron & Steel Co., Ltd. Marketing Center (Baosteel International) March 9, 2026

February 2026 proved to be a pivotal month of challenge and adjustment for the global stainless steel market. Driven by the compounding pressures of the Carbon Border Adjustment Mechanism (CBAM), intensifying geopolitical trade friction, significantly tightened raw material quotas, and sudden supply chain disruptions, the market navigated a complex landscape.

Ansteel's product price policy for July 2025 is adjusted as follows based on the "Product Price Policy for June 2025": 1. Hot-rolled: Prices remain unchanged. 2. Pickled: Prices remain unchanged. 3. Cold-rolled: Prices remain unchanged. Prices for automotive steel remain unchanged. Additionally, prices for Ansteel's high-strength wire rods with grades of 590MPa, 780MPa, 980MPa, and 1180MPa remain unchanged. 4. Cold-hardened: Prices remain unchanged. 5. Galvanizing: Prices remain unchanged. 6. Non-oriented electrical steel: Prices remain unchanged. 7. Color-coated: Prices remain unchanged. 8. Medium-thickness plates: Prices remain unchanged. 9. Wire rods: Prices remain unchanged. 10. Rebar: Prices remain unchanged. 11. Seamless: Prices remain unchanged. 12. Alloy surcharges: Refer to the price list for details. Ansteel Co., Ltd. Marketing Center June 11, 2025

Foreign Ministry spokesperson Lin Jian hosted a regular press conference on May 13. A reporter from Agence France-Presse asked whether the spokesperson could provide detailed information on the next phase of China-US economic and trade talks, and whether there were plans to discuss the 20% special tariff imposed by the US on Chinese exports on the grounds of fentanyl. Lin Jian stated that regarding the high-level economic and trade talks between China and the US, the competent Chinese authorities had already released information. On the issue of fentanyl, China had repeatedly made it clear that fentanyl was a US issue, not a Chinese one, and that the responsibility lay with the US itself. The US had ignored China's goodwill and unreasonably imposed fentanyl tariffs on China, which had severely impacted China-US dialogue and cooperation in the field of drug control and also seriously harmed China's interests. "If the US truly wants to cooperate with China, it should stop smearing and shifting blame onto China and engage in dialogue with China in an equal, respectful, and mutually beneficial manner," Lin Jian said.

[Ansteel Group and Bensteel Group's Product Price Policy Adjustment Information for June 2025] Ansteel Group's product price policy for June 2025 is adjusted as follows based on the "Product Price Policy for May 2025": 1. Hot-rolled: unchanged. 2. Pickled: decreased by 50 yuan/mt. Automotive steel unchanged. 3. Cold-rolled: decreased by 50 yuan/mt. Automotive steel unchanged. Additionally, the prices for Ansteel's high-strength wire rods at 590MPa, 780MPa, 980MPa, and 1180MPa levels remain unchanged. 4. Cold-hardened: decreased by 50 yuan/mt. 5. Galvanizing: decreased by 50 yuan/mt. 6. Non-oriented silicon steel: unchanged. 7. Color-coated: decreased by 50 yuan/mt. 8. Medium-thickness plates: increased by 50 yuan/mt. 9. Wire rods: increased by 50 yuan/mt. 10. Rebar: unchanged. 11. Seamless: unchanged. 12. Alloy surcharges: refer to the price list for details. Ansteel Co., Ltd. Marketing Center Bensteel Group's product price policy for June 2025 is adjusted as follows based on the "Product Price Policy for May 2025": 1. Hot-rolled: unchanged. 2. Pickled: decreased by 50 yuan/mt. Automotive steel unchanged. 3. Cold-rolled: decreased by 50 yuan/mt. Automotive steel unchanged. 4. Cold-hardened: decreased by 50 yuan/mt. 5. Galvanizing: decreased by 50 yuan/mt. 6. Electro-galvanizing: decreased by 50 yuan/mt. 7. Non-oriented silicon steel: unchanged. 8. Wire rods: increased by 50 yuan/mt. 9. Rebar: unchanged. 10. Special steel: unchanged. 11. Alloy surcharges: refer to the price list for details. Bensteel Sheets & Plates Marketing Center, Beiying Business Center

On the morning of the 10th local time, high-level economic and trade talks between China and the US began in Geneva, Switzerland. He Lifeng, a member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, as the Chinese lead negotiator for economic and trade issues with the US, held talks with his US counterpart, US Treasury Secretary Scott Bessent, on the same day.

[Baosteel June 2025 Domestic Futures Selling Price Adjustment Announcement for Sheets & Plates] After careful consideration, Baosteel has decided to adjust the domestic sales prices of sheets & plates for June 2025 based on the prices of May 2025. The details are as follows (all prices are exclusive of tax unless otherwise specified): 1. Hot Rolling Base price remains unchanged. 2. Thick Plate Base price remains unchanged. 3. Pickling Base price remains unchanged. 4. Cold Rolling Base price remains unchanged. 5. Hot-Dip Galvanizing Base price remains unchanged. 6. Electrogalvanizing Base price remains unchanged. 7. Aluzinc Coating Base price remains unchanged. 8. Chalco Zinc-Aluminum-Magnesium Base price remains unchanged. 9. High Aluminum Zinc-Aluminum-Magnesium Base price remains unchanged. 10. Color Coating Base price remains unchanged. 11. Non-Oriented Silicon Steel Base price remains unchanged. 12. Oriented Silicon Steel Base price remains unchanged. 13. For details on alloy surcharges and coating/plating surcharges, please refer to the June 2025 price list. 14. The above price adjustments will take effect from the date of announcement. 15. The interpretation of this price adjustment notice belongs to the Marketing Center of Baoshan Iron & Steel Co., Ltd. (Baosteel International). Baoshan Iron & Steel Co., Ltd. Marketing Center (Baosteel International) May 9, 2025

Announcement on the Adjustment of Domestic Futures Selling Prices for Sheets & Plates by Baosteel in May 2025 After careful consideration, Baosteel has decided to adjust the domestic sales prices for sheets & plates in May 2025 based on the prices in April 2025. The details of the adjustment are as follows (all prices mentioned below are exclusive of tax unless otherwise specified): 1. Hot Rolling Base price remains unchanged. 2. Thick Plate Base price remains unchanged. 3. Pickling Base price remains unchanged. 4. Cold Rolling Base price remains unchanged. 5. Hot-Dip Galvanizing Base price remains unchanged. 6. Electrogalvanizing Base price remains unchanged. 7. Chalco Zinc-Aluminum-Magnesium Base price remains unchanged. 8. High Aluminum Zinc-Aluminum-Magnesium Base price remains unchanged. 9. Aluminized Zinc Base price remains unchanged. 10. Color Coating Base price remains unchanged. 11. Non-Oriented Silicon Steel Base price remains unchanged. 12. Oriented Silicon Steel Base price remains unchanged. 13. For details on alloy surcharges and coating/galvanizing surcharges, please refer to the price list for May 2025. 14. The above price adjustments will take effect from the date of announcement. 15. The Marketing Center of Baoshan Iron & Steel Co., Ltd. (Baosteel International) reserves the right to interpret this price adjustment notice. Baoshan Iron & Steel Co., Ltd. Marketing Center (Baosteel International) April 10, 2025

【Announcement on Adjustment of Domestic Futures Selling Prices for Sheets & Plates by Baosteel in April 2025】 After research and decision-making, the domestic sales price adjustment for sheets & plates of Baosteel in April 2025 is announced as follows (all prices below are exclusive of tax unless otherwise specified): I. Hot Rolled Base price remains unchanged. II. Thick Plates Base price remains unchanged. III. Pickled Base price remains unchanged. IV. Cold Rolled Base price remains unchanged. V. Hot-Dip Galvanizing Base price remains unchanged. VI. Electro-Galvanizing Base price remains unchanged. VII. Aluminized Zinc Base price remains unchanged. VIII. Chalco Zinc-Aluminum-Magnesium Base price remains unchanged. IX. High Aluminum Zinc-Aluminum-Magnesium Base price remains unchanged. X. Color Coating Base price remains unchanged. XI. Non-Oriented Silicon Steel Base price remains unchanged. XII. Oriented Silicon Steel Base price remains unchanged. XIII. Adjustments to alloy surcharges and coating/galvanizing surcharges are detailed in the April 2025 price list. XIV. The above price adjustment notice takes effect from the date of publication. XV. The right to interpret this price adjustment notice belongs to the Marketing Center (Baosteel International) of Baoshan Iron & Steel Co., Ltd. Baoshan Iron & Steel Co., Ltd. Marketing Center (Baosteel International) March 10, 2025