Posted on 25 Jun 2025
Shagang Group (Shagang), China's leading privately-owned steelmaker in East China's Jiangsu province, is rolling over the list prices of its major long steel products for sales during the final ten days of June. This marks the second consecutive pricing cycle where no adjustments have been made, according to the company's latest pricing policy.
The rollover means that Shagang continues to price its HRB400 16-20mm rebar at Yuan 3,250/tonne ($453/t), its HPB300 6-10mm high-speed wire rod at Yuan 3,320/t, and HRB400 8-10mm bar-in-coil at Yuan 3,410/t. All prices are on an EXW basis and include the 13% VAT.
Shagang releases its long steel list prices three times a month, and its pricing decisions are widely regarded as a pointer to sentiment in China's long steel market, Mysteel Global notes.
A market source based in Jiangsu commented that Shagang holding its prices for another sale period reflected subdued spot steel sales. "The ongoing low consumption season – made worse by hot and humid weather – is dampening construction steel demand from building contractors," he observed.
Mysteel's regular survey of 237 trading houses across China echoed this view. During mid-June, their average daily trading volume of rebar, wire rod, and bar-in-coil dropped to 97,847 tonnes/day, down 6.3% from the prior ten-day period and 19.1% lower on year.
Meanwhile, domestic steel prices have remained narrowly rangebound, the source added, with raw material costs providing only limited upward support.
As of June 20, the spot price of HRB400E 20mm dia rebar in the Shanghai market, a major market for Shagang's products, was assessed by Mysteel at Yuan 3,090/t including the 13% VAT, slipping by Yuan 20/t from the price on June 10.
"With temperatures rising and humidity increasing across much of China, demand may continue to weaken and place further pressure on finished steel prices," the source warned.
Source:Mysteel Global
