The pressure on Chinese steelmakers is likely to persist through the end of the year as elevated raw material costs compound weakness in demand. Baoshan Iron & Steel Co., China's biggest listed steelmaker, said in its latest earnings report that net income declined 6.3% in the first half, citing lackluster domestic consumption, difficulties in raising prices and a squeeze on exports from trade barriers and carbon tariffs. Geopolitical tensions and swings in energy markets added to the strains, it said.